Crude prices about to end the week atop one-month high
2017-05-19 17:57:39 GMT (Economies.com)
Crude prices about to end the week atop one-month high

Crude prices surged over two percent in American trade as the dollar index hit a six-month low according to their inverse relation, amid a lack of data from the world's largest economy, and as investors look forward to OPEC's meeting next week. 

 

As of 06:22 GMT, U.S. crude futures due on June 16 rose 1.74% to $50.21 a barrel from the opening of $49.35, while Brent crude futures due on July 15 surged 1.71% to $53.41 a barrel from the opening of $52.51. The Dollar index fell 0.53% to 97.36 from the opening of 97.79. 

 

Markets await global producers' decisions on extending the deal to cut output by 1.8 million bpd for nine more months until March, 2018, in order to ensure balance in the markets, as global crude inventories remain atop five-year highs, while U.S. shale production hits two-year highs. 

 
 
 
  Symbol Last Change Chg.%
1.1791
0.0128
1.0983%
1.3216
0.0053
0.4011%
17.313
0.422
2.501%
56.635
-0.230
0.405%
62.71
1.35
2.20%
1294.360
18.690
1.465%
 
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