- Crude prices rebounded sharply in early Asia on Friday as overnight declines provided a new buying opportunity even as the U.S. remains significantly oversupplied.On the New York Mercantile Exchange, WTI crude for November delivery jumped 1.19% to $46.93 a barrel.Overnight, U.S. crude futures fell to the lowest level in more than a week on Thursday, as a considerable build in crude stockpiles last week exacerbated concerns over a glut of oversupply on global energy markets.
- Gold prices slid lower in European morning hours on Friday, as investors locked-in profits from the metal’s rise to four month highs on Thursday and as the dollar regained some strength after the release of positive U.S. jobless claims and inflation data. Overnight, gold futures moved to fresh three month highs on Thursday, as relatively soft U.S. inflation data appeased dovish sentiments for delaying an interest rate hike by the Federal Reserve beyond the end of the year.
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