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PRECIOUS-Gold shakes off losses to edge up after U.S. CPI data
  + stars: | 2021-06-10 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
* ECB keeps monetary policy unchanged* U.S. CPI rises 0.6% in May* ‘Transitory’ inflation may dim gold’s demand, analyst says (Recasts, adds comments, updates prices)June 10 (Reuters) - Gold prices reversed early losses to edge up on Thursday after data showed U.S. consumer prices increased more than expected last month. Spot gold was up 0.2% to $1,891.21 per ounce by 9:55 a.m. EDT (1355 GMT), having earlier hit its lowest level since June 4 at $1,875.89. U.S. gold futures dropped 0.1% to $1,893.30 per ounce. Data showed U.S. consumer prices increased further in May as the coronavirus pandemic’s easing grip on the economy continued to boost domestic demand. Silver rose 0.4% to $27.87 per ounce, palladium dropped 0.6% to $2,763.02, while platinum was down 0.8% at $1,141.19.
Persons: , Edward Moya, Moya, Carsten Menke, Julius Baer, Nakul Iyer, Eileen Soreng, Paul Simao Organizations: U.S, U.S . Federal, OANDA, Investors, European Central Bank Locations: U.S, Bengaluru
PRECIOUS-Gold edges higher after U.S. inflation data
  + stars: | 2021-06-10 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold rose 0.3% to $1,893.75 per ounce by 1:43 p.m EDT (1743 GMT), having earlier hit its lowest level since June 4 at $1,869.46. Data showed U.S. consumer prices increased further in May as continued economic recovery from the pandemic boosted domestic demand. Some pricing pressures remain for gold, but ultimately the belief that “runaway” inflation, which could trigger a Fed policy tightening, is unlikely should keep gold supported, Moya said. Investors also took stock of the European Central Bank pledge to maintain a steady flow of stimulus over the summer, at its policy meeting. “We expect gold prices to move higher in coming weeks, and inflation expectations will remain a focal point,” said Suki Cooper, an analyst at Standard Chartered, adding that recent growth in investor appetite has more than offset weak physical gold demand, particularly from India and China.
Persons: , Edward Moya, Moya, , Suki Cooper, Jeffrey Christian, Nakul Iyer, Marguerita Choy, Steve Orlofsky Organizations: U.S, U.S . Federal, OANDA, Investors, European Central Bank, Standard Chartered, CPM Locations: India, China, Bengaluru
GameStop tumbles, Clover Health rises in 'meme stock' roller coaster
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 7% and Clover Health Investments Corp (CLOV.O) jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms. Shares of cinema operator AMC Entertainment Holdings Inc (AMC.N) were down 4.1%, while prison operator Geo Group Inc (GEO.N), the latest "meme stock", slumped 8.8%, after surging more than 38% on Wednesday. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Clover Health Investments Corp, Wednesday, ContextLogic Inc, Clean Energy Fuels Corp, AMC Entertainment Holdings Inc, Geo Group Inc, Medicare, AMC, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop tumbles, other "meme stocks" falter after big runups
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell more than 17% on Thursday and other so-called meme stocks also declined, setting the stage for another roller-coaster session for stocks favored by retail investors on social media platforms. AMC shares were off around 11%. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Wedbush Securities, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
Stock futures are flat as S&P 500 remains range-bound near record
  + stars: | 2021-06-08 | by ( Yun Li | ) www.cnbc.com sentiment -1.00   time to read: +2 min
Stock futures were flat in overnight trading on Tuesday after Wall Street appeared range-bound near its record levels. S&P 500 futures and Nasdaq 100 futures also held steady. The broad equity benchmark is now just 0.3% below its record high of 4,238.04 reached on May 7. "The current short squeeze is more localized probably because the number of stocks with high short interest has come down dramatically." On the data front, job openings in April soared to a new record high, with 9.3 million vacancies coming online amid the economic recovery.
