U.S. crude dazes after yesterday's tumble

Economies.com
2016-07-01 16:12PM UTC

Crude prices wavered on Friday ahead of the weekend after sliding yesterday due to instability in crude's performance as markets remain cautious following Britain's vote to exit the European Union. 

 

U.S. crude futures last traded at $48.35 a barrel, compared to the opening price of $48.38, with an intraday high at $48.75, and a low at $47.88. 

 

Crude's wavering comes after a battering yesterday, while the dollar returned lower today versus a basket of rivals, sending prices into sideways trading. 

 

Dollar lost ground against main currencies despite upbeat manufacturing data from the U.S., which would've normally buoyed crude prices, but instability forced it into dithering. 

 

The dollar index, measuring the greenback's performance against a basket of six major currencies, last traded at 95.66, compared to the opening of 95.88, with a session-low at 95.40, and a high at 96.08, after the index hit a three-month high this week at 96.70. 

 

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Technical Analysis

Commodities

Wheat price returns to the bullish correction – Forecast today - 29-03-2024
2024-03-29 01:50AM UTC
Wheat Price Analysis Expected Scenario: Continuing Bullish Momentum Wheat price rallied ...
Technical Analysis

Commodities

Sugar price completes the positive pattern – Forecast today - 29-03-2024
2024-03-29 01:49AM UTC
Sugar Price Analysis Expected Scenario: Continuing Bullish Trend Sugar price managed to breach ...
Technical Analysis

Commodities

Soybean price keeps the positive stability – Forecast today - 29-03-2024
2024-03-29 01:49AM UTC
Soybean Price Analysis Expected Scenario: Continuing Bullish Trend Soybean price attempted to ...