Global oil prices extended gain again Tuesday, taking U.S. crude past the $62 mark for the first time in nearly five months, following stronger-than-expected factory output data from the U.S. and China and reports that Washington may revoke waivers for the purchase of Iranian exports.
Global oil prices traded firmly higher Monday, extending gains from the strongest quarter in a decade, after stronger-than-expected factory output data from China and ongoing production cuts from OPEC member and its allies raised the prospect of increasing demand into the summer months.
The oil rally may be running out of steam, according to a little-watched chart indicator. But things could heat up again later this year.
U.K. Prime Minister Theresa May will bring a watered-down version of her twice-defeated Withdrawal Agreement to Parliament Friday in what could be the final attempt to break the nation's crippling Brexit stalemate on the very day Britain had been scheduled to leave the European Union .
Global oil markets extended declines Thursday after President Donald Trump resumed his attack on OPEC producers, urging them to "increase the flow" of crude as prices remain close to four-month highs.
A reticence to increase U.S. dollar exposure in 2018 resulted in highest central bank gold demand since the end of Bretton Woods.
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