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Oil prices struggle on doubts OPEC can rein in oversupply

Brent crude futures were down 7 cents or 0.2 percent at $46.93 per barrel at 0053 GMT, after slumping nearly 4 percent in the previous session. Commodity Trading Tips | Commodity Tips Free Trial Oil prices wallowed near their lowest levels in seven months early on Thursday, hurt by high global inventories and doubts over OPEC’s ability to implement production cuts. Brent crude futures were down 7 cents or 0.2 percent at $46.93 per barrel at 0053 GMT, after slumping…

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Gold inches down ahead of UK polls, ex-FBI’s chief’s testimony

Polls open in the UK national elections later on Thursday while the European Central Bank (ECB) may discuss dropping additional stimulus pledges at a meeting later and former United States Federal Bureau of Investigation director James Comey will testify before the U.S. Congress about his interactions with President Donald Trump later in the day. Commodity Trading Tips | Commodity Tips Free Trial Gold edged lower on Thursday as investors awaited cues on market direction amid a number of geopolitical events…

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Oil prices slide nearly 1 pct on persistent glut concerns

Oil prices dropped nearly 1 percent in early Asian trade on Friday, dragged down by ongoing concerns over a global glut in crude supply despite a bigger-than-expected draw in U.S. crude inventories. Commodity Trading Tips | Commodity Tips Free Trial Global benchmark Brent crude futures LCOc1 were down 39 cents, or 0.77 percent, at $50.25 a barrel at 0039 GMT. U.S. West Texas Intermediate crude CLc1 futures dropped 45 cents, or 0.93 percent, to $47.91 per barrel. Official data showed…

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Gold holds near 5-week highs, but potential U.S. rate hike drags

Gold held steady on Thursday after hitting a five-week high in the previous session on geopolitical tensions, but expectations the U.S. Federal Reserve will hike interest rates next month weighed on prices. Commodity Trading Tips | Commodity Tips Free Trial Gold held steady on Thursday after hitting a five-week high in the previous session on geopolitical tensions, but expectations the U.S. Federal Reserve will hike interest rates next month weighed on prices. FUNDAMENTALS: Spot gold was down 0.1 per cent…

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