Brent and NYMEX earn in Asia

18 October, 2016

On Tuesday, oil prices held revenues during Asia trade, with industry data on American inventories ahead expected to set the overall tone along with China data on growth, industrial production and retail sales due on Wednesday.

In New York, November delivery crude futures ascended 0.58%, trading at $50.23 per barrel. In London, December delivery Brent futures gained 0.58%, reaching $51.82 a barrel

The American Petroleum Institute is expected to issue its estimates of crude as well as refined product stockpiles in America for last week late on Tuesday.  The given news will be followed on Wednesday with official data from the US Department of Energy.

Overnight, American crude surged on Monday, and managed to hover above the $50 per barrel threshold as market participants kept eyeing the details of a planned production cut by the Organization of the Petroleum Exporting Countries.

The Organization of the Petroleum Exporting Countries came to a compromise as for limiting production to a range of about 32.5 million to 33.0 million barrels per day during negotiations held on the sidelines of an energy conference in Algeria late the previous month.


Source  
Gold & Silver Continue to Fly7 Aug, 2020  

Gold is making only new highs. It seems that gold prices remain in a bullish momentum. The focus remains on the shape and size of the next...

How to trade EUR after the ECB rate statement?2 Jun, 2020  

The European Central Bank will publish the main refinancing rate and make a statement on Thursday, June 4, at 14:45 MT time. Also, the ECB press conference will...

Oil demand is recovering26 May, 2020  

The WTI price approaches the retracement level at 35. The head of the International Energy Agency forecasted that the oil market will recover...


Saudi Aramco: temporary balance12 May, 2020  

Since its IPO in December 2019, Saudi Aramco's stock price has been consistently declining. Before the New Year, it traded at $35. But in the second week...

Gold goes down on trade agreement3 May, 2019  

On the Comex exchange, June delivery gold futures headed south by about 0.7% concluding the trading session at $1,275.15 an ounce...

Dollar rallies on Powell's remarks27 Feb, 2019  

On Wednesday, the evergreen buck ascended in Asia after Fed Chair Jerome Powell came up with a positive assessment of the American economy...


The yellow metal stands still8 Feb, 2019  

The postponed US-China summit as well as weaker estimates for the EU are playing into a decelerating global surge narrative, which could...

Dollar surges versus counterparts6 Feb, 2019  

The evergreen buck was held back from dismal American services data, notwithstanding experts reaffirming the services sector was still firm...

Gold surges a bit15 Jan, 2019  

On Tuesday, gold managed to gain a bit due to the fact that the first dive in factory gate inflation for four months backed the argument that the major US bank...