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  
Gold bounces off multi-week lows

Trade jitters lift safe havens, Gold, Silver. Still no decision on rolling over tariffs. Gold targets the 100-day SMA near $1,480. The resurgence of trade...

Gold recovers farther from 1-month lows

Positive trade headlines exerted some heavy downward pressure on Thursday. Conflicting reports helped limit further losses, rather regain some...

Gold re-takes $1530 on risk sentiment

Gold bounces back $ 1530 levels, upside remains more compelling. Risk hit on fresh China trade comments, 30-yr Treasury yields back below 2%....


GBP/JPY plummets to fresh 6-month lows

Persistent Brexit-related uncertainties continue to weigh on the British Pound. Upbeat UK wage growth figures did little to lend support...

Gold sticks to modest gains around $1425

Persistent global trade worries continue to benefit the commodity's safe-haven status. A fresh leg of a downfall in the US bond yields...

USD longs extended by leveraged funds

According to the CFTC's positioning data for the week ending 11 June 2019, leveraged funds turned net USD buyers after four weeks of selling...


EUR/GBP recedes from recent highs

EUR/GBP keeps the positive note so far in the mid-0.8800s. After printing tops near 0.8870 on Friday, the cross recedes some ground. Uncertainty...

Gold eases from near 2-week tops

The global flight to safety continues to fuel the ongoing positive move. A goodish pickup in the US bond yields now seemed to cap further gains...

Gold stuck in tight range above $1290

Upbeat sentiment weighs on the precious metal. US Dollar Index retreats to 97 area. Coming up: ADP private sector employment and non-manufacturing...

  


Share it on:   or