Commodities

The Organization of the Petroleum Exporting Countries and its allies agreed to revive more of the suspended production as the prospects for global oil markets improve, amid expectations that demand will be able to withstand the repercussions of the new Coronavirus mutant. Delegates said the 23-nation coalition led by Saudi …

OPEC lowered its forecast for the excess supply of oil in global crude markets during the current quarter, a day before the group’s meeting scheduled for tomorrow, Tuesday. And according to internal research conducted by the group and its allies on Monday and reported by the “Bloomberg” agency, the oil …

Oil prices rose in trading on Tuesday, with investors expecting oil producers to boost supplies at Tuesday’s meeting, indicating that demand for fuel remains strong despite the spread of the Omicron mutant. Brent crude futures rose 43 cents to $79.05 a barrel, while US West Texas Intermediate crude recovered its …

Gold prices rose on Tuesday after rising US bond yields, supported by bets that the Federal Reserve would raise interest rates faster than expected, pushed the precious metal to its biggest drop in six weeks in the previous session. And gold rose 0.2 percent in spot contracts to $ 1804.40 …

OPEC and allies will have their twenty fourth meeting Tuesday to proceed with their plan to increase production by 400,000 barrels per month in January; the move was agreed to in December aiming at stabilizing the rising oil prices caused by low supply and global supply remains low. This may …

Three sources from the OPEC + group said that the alliance is closer to committing to its plans to increase production in February, with a slight and short-term impact on demand from the Coronavirus, Omicron is likely. In a technical report seen by Reuters on Sunday, OPEC+ downplayed Omicron’s impact …

Oil prices rose on Monday as the market started 2022 positively ahead of a meeting of the OPEC+ group on Tuesday, although the increase in COVID-19 cases continued to dampen demand sentiment. Brent crude, the global benchmark, rose 59 cents, or 0.76 percent, to $78.37 a barrel by 0440 GMT. …

Gold prices rose to a six-week high before giving up their gains and stabilizing on Monday after gold buying, boosted by higher infections of the mutated Omicron strain of the coronavirus, offset pressure from higher US Treasury yields. There was little change in the price of gold in spot transactions, …

US Vice President Kamala Harris defended the Build Back Better (BBB) stimulus plan during an interview on CBS’ “Face The Nation” TV show. Harris stressed inflation and coronavirus as major concerns and top priorities in 2022. “The United States must address the rising cost of consumer goods”, she added.Risk sentiment …

Gold headed for its first decline in three years on Friday as the global economy recovered, reducing the appeal of safe havens as central banks prepared to raise interest rates to control inflation. And by 1035 GMT, gold in spot transactions rose 0.2 percent to $ 1817.57 an ounce, and …