Oil Hits Three Year Highs, Has Investors Betting On More Increases – 15 May, 2018

Sterling fell to its lowest since December against the dollar, falling 0.6 percent to $1.3452, but traded up against the euro by 0.1 percent to 87.91 pence. The dollar index rose 0.2 percent, and the euro fell by 0.1 percent to $1.1935. Gold futures slipped 0.5 percent to $1,313.90 per ounce, and oil prices rose past 3 year highs. West Texas Intermediate gained 0.6 percent to $71.10 per barrel as OPEC cut worldwide inventories by millions of barrels, with some experts betting prices could rise to $80-$90 per barrel margins by the end of the year.