Commodity capsule: Oil set to snap 2-week losing streak, base metals bounce back | Watch video
Commodity capsule: How are bullion, agricultural commodities, and industrial metals faring today? We bring you the latest updates from the world of commodities.
Oil Prices poised to end the week in green
Oil prices were set to snap a two-week losing streak.
Trading marginally lower on Friday, amid optimism about higher energy demand from China and a weak dollar.
Both international oil benchmarks, Brent Crude, and US WTI Crude, surged about 3 per cent in the prior session.
China's oil refinery throughput rose 15.4 per cent in May year-on-year (YoY), hitting second-highest total on record.
Chinese demand for oil is expected to keep climbing at an assured rate during the second half of the year— Kuwait Petroleum Corp's CEO
US retail sales unexpectedly rose in May along with higher-than-expected jobless claims last week.
The dollar fell to a five-week low versus a basket of other currencies.
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