Tag
STEPHEN INNES
At the time of writing this report, Brent oil futures were down by 1.06% to $49.30 thereby dropping below the $50 mark.
The U.S dollar index used to track the greenback's strength against major currencies gained 0.4% to trade at 90.377.
Crude oil prices were fired up for the seventh straight week leading to the longest winning streak since April 2019
At the close of the US stock market, the Dow Jones Industrial Average surged by 0.49% to print a new all-time high.
Oil prices are presently cooling off on the bias of the $900 billion economic stimulus package lingering at the U.S Congress
At the time of writing this report, Gold futures gained 0.51% at $1,871/ounce.
The Dow Jones Industrial Average surged by 1.13%, while the NASDAQ Composite index gained 1.25%, and also S&P 500 index ticked up by 1.29%.
U.S. Dollar Index traded at 90.427 points hitting its lowest level since April 2018,
U.S. WTI crude futures dropped 0.6%, to trade at $46.63 a barrel while Brent crude slumped by 0.68%, to $49.96 a barrel.
Dow futures gained about 180 points. S&P 500 futures and Nasdaq 100 futures gained 0.55% and 0.45%, respectively.
Oil prices have rallied for six consecutive weeks, their longest streak of gains since June.
At about 6.30 am, WAT (West African Time) Gold Futures traded at $1,841/ounce showing a gain of 0.20%.