- Tariq Zahir, Tyche Capital Advisors
The number of job openings in the United States increased more than expected during the sixth month of the year, official data showed on Wednesday. According to the US Department of Labor, the number of positions waiting to be filled rose to 5.62 million in June, following last month's upwardly revised figure of 5.51 million. Market analysts anticipated a slight increase to 5.52 million in the reported month. Furthermore, there were 5.1 million hires and 4.9 million separations with 2.9 million quits in June. The JOLTS report is closely followed by Federal Reserve chair Janet Yellen, who often cites it when assessing the state of the labour market.
US crude oil inventories rose for the third consecutive week, surpassing analysts' expectations, the weekly report from the Energy Information Administration revealed on Wednesday. US commercial crude inventories increased by 1.1 million barrels in the week ended August 5, following the 1.4 million barrel rise posted in the previous seven days. Meanwhile, markets expected a decrease of 1.3 million barrels in the reported period. Recently, the International Energy Agency revised up significantly its 2017 global oil demand growth forecast to 97.4 million barrels per day, whereas the World Bank downgraded its 2016 global growth forecast to 2.4% from January's 2.9%.
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