Oil prices jumped after Saudi Arabia announced extension of voluntary 1 million barrel production cut. Cut will be extended through September but Saudis have already warned that it can not only be extended but also deepened if needed.
Oil jumped over 1% on the news with Brent (OIL) trading above $84 per barrel and WTI breaking above $80 mark.
Source: xStation5
Oil down nearly 5% following the announcement that European diesel reserves will be released💡
🟡Gold takes a breath, because of oil, not NFP
Daily Summary: Wall Street Recovers as Micron Shines and Oil Prices Rise Again
The US has a Diesel problem. Now Europe is being asked to open its reserves