Commodities

On Tuesday, US WTI crude is reaching new ten-month highs. According to reports, the US shale output may fall faster than anticipated. Aiming at $100 per barrel, the outlook for oil is firmly favourable. In Tuesday’s trading session, WTI crude oil barrels briefly crossed the $93.00/bbl mark, before retreating to …

Gold prices rose to their highest level in two weeks on Tuesday, September 19, as the dollar fell from its highest level in 6 months before the start of the US Federal Reserve’s monetary policy meeting later today, and with markets awaiting a new set of economic forecasts from the …

While speaking before the World Petroleum Congress in Canada, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman noted that Saudi Arabia is targeting less volatility in energy markets rather than targeting prices. Crude oil prices continue to edge higher following these statements and the barrel of West Texas Intermediate was …

The Russian Congress Fund said on Monday that Russia’s United Oil and Gas Chemical Company and China’s Shanyuan Industrial Development Company have agreed to pump joint investments worth five billion yuan ($686 million) to build an oil shipping complex in Russia’s far east. The complex will facilitate the export of …

Oil prices rose on Monday, supported by expectations of a widening supply deficit in the fourth quarter of the year after Saudi Arabia and Russia extended production cuts, in addition to optimism about the recovery of demand in China, the largest global importer of crude. By 0027 GMT, Brent crude …

Gold prices stabilized on Monday as investors continued to take into account the Federal Reserve’s possible halt to raising interest rates at its monetary policy meeting this week, with a focus on the US central bank’s interest expectations. By 0056 GMT, gold prices in spot transactions settled at $1,924.29 per …

US stocks ended trading on Friday with a sharp decline, with chip makers falling on concerns about weak demand, while rising Treasury yields pressured shares of Amazon and other growth companies with huge market value. Shares of chip equipment maker Applied Materials, Lam Research and KLA Corp fell after Reuters …

WTI crude oil has rebounded to hold $90/bbl, despite a small drop on Friday. Extended production cuts from OPEC member states are putting a tight squeeze on crude markets, sending US crude to ten-month highs. Saudi Arabia and Russia have recently announced an extension of their current oil production cuts, …

China’s factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support steps that are showing signs of stabilising parts of the wobbly economy. Chinese policymakers face a daunting task in trying to revive …

Oil is heading for gains for the third week in a row, as the scarcity of supply resulting mainly from Saudi Arabia’s reduction in production coincides with optimism that the Chinese economy is finally beyond the stage of danger. By 1149 GMT, Brent crude rose 37 cents to $94.07 a …