OPEC

Strong dollar clobbers precious metals, while oil futures continued to rally for fourth successive session.

Indian markets declined amid surgical strikes by the Indian forces on Pakistan-administered Kashmir region.

Brent crude rose to $49 a barrel on the news after a meeting of the cartel in Algeria.

Brent and WTI rallied on Algerian energy minister's claim that a production freeze agreement was on the horizon.

Boss of state-owned fuel behemoth also expects oil market to remain volatile in the near future.

Algerian oil minister Noureddine Bouterfa hopes to achieve 'elements of an agreement'.

Crude futures continued to falter as Opec's monthly report pointed to rising global oil supplies

The two countries account for more than 25% of the world's crude oil production.

Futures rose by 1.5% after two of the world's leading producers agree to try to stabilise global supply.

Saudi Arabia sought to reassure the oil market while a stronger dollar dragged crude and precious metal futures lower.

Output freeze will indicate contentment with oil market situation, says Saudi minister Khalid Al-Falih

Investors are now said to be looking forward to clarity from US Fed chairperson Janet Yellen on interest rate increase.

Saudi willingness to discuss an oil production freeze continues to support oil prices.

Crude futures enter steady mode but precious metals lose shine on stronger dollar.

Money managers increase bets on oil prices falling despite price rises seen over the past 24 hours.

Market speculation that Opec is working on another bid to cut production sends oil futures on recovery run

Silver futures cap $20 an ounce while supply outages help oil prices recover.

Brent August futures traded above $50 per barrel level bucking the decline in US oil inventories.

Investors awaiting release of US Labor Department's non-farm payroll data for May.

Mohammed Sanusi Barkindo named as new secretary general.

Riyadh reportedly in favour of imposing ceiling on Opec's collective crude output to support weak prices.

Opec ministers debate oil market supply and demand ahead of expected policy decision.

Iran's deputy oil minister said Tehran will target boosting crude exports to pre-sanctions levels.

This is amid non-Opec countries reducing their oil production.

Despite the Doha Opec meeting failing to freeze output, there are reasons why oil prices can recover.

Talks fail after Saudi Arabia demands arch-rival Iran's participation in freeze.

IEA says agreement to cut oil output is meaningless as Saudi Arabia is only country capable of increasing production.

This announcement earlier overshadowed US government data that indicated its oil output was at record highs.

Country's oil minister said given recent sanction, Iran should be exempt from any production cuts.

South American country will still have the cheapest fuel prices in the world.