The financial markets reacted with a lightning speed to this data. The Dollar Index benefited from the OPEC rally, as the index reached 101,83 price level. In turn, this created an extra pressure on gold futures. Likewise, the Dow Jones Industrial Average was marked with a record figure 19225,29, as stocks pushed higher upon OPEC Deal.
It has been a hard year for the black gold, as the prices were fluctuating in the range $44/b – $54/b. Considering the fact that the cut in the oil production increases the demand for this commodity, the prices of oil futures exceeded $50/b. Talking about Brent Oil in particular, the price has risen significantly since February 1, 2016. From the ultra-low level of $27,88/b, Brent Oil price surged to $53,62/b following the announcement made by OPEC.