Commodities

Crude oil inventories in the United States declined by 1.6 million barrels last week, according to estimates by the American Petroleum Institute (API). Gasoline stockpiles decreased by 985,000 barrels, and distillate inventories fell by 245,000 barrels. The official weekly report by the Energy Information Administration (EIA) is due on Wednesday.

Oil prices rose on Tuesday for the second consecutive session, recovering some of its recent losses, amid output disruptions in North America. Brent crude futures for October delivery closed higher by $2.30, or 3.35%, at $71.05 per barrel, to close at its highest level since August 12. Meanwhile, the West …

Gold prices fell on Tuesday, August 24th but hovered above the psychologically important $1800 level, as the growing threat from increased delta cases fueled expectations that the Federal Reserve may delay easing its accommodative stance. Spot gold fell 0.1% to $1,803.53 an ounce, after jumping about 1.4% on Monday. And …

Oil prices rose on Tuesday, August 24 after the US Food and Drug Administration granted full approval for the use of the Pfizer-BioNTech vaccine against Covid-19, raising investors’ hopes of higher fuel demand due to a possible increase in US vaccination rates. Brent crude futures rose 46 cents, or 0.7%, …

Oil prices closed higher on Monday with their best performance in five months, recovering most of their losses last week, despite lingering concerns over the spread of the Coronavirus Delta variant. Today’s rebound, the highest since March 24, snaps a seven-session declining streak for oil futures, which brought them to …

Gold prices rose for the second straight session on Monday, building on the U.S. Dollar’s (USD) decline across the board against major currencies amid selling pressures following its surge to a nine-month high by the end of last week. Gold’s front-month futures added $22.20, or 1.25%, to finish at $1803.2 …

Dubai TV interview with Mohamed Hashad, R&D Director at Noor Capital Speaking to Dubai TV on Monday, Mohamed Hashad, Director of Research and Development at Noor Capital, discussed the current situation across global markets, with anticipation for a number of developments over the course of the week. USD The U.S. …

Oil prices jumped more than 3% Monday, August 23, after a seven-day losing streak driven by a weaker dollar, despite demand concerns fueled by an increase in cases of the mutated delta strain of the coronavirus. Brent crude rose $2.17, or 3.2%, to $67.35 a barrel by 09:01 GMT, after …

Monday’s survey showed that the strength of business activity in the eurozone continued this month, but down from the highest pace in two decades recorded in July, as the pace of vaccination campaigns allowed more companies to open their doors and customers venture out of their homes. Activities could have …

Oil prices declined on Friday, keeping a downward trend that has so far lasted for seven straight sessions, with the rise of the U.S. Dollar (USD) and fears about the spread of the Coronavirus Delta variant and a possible negative impact on demand recovery. Despite the USD edging lower on …