Commodity Report: Crude Oil Price Forecast: 5 June 2019 - Where Next For Prices? [Video]

Phil Carr The Gold & Silver Club

Oil prices resumed their slide on Wednesday, dragged down by an unexpected gain in U.S. inventories, while gasoline and distillate inventories built more than expected, industry group the American Petroleum Institute said on Tuesday.

Official numbers from the U.S. Energy Information Administration (EIA) are due out later on Wednesday.

The oil market has been weighed down by concerns about slowing global growth from the U.S.- China trade war and President Donald Trump's threats last week to place tariffs on Mexican imports.

Meanwhile speculators cut their net long positions in U.S. Crude futures and options again in the latest week.

Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Crude Oil with the latest price forecast and predictions:

Author

Phil Carr

The Gold & Silver Club

Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.

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GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

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