Commodities

Switzerland is planning to set up more regulation and scrutiny for commodity traders to get more info as well as intelligence about this sector that is flourishing every single day.The move comes in line with the West tries to monitor Russia’s commercial ties and impose sanctions aiming to punish Moscow’s …

Following its meeting on Thursday, OPEC+ announced on Thursday that it will stick to its plan of increasing oil output by 648,000 barrels per day (bpd) in August, as reported by Reuters. The group refrained from discussing the output strategy from September. Meanwhile, Russian Deputy Prime Minister Alexander Novak said …

Oil prices retreated by about 2% on Wednesday amid rising US gasoline inventories and worries about slower economic growth around the world in addition to ongoing concerns about tight crude supplies. Brent futures fell $1.72, or 1.5%, to settle at $116.26 a barrel. The August contract will expire on Thursday …

Gold reversed from two-day highs and is back near weekly lows as the US dollar surges after comments by key central bankers in their speeches before the ECB Forum from Portugal.Gold prices dropped sharply during the US trading session, erasing daily gains. XAU/USD peaked at $1833, the highest level in …

Oil prices rose on Wednesday for the fourth consecutive session after fears of a lack of supply outweighed concerns about a global economic slowdown. Brent crude futures, the benchmark for August, saw little change to $117.9 a barrel by 0917 GMT. The August contracts expire on Thursday, and the September …

Oil prices fell on Wednesday after rising for three consecutive sessions, affected by concerns about the global economy, while restrictions on supply eased. Brent crude futures fell $0.98, or 0.8 percent, to $117 a barrel. US West Texas Intermediate crude futures fell $0.62, or 0.6 percent, to $111.14 a barrel. …

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 …