Oil prices fell on Wednesday after data showed that US crude stocks rose more than expected amid fears that demand for fuel will be dented by the increase in Covid-19 cases in China, the world’s largest importer of crude. Brent crude futures fell 44 cents, or 0.5 percent, to $94.92 …
Read More »WTI retreats below $90 on concerns about China, US elections
Oil price retreated on fresh fears about Chinese demand. The US dollar’s reversal has failed to support crude prices. WTI falls beyond 2% on the day to hit session lows near $90.00. Oil prices have extended losses for the second consecutive trading day on Tuesday, as hopes about a relaxation …
Read More »Gold set to close with over $38 gain in one big day
Gold and silver prices are sharply jumping up, with gold hitting a four-week high and trading back above $1,700.00 in late-morning US trading Tuesday and even to $1,713.34 at the time of writing versus the pervious closing price at $167548 per ounce on Monday.Silver hit a more-then-four-month high today. The …
Read More »Gold jumps to 5-week high, approaching $1700
Gold price creeps higher amid the lack of US economic data as investors observe the results of the US mid-term elections and October’s CPI. Treasury yields are lower on the day, while expectations for a 50 bps rate hike by the Fed stood above 50%. Gold price is subdued as …
Read More »Gold falls on dollar strength ahead of US midterm elections
Gold prices fell on Tuesday, November 8, due to a slight rise in the dollar, in addition to shifting investors’ attention to inflation data in America, which is expected to be released next Thursday. Markets are awaiting inflation data because of its impact on the Federal Reserve’s decision to raise …
Read More »Oil prices fall amid concerns about Chinese demand and recession
Oil prices fell on Tuesday, as fears of a recession and the worsening outbreak of the Coronavirus in China raised expectations of lower demand for fuel, outweighing concerns about supplies. Brent crude fell 23 cents, or 0.2 percent, to $ 97.69 a barrel by 0726 GMT, while US West Texas …
Read More »Gold benefits from US dollar’s slide ahead of CPI data
Gold prices steadied on Monday near a three-week peak hit in the previous session, buoyed by a weaker dollar, while investors looked forward to U.S. inflation data later this week that could influence the size of Federal Reserve rate-hike.At the time of writing, the precious metal is trading at $1676.25. …
Read More »WTI rallies as US dollar impacted by risk-on
American crude oil rallies and trades at $92.24, benefiting from the US dollar which is losing ground. WTI prices resumed the upward trend that started on Friday as the US crude oil bounced up from levels right above $90 on the early trade, to reach levels past $93 for the …
Read More »Oil stabilizes below $100 a barrel after Chinese data
Oil prices stabilized Monday, November 7, hovering around $100 a barrel, as support from a weaker dollar and a recovery in Chinese crude imports were offset by renewed demand concerns linked to China’s tough approach to containing the coronavirus. By 10:26 GMT, Brent crude futures rose 6 cents, or 0.06%, …
Read More »Oil prices fall after China confirms commitment to a strict anti-Corona policy
Oil prices fell more than 2% in early Asian trading on Monday after Chinese officials affirmed over the weekend their commitment to a tough approach to containing the Corona virus, dashing hopes of a recovery in oil demand in the world’s largest importer of crude. Brent crude futures fell $1.58, …
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