In trading on Friday, benchmark U.S. crude oil for May delivery increased by 41 cents to reach $83.14 per barrel. Meanwhile, Brent crude for June delivery also saw a slight rise of 18 cents to $87.29 per barrel.
Oil Prices
Wholesale gasoline prices for May delivery remained steady at $2.71 per gallon. Heating oil for May delivery saw a slight increase of 1 cent, reaching $2.54 per gallon. Natural gas prices for May delivery, however, experienced a 1 cent decrease to $1.75 per 1,000 cubic feet.
Metals Prices
In the precious metals market, gold prices for June delivery rose by $15.80 to $2,413.80 per ounce. Silver prices for May delivery also saw a jump of 46 cents to $28.84 per ounce. Additionally, copper prices for May delivery increased by 6 cents to $4.50 per pound.
Currency Exchange Rates
On the currency front, the dollar weakened slightly against the Japanese yen, falling to 154.60 yen from 154.61 Japanese yen. At the same time, the euro strengthened against the dollar, rising to $1.0650 from $1.0645.
Amidst global market uncertainties, oil prices continue to be closely monitored by investors as they can be influenced by geopolitical tensions, supply and demand dynamics, and macroeconomic indicators. The rise in precious metals like gold, silver, and copper may reflect investors’ search for safe-haven assets during uncertain times. Additionally, fluctuations in currency exchange rates can impact international trade and affect the competitiveness of various economies. These interconnected movements in different markets highlight the complex nature of the global economy and the importance of staying informed about various asset classes.
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