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Output freeze will indicate contentment with oil market situation, says Saudi minister Khalid Al-Falih
Traders appeared to be nervous as Janet Yellen is expected to provide a hint on interest rate increase.
Crude futures rise over another roller coaster session while precious metals head lower ahead of Yellen comments.
Yellen is expected to provide clues about the US central bank's next move on interest rates.
Crude futures continue retreat as greenback rallies ahead of Yellen speech and US crude stockpiles rise.
US new-home sales in July increased to their highest levels in nearly eight years.
Investors expect Yellen to give a hint about the timeline of the next rate increase in her speech.
Oil and precious metal futures retreat from previously high levels as traders look to cash in on price uptick
Investors expect Fed chair Janet Yellen to hint at an increase in US interest rates.
Oil futures remained in bull territory despite the current rally showing signs of petering out
Investors are now said to be looking forward to clarity from US Fed chairperson Janet Yellen on interest rate increase.
Brent up by almost 20% on its previous low which is close to the common definition of technical bull run.
US Fed officials split on the timing of future rate increase.
Precious metals retreated before the release of the US central bank's minutes of its latest monetary policy meeting.
New York Fed President William Dudley says the US central bank could raise interest rates as early as September.