Oil prices kept rising as the US market was opened on Thursday, to widen its gains for the fourth day in a row, recording its highest levels in four months, as concerns over the US supply slump eased after an unexpected drop in the commercial inventories and a slowdown in oil production for the first time since December.

As of 12:50 GMT, American crude rose to $58.55 per barrel, over the opening at $58.35, recording its highest levels since 13th of November at $58.65 and a low of $57.99.

While the Brent crude rose to $67.95 per barrel from the opening level of $67.62, and recorded a high of $68.12 since November 16th and a low of $67.35.

US crude gained 2.2% on Wednesday, the third daily gain, after the weekly report of EIA, and Brent contracts also rose 1.2%, as OPEC's efforts continue to support the market.

U.S. Energy Information Administration (EIA) announced yesterday that the country's trade inventories fell by 3.9 million barrels in the week ending March 8, contrary to experts' estimates of a rise of 2.7 million barrels, the second decline in the last three weeks.

For the US production levels, last week fell by about 100,000 barrels per day, the first weekly decline since the week ending December 7, bringing the total to 12 million barrels per day, leaving its record level of 12.1 million barrels.

In addition to easing the supply concerns in the United States, "the world's largest consumer and producer of oil," there is also support for high oil prices at the moment, with OPEC and Russia continuing to balance the market, as well as US sanctions against Venezuela and Iran.

The US dollar rose on Thursday against a basket of global currencies, making its first gain in five days to bounce back from a two-week low recorded earlier in the day. this comes as risk appetite rises on the financial markets, and the bond yields rebound Of the lowest level in two months.

The dollar index rose today more than 0.3% to 96.79 points, the opening level of trading at 96.48 points, and the lowest level at 96.46 points.

Yesterday, the index lost 0.6%, the fourth consecutive daily loss, recording a two-week low of 96.32 points as the US currency continued to trade after weak economic data in the US.

Treasury yields (for a decade) interest rates bounce back from a two-month low as the risk appetite improves in high-yielding asset markets.

European stocks hit a five-month high Thursday after the British parliament rejected the country's break-up from the European Union without a deal. The Standard & Poor's 500 jumped to its highest in five months ahead of the opening of the official trading session on Wall Street.

Investors are currently looking for the US economy to release a reading of the unemployment claims index for the last week on March 9th, which could reflect a rise of 2K to 225K, in conjunction with the New Residential Sales index, which may reflect a slowdown in growth to 0.2% 622k from 3.7% at 621K last December.

Silver prices fell more than 1% in the European market on Thursday to drop from the highest in two weeks, with the acceleration of correction and profit taking, and after the recovery of the US dollar against a basket of currencies.

As of 11:50 GMT, Silver prices fell 1.2% to trade at $15.22 an ounce from the opening of $15.41, the highest at  15.45 and the lowest at $15.20.

Silver ended yesterday's trading flat with little change after prices hit a two-week high of $15.52 an ounce earlier in the session.

Besides, today The dollar index rose  by about 0.3%, about to make its first gain in five days, within the rebounds from the lowest in about two weeks at 96.32 points, reflected the recovery of the US currency against a basket of other major currencies, which is currently putting pressure on silver prices And other metals denominated in US dollars.

The dollar's recovery comes as 10-year Treasury yields interest rates bounce back from a two-month low as the risk appetite improves in high-yielding asset markets, which makes the dollar the best current investment in the foreign exchange market.

Stocks in Europe and the United States jumped to a five-month high, as demand for safe-haven assets declined again, led by the gold and silver.

The European shares jumped Thursday morning to their highest in five months, continuing gains for the second session in a row, as risk appetite rose, after the British parliament rejected the separation of the country from the European Union without an agreement, and later on today a new vote is scheduled to postpone the deadline of Brexit in 29 In March.

Stoxx Europe 600 rose 0.2% till 09:55 GMT, its highest since last October, and ended yesterday's session up 0.6%, as investors bet on the British parliament's rejection of the  no-deal Brexit.

Stoxx Europe Index(TMI) rose Thursday morning to continue its gains for a second consecutive session, hitting its highest level in five months, with most of the major markets and sectors in the Green Zone.

The energy sector is leading the gainers in Europe, with most of the sector gaining after a new jump in oil prices, hitting their highest levels in 2019 as OPEC's efforts to support the market continue while US inventories and production fall.

The British parliament on Wednesday voted "after the closure of most of Europe's financial markets" by 312 to 308 members in favor of an amendment put forward by a group of lawmakers that obliges the British government to exclude EU exit without an agreement.

Theresa May's government has previously warned that the country would face political, economic and constitutional challenges if it exited the European Union without an agreement on March 29.

The British parliament will vote later today, on whether the European Union should be asked to postpone the planned Brexit deadline on the 29th of this month for a further period of time. but even If the parliament approves it, it will be a more difficult approval to require the rest of the EU member states to approve that.

Meanwhile, S & P 500 futures rose by 0.2%, hitting a five-month high before the opening of Wall Street's official trading session. The index ended yesterday's session up 0.7%, its third consecutive daily gain.

Euro Stoxx 50 index also gained 0.3%. whilst in France, CAC 40 index gained 0.5%. and Germany's DAX index added 0.1%. and also London's FTSE 100 index gained 0.6%, leading the list of European gainers.