Tuesday 5 December 2017

CRUDE TIPS

Crude prices pointed mixed in Asia on Tuesday with US industry inventory estimates ahead. On the New York Mercantile Exchange crude futures for January delivery inched up 0.02% to $57.46 a barrel, while on London's Intercontinental Exchange, Brent was last quoted at $62.46 a barrel. Later Tuesday, the American Petroleum Institute will release its estimates of crude and refined product stocks followed by official data from the Energy Information Administration on Wednesday. Initial estimates show analysts expect a 3.507 million drop in crude supplies, a 548,000 barrel build in distillates and a 1.145 million barrel gain in gasoline supplies. Overnight, oil prices settled lower on Monday as traders appeared to take profit on the recent rally which followed last week’s decision by OPEC and some Non-OPEC producers to extend output curbs. Crudeoil made a subdued start to the week amid profit taking on the back of the recent rally to more than two-year highs as traders shifted attention to US crude output, which remained close to record highs.
TIME CURRENCY PARTICULAR FORECAST PREVIOUS 10:30 AM JPY Consumer Confidence 44.8 44.5 3:00 PM
EUR
Sentix Investor Confidence
32.3
34 3:00 PM GBP Construction PMI 51.2 50.8

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