Crude Weakens Below 76 amid Invenotry Concerns. Saudi Set to Raise Output
BonTrade2 major themes dominating the market are Japanese government's unexpected intervention of yen and Fed's extension of QE by increasing bond purchases. Gold consolidated in Asian and European sessions after rallying above 1270 yesterday. Outlook remains firm and is likely to extend gains to 1300. Crude oil weakened for a second day and is currently trading below 76. Despite OPEC's downward revision on demand for the cartel's oil, Saudi Aramco said that it's ready to boost production as consumption in emerging markets expands.
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Crude Weakens Below 76 amid Invenotry Concerns. Saudi Set to Raise Output
