Commodities

Gold prices rose on Wednesday to finish at their best level in about a month, supported the decline of the U.S. Dollar (USD) and Treasury bond yields after the Federal Reserve Chairman Jerome Powell assured Congress that the high inflation will eventually ease. This means that the Fed will be …

The U.S. Energy Information Administration (EIA) on Wednesday reported another decline in crude oil inventories for the eighth consecutive week. Crude oil inventories decreased by 7.9 million barrels for the week ended July 9. The eighth consecutive weekly fall in oil supplies, despite being expected, has exceeded most market expectations. …

Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar Gold touches a high of 1825 as we mentioned in our morning report after it got the bullish momentum at 1797 taking advantage of falling USD. The yellow metal rose after …

Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar, while the focus is now on US Federal Reserve Chairman Jerome Powell’s speech to Congress later today after the strong rise in consumer prices. And gold rose in the spot market …

Crude oil inventories in the United States are expected to further drop, with official data due on Wednesday by the U.S. Department of Energy’s Energy Information Administration (EIA). Last week, data showed that U.S. oil stockpiles declined for the seventh consecutive week by 6.866 million barrels. A drop that exceeded …

Oil prices rose on Tuesday, despite concerns about the coronavirus Delta variant and uncertainty about the OPEC+ output policy, mainly amid expectations of another drop in crude inventories in the United States. Brent crude for September delivery rose by $1.33, or 1.77%, to settle at $76.49 per barrel, registering its …

Gold prices rose on Tuesday, supported by the surge in U.S. inflation and concerns about the resurgence of the coronavirus (COVID-19) pandemic with the spread of the Delta variant. Today’s gains came despite a mostly positive performance by the U.S. Dollar (USD) with more investors hedging against the rising consumer …

Gold rose in Tuesday morning trading in Asia, settling to a one-week low hit during the previous session. While the dollar weakened ahead of US inflation data that could indicate when the US Federal Reserve is likely to start declining assets. Gold futures were also up 0.24 at $1,810.15, dropping …

Stalled talks among major oil producers about pumping more supplies could deteriorate into a “price war”, the International Energy Agency said Tuesday, July 13, as COVID-19 vaccines drive up crude demand. The agency added that the possibility of a battle for market share threatens markets, even if it is a …

Oil prices rose on Tuesday, July 13 to compensate for most of the losses it incurred the previous day, as the market received support as a result of tight supplies, along with expectations of more withdrawals from US crude stocks, but fears of the spread of Covid-19 strains curbed the …