Commodities

The end of summer vacations in the US has led to lower demand for oil, with China’s recovery after lifting strict Covid-19 measures diminishing demand. Saudi Arabia and Russia’s extended crude oil production have cushioned WTI’s price drop, causing it to trade at $82.45, below its opening price of $83.26.The …

Despite caution ahead of US CPI, the gold price rises as the US dollar corrects to US CPI. The imminent release of the Consumer Price Index (CPI) statistics for the United States on Thursday has encouraged the gold price to try to recover. The impact of a slowdown in business …

Oil prices continued their gains on Monday, August 7, to touch their highest levels since mid-April, after Saudi Arabia and Russia, two of the major oil producers, pledged to continue cutting supplies for another month, aiming to continue balancing global markets and supporting prices. By 00:23 GMT, Brent crude futures …

Gold prices rose Monday, August 7th, after data showing slower-than-expected job growth in the United States negatively affected the dollar and the yield on Treasury bonds, to retreat from high levels they reached recently. Investors are anticipating an inflation test this week that may affect the path of raising interest …

Petrobras retreated -0.5% pre-market Friday after Q2 earnings fell by nearly half from a year earlier on lower oil prices and a sharp drop in international crack spreads for diesel.Q2 net income fell to 28.8B reais (~$5.9B) from 54.3B reais in the year-earlier quarter, and recurring net income, which strips …

Two OPEC+ sources said the meeting of the group’s senior ministers’ committee kept oil production policy unchanged on Friday. The committee, called the Joint Ministerial Monitoring Committee, includes ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, within the framework of what is known as …

Oil prices rose for the second day in a row on Friday and are set to achieve a weekly gain for the sixth time in a row, after Saudi Arabia and Russia pledged to cut production until the end of next month. Brent oil futures for October delivery rose 30 …

Gold appears to be heading for its worst weekly performance in six weeks on Friday, as investors await the closely watched US jobs report, after a batch of strong economic data this week pushed US Treasury yields to their highest levels in nine months. Spot gold rose 0.1 percent to …

In Q2, productivity growth rebounded sharply, outpacing predictions and increasing at a rate of 3.7%. The increase in output per hour worked over the past year has increased by 1.3%, the first positive yearly improvement since late 2021. Productivity is on the rise, and nominal pay growth is moderating, both …

The price of gold is consolidating its losses on Thursday, trading around the $1,930 range after dropping to its lowest level in over a month at $1,929.48 per ounce. The price of the precious metal at the time of writing is $1933.55. The decrease was caused by the US dollar’s …