Commodities

Oil prices experienced a decline on Monday, with Brent oil futures edging closer to $80 per barrel as investors awaited the OPEC+ group meeting scheduled for this week to determine the extent of production cuts in 2024. As of 02:31 GMT, Brent crude futures dropped by 37 cents, or 0.5 …

Gold prices surged to a six-month high in current trading, buoyed by the decline of the US dollar. The ongoing belief that the Federal Reserve has completed its interest rate hike cycle further contributed to the positive momentum in the precious metal. Investors are closely watching US inflation data scheduled …

Data from the German statistics office confirmed on Friday that the country’s economy contracted slightly in the third quarter compared to the previous three months. The initial estimate, published in late October, indicated a contraction of 0.1 percent, which has now been substantiated. Ruth Brand, head of the Statistics Office, …

Oil prices fell on Friday due to the release of hostages in Gaza, but prices gained their first week of gains in over a month ahead of the OPEC+ meeting to decide on production cuts in 2024. Brent crude futures settled down 84 cents at $80.58 a barrel, while American …

The Gold Index is surging to $2000. Following mixed S&P PMIs, the US dollar declined. Increased US interest rates could restrict the precious metal’s growth. Profiting from mixed S&P PMIs and a declining US dollar, gold is gaining ground on Friday. The pair, which is often known as the price …

Brent crude futures rose on Friday, recouping some of the previous session’s losses as traders tried to guess whether the OPEC+ alliance would reach an agreement that would lead to further production cuts. By 0800 GMT, Brent crude futures rose 19 cents, equivalent to 0.23 percent, to $81.61, after falling …

Gold price has increased by 0.14% due to thin trading conditions during Thanksgiving, with the price currently trading at $1992, gaining 0.14% after hitting a daily low of $1989.56. The gold price benefits from declining US Treasury yields and USD weakness, trading near the $2000 mark. European equities closed in …

China’s independent refiners, known as teapots, are holding off on making new purchases due to wide discrepancies in offer prices. Since the suspension of US sanctions on Venezuelan oil in mid-October for six months, global energy firms and trading houses Vitol, Gunvor, and Trafigura have gradually resumed purchases. The independent …

The Riksbank kept the interest rate unchanged at 4% on Thursday, November 23, but said it was ready to raise it further if inflation expectations deteriorated. The central bank raised interest rates from zero levels in April 2022, in a series of increases to combat high inflation caused by Covid …

Oil prices fell by about one percent on Wednesday in a volatile session, with the OPEC+ alliance suddenly postponed a meeting to determine production policy that was scheduled to be held next Sunday, raising questions about the future path of crude production cuts. Brent crude futures fell 49 cents to …