Crude oil prices gained traction after making a technical correction. Iraq announced that it will make additional output cuts in August. Weekly Initial Jobless Claims in the US declined by 249K. Crude oil prices closed the fourth straight day in the positive territory on Wednesday and staged a technical correction in the first half of the day on Thursday. After dropping to $41.50 area, however, the barrel of West Texas Intermediate (WTI) gained traction during the American session and was last see gaining 0.9% on the day at $42.55. Iraq further reduces oil output in August Earlier in the day, Iraq’s oil ministry and state oil marketer announced in a statement that Iraq will lower its oil output by an additional 400,000 barrels per day to compensate for its overproduction, as reported by Reuters. Iraq further reiterated that it’s committed to the OPEC+ agreement and provided a boost to crude oil prices. Meanwhile, the data published by the US Department of Labor showed on Thursday that the weekly Initial Jobless Claims declined by 249,000 to 1,186,000 in the week ending August 31st. With this data keeping hopes alive for a steady recovery in the energy demand outlook, the WTI preserved its bullish momentum. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index stays capped around 93.00, focus on US politics FX Street 2 years Crude oil prices gained traction after making a technical correction. Iraq announced that it will make additional output cuts in August. Weekly Initial Jobless Claims in the US declined by 249K. Crude oil prices closed the fourth straight day in the positive territory on Wednesday and staged a technical correction in the first half of the day on Thursday. After dropping to $41.50 area, however, the barrel of West Texas Intermediate (WTI) gained traction during the American session and was last see gaining 0.9% on the day at $42.55. Iraq further reduces oil output in August Earlier in the day, Iraq's oil… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
