Crude oil futures rose toward $71 per barrel, reaching a near one-month high as Middle East tensions escalated. Irans missile attack on Israel sparked concerns over potential disruptions in oil supply from the region, which accounts for a third of global production. Despite the tension, EIA data showed a 3.89 million barrel increase in U.S. crude inventories and weak gasoline demand. OPEC+ plans to restore some halted capacity starting in December, further easing concerns. MCX October delivery oil futures were up by Rs 57, trading near Rs 6000.
Crude Inventories
Emerging Markets The Silver Lining in Global Turmoil – Gold Silver Reports
Gold Silver Reports (GSR) – Stocks faltered and bonds rose on Wednesday as US President Donald Trump’s political position was threatened by the criminal convictions of two former advisers, while the US dollar headed for its sixth straight day of losses. Investors had a lot to digest with the conviction of Trump’s former campaign chairman on eight counts of financial wrongdoing and a guilty plea by his former personal lawyer in separate cases.
Crude Oil Down as Trump, France’s Macron Talk Iran Deal
Gold Silver Reports (GSR) – Crude Oil Down as Trump, France’s Macron Talk Iran Deal — U.S. President Donald Trump and French President Emmanuel Macron pledged to seek stronger measures to contain Iran. At a joint news conference, Trump did not repeat threats to withdraw from the 2015 nuclear agreement but made clear he has little patience for it.