High oil prices supported by expectations of reduced production <El Watan newspaper

LONDON (Reuters) – Oil futures jumped by more than $ 1 a barrel on Thursday, recovering half of the losses of about 5 percent recorded in the previous session, while lower prices could reduce the production.
At 6:34 GMT, Brent crude reached $ 57.81 per barrel, up $ 1.58 or 2.81% from the previous close. Standard wheat futures in the western United States in Texas rose $ 1.61, or 3.15%, to $ 52.70 a barrel.
Crude futures have fallen to their lowest level since last January, after a surprise rise in US crude stocks and fears that demand growth this year will be affected by the trade war between China and the United States. United States.
Crude prices rose on Thursday because of forecasts that Saudi Arabia, the world's largest oil exporter, and other producers of the Organization of Petroleum Exporting Countries (OPEC) could support the market by reducing supplies, badysts said.
Bloomberg said in a report Wednesday, citing a Saudi official, that his country was in talks with other producers in order to stem the fall in oil prices.
Gold remained steady on Thursday, oscillating near the significant psychological level of $ 1,500, supported by uncertainties surrounding the US-China trade war and a series of rate cuts. Interest by global central banks, in fear of an economic downturn.
At 6:20 am GMT, gold is cash settled at $ 1501 an ounce.
On Wednesday, prices rose more than 2%, exceeding $ 1,500 for the first time since April 2013.
Futures on US gold fell 0.3% to $ 1,515.20 an ounce.
Chicago Fed President Charles Evans hinted on Wednesday that he was open to a rate cut in order to boost inflation and counter global growth risks.
Another sign of the economic slowdown, central banks in New Zealand, India and Thailand surprised the markets with a monetary easing marked Wednesday. The central bank of the Philippines is expected to lower interest rates later on Thursday.
Meanwhile, the dollar index fell 0.1% after reaching its lowest level in two weeks earlier this week.
Asian stock markets advanced on Thursday as Beijing announced better trade data while curbing the yuan's decline, temporarily easing fears of a global currency war.
For other precious metals, silver rose 0.1% to $ 17.11 an ounce, hovering around the highest level for more than a year, which I 've seen. had already touched in the previous session.
Platinum rose 0.5% to $ 865.84 and palladium 0.7% to $ 1,424.64 an ounce.