- U.S. manufacturing and services PMIs came in well below expectations
- German manufacturing and services sectors slowed momentum
- Supply concerns in the oil market linger
- Gold due to fall for second straight week
Mumbai: Oil prices traded sideways on Friday after a brief uptick earlier in the session as the market juxtaposed a slowdown in fuel demand against supply uncertainty.
OPEC+ holds its next meeting on June 30, and will most likely focus on August output policies in the meeting.
Official weekly estimates for U.S. oil inventories that were scheduled to be released on Thursday would be delayed until next week due to “system issues”, according to the
Gold prices set for second weekly decline as rate hike woes persist
Gold prices were flat on Friday, but on track to post their second straight weekly decline as investors weighed the
Policymakers raised interest rates by 75 basis points last week, while Powell signalled that another similar move was on the cards at the next meeting in July.