Persons: Edward Moya, Dow Jones, Maneesh Deshpande Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow, Clover Health, GameStop, Barclays
An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. Nonfarm payrolls increased by 559,000 jobs last month, helped by higher COVID-19 vaccination rates, while the unemployment rate fell to 5.8% from 6.1% in April, when the jobs report came in well below expectations. At 9:20 ET, the dollar index was down 0.403% at 90.114, dropping from a three-week high earlier in the session . read moreInvestors were heavily short dollars headed into the jobs report, positioning data showed, pointing to a market hypersensitive to any suggestion of a change in direction for the currency or a shift in the rates outlook. Overnight implied dollar/yen volatility shot up to a month high above 8% on Thursday and euro/dollar implied volatility hit its highest since mid-March .
Persons: Mohamed Abd El Ghany, Nonfarm, Edward Moya, Moya, Joe Biden, Trump, Elon Musk, bitcoin Organizations: REUTERS, Reserve, Fed, New Zealand, bitcoin, Thomson Locations: Cairo, Egypt, bitcoin
Oil hits two-year high on OPEC+ discipline, demand hopes
  + stars: | 2021-06-04 | by ( Devika Krishna Kumar | ) www.reuters.com + 0.00   time to read: +3 min
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. The U.S. dollar weakened after the report, making oil cheaper for holders of other currencies and lending support to oil prices. read moreBrent crude rose 58 cents, or 0.8%, to settle at $71.89 a barrel, after touching $72.17, its highest since May 2019. U.S. West Texas Intermediate crude rose 81 cents, or 1.2%, to settle at $69.62. "Summer and the reopening of the global economy is bullish for oil demand in the second half of the year."
Persons: Nick Oxford, nonfarm, Brent, Baker Hughes, Stephen Brennock, Edward Moya, OANDA, Louise Dickson Organizations: REUTERS, Brent, of, Petroleum, U.S, . West Texas, Energy, Thomson Locations: Cushing , Oklahoma, United States, Iran, Tehran, Brazil, India
Dogecoin jumps on news of launch on Coinbase Pro
  + stars: | 2021-06-02 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: Cryptocurrency representations are seen in front of the Dogecoin logo in this illustration picture taken April 20, 2021. REUTERS/Dado Ruvic/IllustrationNEW YORK (Reuters) - Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefiting from news that digital asset exchange Coinbase will make the crypto unit available to its users on its trading platform. Coinbase said on Tuesday it will immediately accept inbound transfers of dogecoin Coinbase Pro, a trading venue for professional traders. Dogecoin rose 31% on Wednesday to $0.41 in the wake of the Coinbase news. A boom in usage of online trading apps like Robinhood also fueled the social-media driven rally in GameStop Corp stock this year, which pitted retail investors against hedge funds.
Persons: Dado Ruvic, Coinbase, Edward Moya, dogecoin, Elon Musk’s, Dogecoin Organizations: REUTERS, GameStop Corp Locations: New York, U.S
AMC shares zoomed up 200% during the week but failed the reach social media calls for a $500,000 price tag. Virgin Galactic bounced higher after the company's successful space flight. Retail investors on Reddit at the start of the year staged a virtual fight against institutional investors that bet GameStop's price would go down. AMC shares eventually backed off that threshold but still more than doubled from about $12 from the start of the week. Markets Insider4) Virgin Galactic rockets upShares of the commercial space flight company touched $35.04 on Friday, briefly bringing its weekly rise to 66%.
