Oil falls after Saudi indicates increase in supply if required

12 June, 2015

Oil prices at both the sides of the Atlantic retreated after Saudi Arabia said it was ready to raise output further if needed. 

Front month Brent crude fell 29 cents or 0.45% to USD 64.80/barrel., while WTI crude fell 57 cents or 0.93% to trade at USD 60.20/barrel. 

WTI crude prices rose to high of USD 61.82/barrel earlier this week as firm demand and a strong US stock drawdown lifted the market. But the rally was halted today after Saudi Arabia once again expressed readiness to supply more in case demand rises.


Source link  
Oil sits at multi-month troughs

Oil benchmarks on both sides of the Atlantic snapped a minor-bounce and traded modestly flat ahead of the European open, as investors remain wary heading towards the inventory report due to be published by the API later on the day...

Gold holding stable around $1318

After dipping to $1315 region, Gold has managed to recover the lost ground and is currently trading nearly unchanged around $1318 level, awaiting for fresh impetus from FOMC monetary policy decision...

Gold inching higher to reclaim $1300 level

Risk-off sentiment across global financial markets and broader USD weakness continues to boost demand for Gold, which has now moved within striking distance of reclaiming $1300 level for the first time since Jan. 2015...


Gold regains poise, set to test $ 1250

The bullion ran through fresh bids during the European session, now pushing further towards $ 1250 mark as we head closer towards the Fed interest rate decision...

Gold stays below $1200 in Europe, risk-on weighs

Gold prices recovered off lows, but stay below USD 1200 mark in Europe as the major European equity futures point to risk-on action after opening bell...

The Economic Week Ahead - January 18 - 22, 2016

United States: After the holiday break today (Martin Luther King, Jr. Day), the U.S. economic calendar may offer only limited last-minute insight for the Fed ahead of its policy decision the following week...


What is in store for global financial markets

Research Team at Goldman Sachs, expects global GDP growth to edge up from 3.1% in 2015 to 3.5% in 2016, although the improvement largely reflects stabilization in some of the hardest-hit EM economies...

Major FX rates drifting sideways heading into yearend as crude oil plunges

Emerging market currencies have continued to underperform so far this month. Renewed weakness in the Russian rouble has been most notable so far this week lifting USD/RUB to its highest level since the same period of last year...

A glance at overnight markets

After rallying last week, oil prices are off 2%, base and precious metals lower. No end to the political uncertainty in Spain, but Spanish 10-year bonds are matching regional performance...

  


Share: