Commodities

Sources told Reuters, citing figures from the American Petroleum Institute, that oil stocks in the United States fell last week, while fuel stocks rose. According to the sources, data from the Petroleum Institute showed that crude stocks fell by 3.8 million barrels during the week ending June 24, while gasoline …

Gold lost some ground and settled around $1,820 per ounce, but crude oil prices kept rising amid supply concerns. G7 leaders discussed an agreement to impose a price cap on Russian oil, as sanctions on the crypto sent crude prices skyrocketing. WTI is now at around $111.60 a barrel.The US …

The Canadian dollar strengthens 0.3% against its American counterpart on Tuesday. The CAD has touched its strongest level since June 13 at 1.2820.Easing COVID-linked restrictions in China boosted the investors’ sentiment. Global shares were higher and the price of oil, one of Canada’s major exports, rose following China’s decision to …

The Gold Index prolonged its losses for the second successive day. Gold is struggling to stay above the $1820 mark amidst the prevalent positive market sentiment that witnessed a jump in riskier assets, weighing on safe-haven assets, particularly in the precious metal segment.Gold trades at $1820.72, recording minimal losses of …

The United States will prohibit Russian gold imports in the latest round of sanctions according to the Treasury Department. The Department announced this news on its website on Tuesday.The market has not reacted to this news headline yet. The Gold Index was down 0.15% on the day at $1,820.Additional takeaways“US …

OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members’ active rigs posted a modest rebound and new completed wells declined, data from the group showed. The value of petroleum exports by the 13-member Organization of …

G7 leaders agreed to consider a ban on the transport of Russian oil being sold above a certain price, according to part of the final statement seen by Reuters. “We invite all like-minded countries to consider joining us in what we are doing,” the G7 leaders said.

Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

Gold advanced at the beginning of the day, but finishes it in the red at around $1,824.00 per ounce. WTI, records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ cuts 2022 market surplus from …

Gold is under pressure despite the weaker the US dollar. At $1,823, gold price is down by 0.23% while the US dollar is also underwater, currently down by 0.18%. The US dollar has struggled versus its major rivals at the start of the week due to expectations concerning inflation which …