Persons: New York Lucas Jackson, Edward Moya, Vanda, Moya Organizations: GameStop, Reuters AMC, Virgin Galactic, AMC, Reddit, Vanda Research, Virgin Locations: New York
Brent nudges towards $70 on rosy U.S. data, oil demand outlook
  + stars: | 2021-05-28 | by ( ) www.cnbc.com sentiment -0.90   time to read: +2 min
Oil prices pushed higher on Friday, supported by firm U.S. economic data and expectations of a strong rebound in global fuel demand in the third quarter, while concerns eased about the impact of any return of Iranian supplies. Brent and WTI are both on track to post weekly gains of 5% to 6% as analysts expect global oil demand to rebound closer to 100 million barrels per day in the third quarter on summer travel in Europe and the United States following widespread COVID-19 vaccination programs. Robust economic data from the United States, the world's largest economy and oil consumer, also buoyed risk appetite. The number of Americans filing new claims for unemployment benefits fell to the lowest since mid-March 2020, beating estimates. Analysts expect Iran to add between 500,000 bpd and 1.5 million bpd of crude and condensate to the market once sanctions are lifted.
Persons: Edward Moya, Brent, WTI Organizations: China Petrochemical Corporation, Sinopec, Brent, West Texas, Organization of, Petroleum Locations: Shengli, Dongying, Shandong Province, China, Iran, Europe, United States, Russia, OPEC, Vienna, Tehran, Washington
AMC was the most active stock on the New York Stock Exchange by far on Thursday with nearly 700 million shares changed hands. Its 30-day trading volume average is just above 100 million shares, according to FactSet. Shares have already rallied nearly 120% week to date, bringing its monstrous 2021 rally to 1,150%. Shares of AMC Entertainment jumped double digits in premarket trading on Friday as Reddit traders kept piling into the speculative name this week. AMC's surge this week has already inflicted a $1.3 billion loss for short sellers, according to data from S3 Partners.
Persons: Edward Moya, Rich Greenfield, , Sarah Whitten Organizations: AMC, New York Stock Exchange, AMC Entertainment, GameStop, Bank of, WSB, AMC YOLO, S3 Partners, LightShed Partners Locations: Manhattan, New York City , New York, U.S
PRECIOUS-Gold firms above $1,900/ounce on easing yields, dovish Fed
  + stars: | 2021-05-26 | by ( Sumita Layek | ) www.reuters.com sentiment -0.99   time to read: +2 min
Spot gold was 0.2% higher at $1,903.05 per ounce by 12:03 a.m. EDT (1603 GMT) after hitting its highest since Jan. 8 at $1,912.50. "Some of the economic data has been slowing down, and that's likely to keep Treasury yields grounded, which has been the primary driver in sending gold prices higher," said Edward Moya, senior market analyst at OANDA. Benchmark U.S. 10-year Treasury yields held near a more-than two week low touched on Tuesday, reducing the opportunity cost of holding non-interest paying gold. Investors are now looking to U.S. gross domestic product, jobless claims and consumer spending data this week. Elsewhere, palladium fell 0.6% to $2,753.83 per ounce, silver eased 0.5% to $27.84 per ounce and platinum rose 0.5% to $1,197.69 per ounce.
Persons: Sumita Layek, Edward Moya, Moya, Richard Clarida, Sumita, Kirsten Donovan, Will Dunham Organizations: Treasury, U.S, U.S . Federal, Benchmark, Securities Locations: Bengaluru
PRECIOUS-Gold eases below $1,900 as rebounding dollar, yields weigh
  + stars: | 2021-05-26 | by ( Sumita Layek | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold was 0.3% lower at $1,893.20 per ounce by 2:14 p.m. EDT (1814 GMT), having earlier hit its highest since Jan. 8 at $1,912.50. The rise in U.S. yields and the dollar strength gave some people excuse to get out of gold, said Edward Moya, senior market analyst at OANDA. "But we are still going to see gold prices continue to rise and $1,950 level seems like a very short-term goal," Moya added. Benchmark U.S. 10-year Treasury yields turned higher, increasing the opportunity cost of holding the non-yielding gold, while the dollar index rebounded from lows, making gold expensive for holders of other currencies. Elsewhere, palladium fell 0.8% to $2,747.59 per ounce, silver eased 1.1% to $27.68 per ounce and platinum rose 0.4% to $1,187.51 per ounce.
