Commodity Prices Stay Stable

Forex News

Brent crude oil closed unchanged at the level of 57.35. WTI closed at 51.25. Prices for WTI have increased 1.7%, for Brent - 1.3% since last Friday. Prices are rising accordingly for the fourth and fifth week in a row.

The increase in the spread between Brent and WTI, which at the beginning of the week reached $7 per barrel, increased the interest of foreign investors in contracts for American oil.

Gold fell yesterday, reaching a 6-week low, which was caused by the growth of the dollar and the yield of US bonds after the announcement of the tax reform plan and the release of strong US data. However, the precious metal restored all the lost positions soon, in response to the resumed weakening of the dollar. Gold traded at $1286.50 level.