Crude oil:
Saudi Arabia and Kuwait appear no
closer to restarting their jointly operated Khafji oilfield, which produced 280,000
to 300,000 barrels per day before environmental problems forced a planned 18-month
closure in October 2014.
A combination of a weaker dollar and
expectations of stronger fundamentals continue to support oil prices.
GOLD
Federal Reserve’s monetary
policy decision later in the session. Global gold demand tumbled by 24 percent year on year to
781 tonnes in the first three months of the year, its weakest quarter in
seven years, as buying from leading consumers India and China plummeted.
China’s net gold imports
via main conduit Hong Kong climbed to a three-month high in March on
restocking after the new year holiday, but market sources said consumer demand
remained soft.
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