Rising oil and gold .. and the decline in global markets after the remarks, "Lagarde"
4/6/2016
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Oil prices jumped, with the hopes that the producers agreed to freeze production levels of agreement, amid oversupply in the market, although Iran plans to increase production.
Said Nawal Fezia governor of Kuwait, the Organization of the oil-producing countries (OPEC), said that there are positive signs to reach a tentative agreement between the oil-producing countries in the meeting scheduled for the 17th of April in the ongoing Doha in order to stabilize oil production levels.
It rose US crude futures about 2.8 percent to become of $ 36.89 a barrel by 2:40 pm, while Brent crude reached 38.55 dollars, up by 1.8 percent, according to a report by the agency "Reuters".
Oil had fallen on Tuesday after signs of weakening demand in the US and Asia, who form a pillar of the producers, along with fears of continuing oversupply longer.
Oil prices have lost nearly 70 percent of their value since mid-2014, due to oversupply in the market and a slowdown in global growth.

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