Oil Rises on Reports of Significant Decline in Crude Inventories: Oil prices increased in early Asian trading on Wednesday, July 3,
after data showed a larger-than-expected drop in U.S. crude inventories.

Contents

Gold Steadies

Oil Rises

Inflation Slows Down

Gold Steadies as Investors Focus on Fed Meeting Minutes

Gold prices remained stable as investors awaited the release of the U.S. Federal Reserve’s meeting minutes at 18:00 GMT.
Fed Chairman Jerome Powell mentioned the need for more data before reducing interest rates to ensure recent inflation declines accurately reflect the efforts to control prices.

Oil Rises on Reports of Significant Decline in U.S. Crude Inventories

Oil prices increased in early Asian trading on Wednesday, July 3, after data showed a larger-than-expected drop in U.S. crude inventories.
This boosted hopes for strong fuel demand during the summer driving season in the world’s largest oil consumer.
Brent crude futures rose by 16 cents (0.2%) to $85.60 per barrel,
while U.S. West Texas Intermediate crude futures increased by 14 cents (0.2%) to $82.95 per barrel.

Eurozone Inflation Slowdown Raises Rate Cut Hopes

Eurozone inflation slowed in June, strengthening evidence that price pressures gradually align with the European Central Bank’s 2% target.
Consumer prices rose by 2.5% annually, down from 2.6% in May,
aligning with Bloomberg economists’ estimates.
Contrary to expectations, the core inflation measure, excluding volatile items like food and energy, remained unchanged at 2.9%.

Oil Rises on Reports of Significant Decline in Crude Inventories

Oil Rises on Reports of Significant Decline in Crude Inventories

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