Oil prices recovered a touch on Thursday after athe three-day
nosedive move triggered by a string of headlines which took the wind out of the
Oil price. More diplomatic efforts are being pushed forward in Gaza to broker a
ceasefire deal, which would ease tensions in the region. Next to that, the US
Energy Information Administration (EIA) reported on Wednesday one of the
biggest Crude sStockpile build ups seen in a long time.
The US Dollar Index (DXY) sees pressure building on an intermediate
level at 105.50, after several attempts over the past two weeks to break below
it. The level still holds though, ahead of the US Jobs report for May, to be
released on Friday.
Dr. Kamaran Qader Yaqub,
Financial consultant at Investment Spot company.
