Saudi Arabia doesn’t yet plan production above its assigned OPEC quota of 10.311mbpd
Saudi King Reportedly Emphasises Drive Towards Ensuring Stability In Oil Markets
Gold prices were firm near a 10-month peak on Thursday, with the dollar holding steady in the wake of minutes from the latest U.S. Federal Reserve meeting that rekindled expectations of a possible rate hike later in the year.
Gold Silver Reports (GSR) – Crude Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela.
Gold Silver Reports (GSR) – The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said.
International Brent crude oil futures were up 67 cents, or 1.1 percent, at $62.17 a barrel by 1230 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by 51 cents, or nearly 1 percent, to $53.52.
The dollar held at a near three-week high as investors sought the relative safety of the U.S. currency.
Gold Silver Reports (GSR) – Trump’s prime-time address, scheduled for 9 p.m. (0200 GMT Wednesday) will be his latest attempt to persuade Congress to fund construction of a huge barrier along the 2,000-mile (3,200-km) border.