Persons: Sumita Layek, Edward Moya, Moya, Richard Clarida, Sumita, Kirsten Donovan, Will Dunham Organizations: Treasury, U.S, . Federal Reserve, Benchmark, Securities Locations: Bengaluru
Bitcoin edges back from $40,000 as volatility lingers
  + stars: | 2021-05-26 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/IllustrationBitcoin climbed back above $40,000 on Wednesday for the first time this week, before edging off its highs, as recent volatility in the cryptocurrency market showed few signs of dampening down. Bitcoin jumped as much as 6.5% to $40,904, before easing back to around $38,797 at 11:45 a.m. Eastern time. Still, bitcoin is down 30% this month, and has lost over 37% from its record high of almost $65,000 hit in April. "Cryptocurrency market volatility is not going away anytime soon," said Edward Moya, senior market analyst at OANDA.
Persons: Dado Ruvic, Bitcoin, bitcoin, Edward Moya, Larry Fink, Fink Organizations: REUTERS, BlackRock, Thomson Locations: China, BLK.N
The peso shed 1%, touching a one-week low to the dollar after S&P Global Ratings lowered Colombia's rating to junk bond status. Brazil's real rose 0.9%, recovering from its worst day in more than a week. Mexico's peso rose 0.2%, although further gains were hampered by a drop in oil prices. Chile's peso fell 0.6%, while Chilean stocks rose 0.5%. Broader Latam stocks edged higher, with the MSCI's index of regional stocks gaining 0.2%.
Persons: Fitch, Ambar Warrick, Shreyashi Sanyal, Morgan Stanley, Goldman Sachs, Edward Moya, Barbara Lewis, Will Dunham Organizations: JPMorgan, U.S, U.S . Federal, Investors, Mexico IPC, Argentina MerVal, Chile, Argentina Locations: Colombia, Wall, LATAM, U.S ., United States, Mexican, Brazil, Mexico, Chile, Argentina, Peru, Bengaluru
Some Fed officials appeared ready to begin considering changes to monetary policy based on continued rapid progress in the economic recovery, according to the Fed minutes. “Even though we are months away, the market is showing its sensitivity to a Fed change,” he said. “The new short-term range is $1,850-$1,890.”Benchmark U.S. Treasury yields jumped to their highest in nearly a week, increasing the opportunity cost of holding gold, while the dollar index bounced back from a near three-month low after the Fed minutes. “Gold traders may have thought they had a one-way ticket to $1,900, but the Fed Minutes triggered a big reversal as preview of taper talks sent Treasury yields soaring higher,” Edward Moya, senior market analyst at OANDA, said in a note. “Despite the carnage over several asset classes, gold investors got to be happy with how it performed today.
Persons: , Tai Wong, ” Edward Moya, ” Moya, Silver, Sumita, Alistair Bell, Kirsten Donovan, Richard Chang, Jonathan Oatis Organizations: U.S, Treasury, Federal Reserve, BMO, , ” Benchmark U.S Locations: Bengaluru
NEW YORK (Reuters) - Wall Street stocks fell on Tuesday, with technology shares turning lower in late trading, while the U.S. dollar touched its lowest level since late February. REUTERS/Nicky LohThe Dow and S&P 500 added to declines in late-day trading, while the Nasdaq briefly turned lower. The S&P 500 technology index reversed early gains. The dollar index fell 0.463%, with the euro up 0.61% to $1.2225. Brent crude fell 1.1% to settle at $68.71, while U.S. West Texas Intermediate crude dropped 1.2% at $65.49.
