OPEC has shown unusual discipline in sticking to production cuts in the first half of 2017. We asked traders, will OPEC extend cuts beyond June in the face of increases in U.S. shale production and what would that mean for price.
Oil fell around 1% on Monday as investors continued to unwind bets on higher prices after record cuts last week because of concerns that growing U.S. oil output could hamper an OPEC-led production cut deal.
Gold and silver have risen for the third straight day and both precious metals look set to close the week higher. Over the past nine weeks, gold has risen on eight occasions. Silver meanwhile has risen in each of the past nine weeks.
The U.S. stock market's bull run since 2009 will extend into 2017 if President-elect Donald Trump's plans to stimulate the economy with infrastructure spending and financial deregulation come to pass, according to strategists in a Reuters poll.
WTI Crude received a pummelling on Tuesday with prices sinking below $49.50 after reports displayed an inflated rise in U.S inventories which revived concerns over the excessive oversupply in the markets.