Home Business Crude oil prices above $75, gold up $5.2.

Crude oil prices above $75, gold up $5.2.

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HoonSmart.com >> Crude oil prices jump more than 2% to stand above $75 a barrel. After OPEC Plus tends to increase production less than expected. Gold prices rose $5.2 an ounce.

West Texas Intermediate crude oil (WTI) closed at $75.23 a barrel, up $1.76 a barrel, while Brent was at $75.84 a barrel, up $1.22 a barrel.

Thai Oil Company (TOP) revealed that crude oil prices rose more than 2% after OPEC and its allies (OPEC Plus) tended to increase production less than expected and less than demand that is likely to recover. As a result, the market tends to have a continuous deficit. Producers are expected to increase production by 0.4 million barrels per day between August and Dec.

However, the United Arab Emirates disagrees with the reference production volume. As a result, the manufacturers will meet again today.

U.S. crude inventories at the Cushing, Oklahoma delivery point for the week ending June 25, 64 dropped to their lowest level since March, after US refineries. Increasing refining capacity to accommodate rising oil demand

The demand for oil is likely to be pressured. After the spread of the COVID-19 virus Delta species continue to rise in Southeast Asia, the UK and several European countries. As a result, countries in East Asia

On the other hand, COMEX gold was up $5.2, or 0.29%, at $1,776.8 an ounce. from buying safe assets Amid concerns about the spread of the COVID-19 Delta strain Recently, the Australian government announced the expansion of lockdown measures in many cities.
SPDR Gold Trust holds 1,043.16/ -2.62 gold.

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The Dow closed more than 131 points in response to a reduction in unemployment benefits.

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