Oil prices pull back from recent highs, as Hurricane Laura spares U.S oil infrastructure
Gulf Coast energy infrastructures were mostly spared the brunt of the damage
Gulf Coast energy infrastructures were mostly spared the brunt of the damage
Gold was mostly on the defensive in the Asian session and most of the European trading.
Crude oil traders are presently concerned as the storm sets its course on the Gulf of Mexico.
Gold bulls reversed the downward trend as the greenback value lost some ground recently.
Investors and stock traders continue to increase their buying pressures on technology and health stocks.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Crude oil markets are still trading unusually been less volatile this week
Also Brent crude soared by 0.4%, to trade at $44.07, heading for a weekly rise around 0.5%.
The drop is speculated to have been caused by the high number of Americans who claimed unemployment benefits.
The pan-European STOXX 50 was down 0.85% and London’s FTSE 100 dropped 1.17% at 11.02 am GMT.
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