Oil Retains Gains, Hovers Around $75 After OPEC+ Delays Output Deal
Oil was up Friday morning in Asia, retaining its gains from the previous session after a disagreement within the Organization of the Petroleum Exporting Countries and allies (OPEC+) delayed a decision on output levels, which might cause an inflationary spike in prices if not resolved.
Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year.
Gold Down, Near Over Two-Month Low as Investors Await U.S. Jobs Data
Gold was down on Wednesday morning in Asia, near an over two-month low and headed towards its worst monthly drop since November 2016. Investors now await U.S. jobs data for further clues on the U.S. Federal Reserve’s monetary policy moving forward.
Gold Down as Dollar Strengthens and Fed Policy Confusion Remains
Gold was down on Tuesday morning in Asia, remaining close to the one-week low hut during the previous session and is set for its worst month since 2016. A strengthening dollar and concerns over whether the U.S. Federal Reserve would tighten its monetary policy sooner than expected also weighed on the yellow metal.