Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3% on Tuesday. U.S. West Texas Intermediate crude (WTI) gained 33 cents, or 0.9%, at $37.14, also the highest since March 6. The contract ended the previous session up 3.9%. Both benchmarks have risen sharply in recent weeks from the lows of April, buoyed by a continuing recovery in China, the epicenter of the virus...

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Oil futures fell Friday, with traders citing uncertainty about demand for fuel and rising U.S.-China tensions over Hong Kong, but the U.S. crude benchmark remained on track for its biggest monthly rise in more than a decade. West Texas Intermediate crude for July delivery was down 88 cents, or 2.6%, at $32.83 a barrel on the New York Mercantile Exchange, while August Brent the global benchmark,...

The euro extended its gains, testing two-month highs, on Friday as traders waited for U.S. President Donald Trump's response to China's tightening control over Hong Kong, which could worsen tensions between the two over the financial hub. Earlier, the yen rose against major currencies as investors looked for safe havens before Trump's response to China's passing of a national security law for...

Gold prices rose on Friday, supported by lingering U.S.-China trade tensions, while market participants cautiously awaited Washington's response to the Chinese parliament's approval of a national security law for Hong Kong. Spot gold was up 0.4% at $1,725.01 per ounce by 09:37 GMT. U.S. gold futures rose 0.7% to $1,739.60. President Donald Trump is expected to hold news conference on China...

The euro extended its gains on Friday to a two-month high as traders waited for U.S. President Donald Trump's response to China's tightening control over Hong Kong, which could further worsen tensions between the two over the financial hub. The yen rose against major currencies as investors looked for safe havens before Trump's response to China's passing of a national security law for Hong...

Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the worlds largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and U.S. West Texas Intermediate (WTI) crude was at $33.14 a barrel, down...

Gold inched up on Friday and was on track for its second monthly gain as deteriorating U.S.-China ties in a world reeling from the coronavirus pandemic rattled investors and fueled demand for the safe-haven metal. Spot gold was up 0.1% at $1,719.47 per ounce by 0342 GMT. U.S. gold futures rose 0.3% to $1,717.60. However, the metal was down for the week, having dropped to a two-week low on...

Oil prices edged lower on Friday after U.S. inventory data showed lacklustre fuel demand in the worlds largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude LCOc1 slipped 36 cents, or 1%, to $34.93 a barrel by 0106 GMT and U.S. West Texas Intermediate crude CLc1 was at $33.20 a barrel, down 51 cents, or 1.5%. Still, both contracts are set...

The dollar was hemmed into a narrow trading range on Friday as traders focus shifted to U.S. President Donald Trumps response to Chinas passage of a national security law for Hong Kong. The yuan pulled away from a record low in offshore trade, but investors remain nervous ahead of Trumps announcement later on Friday of policy moves that could ignite a diplomatic row between...

PRECIOUS METALS
Gold Eases as Equity Rally Boosts Risk Appetite
Wednesday, 3 June 2020 09:36 WIB Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on...
ENERGY
Oil Hits Three-Month High Over Hopes For Output Cuts
Wednesday, 3 June 2020 09:46 WIB Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the...
CURRENCIES
Dollar Falls as Focus Shifts to Recovery Prospects
Wednesday, 3 June 2020 08:47 WIB The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened...

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