Commodities

Oil prices surged on Wednesday, maintaining a rising trend for the second consecutive session, following a huge drop at the beginning of the week, despite data showing another increase in crude inventories in the U.S., with markets witnessing a broader improvement in risk appetite among investors. Brent crude futures for …

Gold prices resumed losses on Wednesday, falling for the third time in four sessions, despite a mixed performance by the U.S. Dollar (USD) with lower demand for safe havens as stock markets surged to recover from earlier declines. The yellow metal’s front-month futures Gold for July delivery lost $8.00, or …

Crude oil inventories in the United States continued to increase for the ninth consecutive week, adding 2.1 million barrels in the week ending July 16, according to official figures released on Wednesday. The U.S. Energy Information Administration (EIA) reported a decline in gasoline stockpiles by 100,000 barrels, while distillate inventories …

Oil prices reversed upwardly and continued achieving gains for the second session in light of the growing risk appetite, despite data showing a sudden increase in US crude stocks last week and a decrease in demand expectations due to the growing infection cases with the Covid-19 virus. