Brent crude crosses $50 barrier; gold loses $6/ounce

Dubai-UAE (Sept 3)  Nymex crude oil rose by 1.9% or $0.84 on Thursday to close at $46.25. It fell yesterday to $43.21 per barrel.

Brent crude also rose 1.9% or $0.94 to close at $50.50 per barrel.

OPEC output declined in August, due to a breakdown in a pipeline in northern Iraq , to reach 31.71 million bpd, down from 31.88 million bpd in July.

Meanwhile, gold futures for December delivery slid at settlement by 0.5% or $6.2 to reach $1,133.60 per ounce.

Source: Reuters