There was a sharp drop in oil prices on Tuesday after a four-day winning streak of gains. Concerns about rising global supplies as OPEC weighs production cuts supported the fall of the prices.
Category: Features
The dollar’s further weakness on Monday follows its biggest weekly drop since late September following dovish comments by U.S. policymakers last week.
The pound struggles to recoup some losses. The British currency rallied as much as nearly 0.5% on Friday. The pound dived on Thursday after Cabinet ministers quit in protest at May’s draft Brexit deal.
Brexit resignations lead to trouble for May and the investors. The pound dived after Cabinet ministers quit in protest at the Prime Minister Theresa May’s draft Brexit deal.
Oil supply cut to be discussed next month among OPEC and partner producers in an attempt to support the oil market. Brent prices rose on Wednesday, recovering from the previous session’s slide.