Persons: Nicky Loh, Richard Clarida, , , Edward Moya, “ That’s, You’ll, ” Moya, Elon Musk, Brent Organizations: YORK, U.S, REUTERS, Nasdaq, Walmart, T, Federal Reserve, Tesla Inc, Dow Jones, Treasury, Brent, West Texas Locations: Taipei, United States, U.S, New York
Dollar slides to multi-month lows as Fed rate hike fears fade
  + stars: | 2021-05-18 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +2 min
The dollar extended its slide on Tuesday, touching its lowest level since late February, as increased risk appetite lured investors away from the safe-haven greenback. "That’s going to be bearish for the dollar. "Normally everyone gets excited for the Fed minutes, but these minutes are old," Moya said. The euro gained 0.51% to $1.2214, passing its highest level since Feb. 25, and the dollar fell 0.24% to 108.935 Japanese yen . Rising oil prices supported the Norwegian crown and helped boost the Canadian dollar to a six-year high.
Persons: Edward Moya, You'll, Moya, They’re, Elon Musk Organizations: greenback, U.S, Treasury, Federal Reserve, PPI, Tesla Inc, Thomson Locations: New York, U.S, Brexit, Norwegian
Oil settles lower on reports of potential Iran nuclear deal
  + stars: | 2021-05-18 | by ( Laura Sanicola | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Eric GaillardOil settled lower on Tuesday, tumbling from a two-month high after media reports said the United States and Iran have made progress on reviving a deal restricting the OPEC country's nuclear weapons development, which would boost crude supply. After falling more than $2 a barrel, Brent crude settled down 75 cents, or 1.1%, at $68.71 a barrel by 1:19 p.m. EDT (1719 GMT). U.S. West Texas Intermediate (WTI) crude settled down 78 cents, or 1.2%, to $65.49. If the United States lifts sanctions on Iran, the country could boost oil shipments, adding to global supply. New cases in the United States fell further and New York lifted the mask requirement for vaccinated people.
Persons: Eric Gaillard Oil, United Nations Mikhail Ulyanov, Brent, Bob Yawger, Edward Moya, senor Organizations: REUTERS, United Nations, Twitter, . West Texas, Mizuho, Brent, American Petroleum Institute, Thomson Locations: Nice, France, United States, Iran, United, Britain, Europe, New York, Asia, Singapore, Taiwan, India
NEW YORK (Reuters) -Stock indexes globally were flat to higher on Tuesday with technology shares recovering on Wall Street, while the U.S. dollar touched its lowest level since late February. REUTERS/StaffThe S&P 500 was little changed as losses in telecom shares overshadowed upbeat news from some retailers. The S&P 500 technology index was up 0.2%. The dollar index fell 0.31%, with the euro up 0.41% to $1.2201. Brent crude was last down 0.1% at $69.36 a barrel, while U.S. West Texas Intermediate crude was down 0.4% at $66.01.
Persons: Richard Clarida, , , Edward Moya, “ That’s, You’ll, ” Moya, Elon Musk, Brent Organizations: YORK, U.S, REUTERS, Walmart, T, Federal Reserve, Tesla Inc, Dow Jones, Nasdaq, Treasury, Brent, West Texas Locations: Frankfurt, Germany, United States, U.S, New York
Barstool Sports founder Dave Portnoy pledged his "allegiance" to safemoon with a $40,000 investment. Portnoy clarified that he will not sell his bitcoin holdings, stating "I don't care what Elon Musk says." Barstool Sports founder Dave Portnoy has pledged his "allegiance" to Safemoon, a new altcoin that launched in March this year — although he's fully upfront about not understanding it. Portnoy on Monday published a video on Twitter captioned: "I have no idea how this works." Portnoy continued to post throughout the day about his Safemoon investment, following it up with another video that reiterated his stance.
