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Post by capitalstars Equity tips on May 23, 2017 20:28:18 GMT 8
CRUDE OIL - U.S. President Donald Trump's proposal to sell half of the United States' strategic oil reserve surprised energy markets on Tuesday since it counters OPEC's efforts to control supply in order to boost prices. The plan came out just a day after Trump left Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), as part of his first overseas trip. It will complicate the OPEC efforts to stabilize the market," said Anas Alhajji, an independent oil analyst and economist in the Reuters Global Markets Forum following the announcement. GOLD - Gold prices held near their strongest level in around three weeks in European trade on Tuesday, as investor sentiment skewed toward safe-haven assets after a suspected terrorist attack at a concert in Britain's city of Manchester. Police said an explosion at the end of a concert by U.S. singer Ariana Grande in the English city of Manchester on Monday killed at least 19 people and injured more than 50. Gold has been well-supported in recent sessions as political uncertainty surrounding the Trump administration pressured the dollar lower. Investor sentiment has been hit by fears that the U.S. political system could become engulfed by crisis, preventing lawmakers from pushing through tax or spending reforms. Capitalstars |
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