Commodities

Oil prices declined on Friday, finishing the week on a mixed note with growing concerns about the spread of the coronavirus Delta variant and the subsequent effect on the recovery of demand for energy. Brent crude futures for October delivery lost 72 cents, or 1%, to finish at $70.59 per …

Gold prices rose on Friday after the dollar declined as the U.S. consumer sentiment dropped to its lowest level in a decade. Accordingly, the yellow metal turned higher for the week as demand for safe havens improved. The U.S. Dollar Index (DXY) which measures the greenback against a basket of …

The number of active rigs drilling for crude oil in the United States rose by 10 to 397 this week, data by Baker Hughes showed on Friday. This marked the largest increase for U.S. oil rigs since the beginning of April. The total rig count rose by nine to reach …

Gold prices rose on Friday, August 13, supported by concerns about an increase in infections with the Coronavirus, but the strength of the dollar kept the yellow metal on the path of recording the second consecutive weekly decline. Spot gold rose 0.2% to $1,756.61 an ounce. And gold is down …

Oil prices closed lower on Thursday after OPEC maintained expectations for demand growth this year. Brent crude futures for October delivery lost 13 cents, or 0.18%, to close at $71.31 per barrel, snapping a two-day rising streak, while the West Texas Intermediate (WTI) futures decreased by 16 cents, or 0.23%, …

Gold prices closed lower on Thursday, as the U.S. Dollar (USD) edged higher after data showed another decline in jobless claims and an increase in producer prices. Gold front-month futures declined by $1.40, or 0.08%, to finish at $1,749.00 per ounce, snapping a two-session rising streak.

In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it left the 2021 and 2022 world oil demand growth forecasts unchanged despite concerns over Delta variant weighing on energy demand. OPEC currently expects the global demand to rise by 6.6%, or 5.95 …

Oil prices fell after two days of gains after the United States, the world’s largest oil consumer, urged major producers to increase production, bolstering supply concerns as economies ease restrictions imposed to combat the Coronavirus. Brent crude futures fell 17 cents, or 0.2 percent, to $71.27 a barrel in Asian …

Gold prices rose, as concerns about an early cut in economic support eased after data revealed that consumer price inflation in the United States cooled in July, sending the dollar lower. And gold rose in immediate transactions 0.1% to $ 1753.90 an ounce in Asian trading, after recording its largest …

Oil prices closed higher on Wednesday, rebounding from early losses that followed news about pressuring OPEC to raise production and the release of the weekly inventory data in the United States. The U.S. is asking the Organization of the Petroleum Exporting Countries (OPEC) to increase production, claiming that the global …