On Thursday, crude prices kept going down during early Asia trade, being weighed down by the ongoing growth in American oil stocks as well as the record-peak output by Saudi Arabia.
The combination of the two factors indicate that, notwithstanding the multiple supply disruptions as well as the steady dip observed in American production for recent months, the world’s still oversupplied.
In New York, September delivery light, sweet crude futures were worth $41.50 per barrel, down 0.5%. Meanwhile, October delivery Brent crude futures sagged 0.5%, trading at $43.83 per barrel.
Crude prices descended overnight after the Energy Information Administration data disclosed a 1.06 million-barrel growth in American crude inventories by August 5, thus pushing total stocks to 523.6 million barrels and also 37.7% above the five-year average for the same time of 2015.
The build actually reflects the soaring glut of refined products in the American market, that has led to lower margin and also reduced demand for oil.
Gold goes down in Asia
Gold tumbled during Asia trade as market participants booked profits and kept an eye open on the greenback’s weakness.
In New York, December delivery gold futures eased 0.06%, trading at $1,351.05 per troy ounce. September delivery silver futures ascended 0.15%, hitting $20.200 per troy ounce, while September delivery copper futures soared 0.23%, trading at $2.178 a pound.
Overnight, gold grew on Wednesday, as the greenback sagged steeply against a basket of its key counterparts, thus helping to provide a slight support to the most popular yellow metal in quiet, range-bound trade.
Market participants keep closely monitoring American employment data for a gauge on the strength of the labor market, following last Friday's upbeat jobs data for July. Additionally, on Wednesday, the US Department of Labor informed that in June, job openings soared by about 2% to 5.624 million from a relatively soft revised annualized rate of 5.514 million last month. Financial experts expected to see moderate surges on the month to 5.588 million.
The snipers shot dead five policemen and wounded seven other policemen in a protest in Dallas, USA on 7th of July - The AP quoted the officials. This is considered to be the date on which US law enforcement forces suffered the most serious human loss since the terrorist attacks 11th of September, 2001.
12 police were killed and injured in protests against the police shot dead the blacks. Their blood was shed not far from where President John F. Kennedy was assassinated in 1963 and increased the ache of the United States during the upheaval of the civil authorities.
Dallas Police Chief - David Brown has accused "the snipers' causing the bloodshed of 12 police and said that three suspects were caught. Mike Rawlings, Dallas mayor, said a fourth suspect was killed in a gunfight with police.
Now the identity of the suspects has not been announced yet. Mr Brown said that before his death the killed suspect was angry due to that blacks were shot by police recently and he wanted to kill whites.
Sniping case occurred at nearly 9 pm when hundreds of people gathered to protest because police shot dead the blacks in Baton Rouge, Louisiana and suburban St. Paul, Minnesota. Brown, a sheriff, told reporters that the snipers acted according to "ambush style" against the police.
Besides two civilians also were wounded.
Mr Brown told that it seems the gunmen "planned to wound and kill many policemen as possible". A recorded video showed the protesters were on the road, the shooting suddenly happened and crowds stampeded to find a shelter.
Also in the evening of 7/7, protests took place in many other US cities. A police in Minnesota killed a black person named Philando Castile on the evening 5th of July when he was in the car along with woman and one child, and other black person called Alton Sterling was shot dead by police in Louisiana.
Both cases were recorded by mobile phone and uploaded on the Internet.
US President Barack Obama said that America was "terrified" before many policemen were shot dead and no reason can justify this attack. Obama called it "cruelty, deliberate and abhorrent".
Speaking from Warsaw, Poland, where he is attending the important conference of NATO, Obama said justice will be enforced and suggested all Americans to pray for the dead policemen and their families.
The head of the White House said the United States should also express gratitude to the people in charge of law enforcement.