U.S dollar held firm despite increasing tensions in the Korean Peninsula

Although concerns about potential conflict in the Korean Peninsula intensified, the United States dollar was able to relatively maintain its strength vs. its Japanese counterpart on Tuesday, trading at 112.670 yen.  On Friday, the greenback recorded a near three-month high of 113.440 yen.

The dollar index closed at 93.557 after slightly going down by 0.1%. Despite that, the index is still near its 10-week high of 94.267 touched on Friday. A report last week which mentioned North Korea’s preparations for testing a long-range missile which can reach the U.S. west coast weakened the greenback though less than expected. The dollar is currently well supported by macro-economic data published on Friday which indicated a steady growth in wages in the United States.

Prices of oil ascended as OPEC seriously considers output cut extension

Prices of oil ascended on Monday thanks to comments released by OPEC Countries about possibility of extending the deal to limit oil production in order to rebalance the market. U.S. West Texas Intermediate traded at $49.58 per barrel after climbing by 29 cents or 0.6%. The international benchmark, Brent crude futures, traded at $55.79 a barrel at 1725 GMT.

The storm Nate seems to be a non-event for refining. According to the news announced by the U.S. National Hurricane Center, Nate has become no more than a post-tropical cyclone with heavy rains and gusty winds.

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