Commodities

Oil prices fell in early Asian trade on Monday as investors were cautious ahead of new economic data from the United States and China this week, while expected cuts in crude production from Saudi Arabia and Russia supported the market. By 0107 GMT, Brent crude futures were down 22 cents, …

Gold prices rose in early Asian trade on Monday after last week’s US jobs data overshadowed the strength of the labor market, prompting investors to be more cautious about the path of US interest rate hikes. By 0104 GMT, spot gold rose 0.1 percent to $1925.49 an ounce, and US …

Dubai TV interviewed Mohammed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, to comment on the US Non-Farm Payrolls report, which is a monthly report that the markets are closely awaiting. Asked whether it is expected to witness a decline …

President Joe Biden’s administration announced Friday it’s purchasing 6 million more barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. The purchases, scheduled for October and November, come as the nation’s oil reserve is at its lowest point in 40 years …

Gold price has moved higher near $1,915.00 ahead of US NFP data. After the NFP data release that missed expectations and indicated the addition of 309k jobs in the US during June, gold touched $1,925 per ounce. S&P500 futures are consistently extending losses as investors are anxious ahead of the …

The US Dollar posted mixed results, weakening versus the Euro, the Pound, and the Yen, and rising sharply against commodity currencies. Upbeat US data boosted expectations of another interest rate hike from the Federal Reserve (Fed) and weighed on US stocks. The deterioration in market sentiment and lower commodity prices …

Gold has experienced a 0.20% loss due to robust US job readings and mounting rate hike expectations, driving US Treasury yields higher. Dallas Fed President Lorie Logan’s hawkish comments and a strong ADP report support the expectation of a July rate hike. Traders anticipate further clues from the upcoming US …

 WTI crude declines by more than 1% as the dollar-denominated commodities are hurt by a stronger US dollar and concern about Fed tightening. Mixed labour market indicators from the US and increased business activity heighten the likelihood of a rate hike in June. Fears of a recession brought on by …

Al-Arabiya channel quoted the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Ghais as saying on Thursday that he expects the organization’s market share to rise to 40 percent between 2040-2045. He added that this will happen “after a decrease in production from countries outside the OPEC …

Gold settled Thursday, July 6, as investors await a set of US economic data that may affect the course of the US Federal Reserve’s monetary policy, after publishing the minutes of its June meeting, which supported expectations of raising interest rates for a longer period. By 0241 GMT, gold settled …