Yesterday’s trading session was devoid of any major data releases, however the huge rally in oil has been the main catalyst for most of the moves in markets over the past 24 hours. It all started just before I posted yesterday morning with the release of a joint statement from the energy ministers of Saudi Arabia and Russia concluding that the current production cuts agreement should be extended until Q1 2018.WTI and Brent jumped over 1.5% on the news and then continued to rally for most of the session gaining over 3% at one point. Prices have eased a little over the past few hours however, capping the gains to 2%. Copper (+1%), Aluminium (+0.9%) and gold (+0.25%) have followed the move in oil, but iron ore has been one exception, down 0.9%, closing the day at $60.8.Equities also benefited from the move with energy, materials and financial sectors leading the gains on both side of the Atlantic.

To mark my 1350th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on for details.

For anyone following my Platinum Service it was flat yesterday as none of my trades got executed in a trading session of very narrow misses on my calls, and we are still ahead by 583 points for May, having made 1276 points in April, 1335 in March, 1481 in February and 1734 in January. The previous seven months saw gains of 1351, 1971, 1582, 1142, 1782, 1682 and 2550 points respectively. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

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