Persons: Dave Portnoy, Portnoy, Elon Musk, he's, Shiba Inu, HOGE, Tesla, Read, Scott Melker, dogecoin's, Edward Moya Organizations: Barstool Sports, Twitter, Shepherd Locations: bitcoin
Oil prices climb on hopes for economic recovery
  + stars: | 2021-05-17 | by ( Devika Krishna Kumar | ) www.reuters.com + 0.00   time to read: +3 min
Oil prices edged higher on Monday as European economic reopenings and rising U.S. demand helped offset weakness earlier in the session due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data. Brent crude rose 56 cents, or 0.8%, to $69.27 a barrel by 11:22 a.m. ET (1522 GMT,) and West Texas Intermediate (WTI) crude was up 63 cents, or 1%, at $66. The British economy reopened on Monday, giving 65 million people a measure of freedom after a four-month COVID-19 lockdown. The promise of economic growth has supported oil prices in recent weeks, although the pace of inflation has kept many investors concerned about the possible rise of interest rates and fall of consumer spending.
Persons: Brent, Edward Moya, Moya, Kevin Solomon Organizations: West Texas, OANDA, United Airlines, Thomson Locations: Asia, France, Spain, Portugal, Netherlands, U.S, India, Singapore, Japan, United States, Europe
Oil prices rose more than 1% on Monday, lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data. The British economy reopened, giving 65 million people a measure of freedom after a four-month COVID-19 lockdown. read moreWith accelerating vaccination rates, France and Spain have relaxed COVID-related restrictions, and on Saturday, Portugal and the Netherlands eased travel restrictions. The promise of economic growth has supported oil prices in recent weeks, although the pace of inflation has kept many investors concerned that interest rates could rise, which could hit consumer spending. read moreChina's crude oil throughput rose 7.5% in April from the same month a year ago, but remained off the peak seen in the last quarter of 2020. read moreSigns of rising supply also capped oil's gains.
Persons: Brent, Edward Moya, Moya, Kevin Solomon Organizations: West Texas, OANDA, United Airlines, U.S . Energy, Administration, Thomson Locations: Asia, France, Spain, Portugal, Netherlands, U.S, India, Singapore, Japan, United States, Europe
Elon Musk's U-turn on accepting bitcoin as payment due to energy concerns rocked the crypto world. It could also halt the adoption of bitcoin by companies, who are increasingly climate-conscious. But Musk stunned cryptocurrency fans on Wednesday when he announced that Tesla would stop accepting bitcoin due to fears that its "insane" energy use is hurting the planet. Bitcoin tumbled as much as 15% on Wednesday before recovering somewhat and was around 22% below its record high on Friday. But after the most famous crypto enthusiast criticized bitcoin's energy use, the question is, will companies continue to adopt bitcoin?
Persons: Elon Musk's, Musk, Elon Musk's Tesla, cryptocurrency, Tesla, Jack Dorsey's, David Sneyd, Edward Moya, Moya, Jack Dorsey, Jerry Klein, Oanda's Moya, Michael Saylor, Musk's, David Wachsman, Wachsman Organizations: Service, Bank of America, BMO Global Asset, Financial, Twitter, Treasury Partners, Swiss, UBS Locations: Wall, Sweden, China, America, New York
Oil extends loss on India COVID-19 cases, U.S. pipeline restart
  + stars: | 2021-05-14 | by ( ) www.cnbc.com sentiment -1.00   time to read: +2 min
Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack. Brent crude oil futures were down 35 cents, or 0.5%, at $66.70 a barrel by 0200 GMT, while West Texas Intermediate (WTI) was down 28 cents, or 0.4%, at $63.54 a barrel. "The crude demand story is still upbeat for the second half of the year and that should prevent any significant dips in oil prices," he added. Raising rates typically boosts the U.S. dollar, which in turn pressures oil prices because it makes crude more expensive for holders of other currencies. Colonial Pipeline said late on Thursday it had restarted its entire pipeline system and had begun deliveries in all of its markets.
Persons: Brent, Edward Moya, Joe Biden Organizations: West Texas, Federal Reserve, U.S ., Colonial Pipeline, Traders, Palestinian Locations: Huntington Beach , California, India, United States, OANDA, East, Israel, Gaza
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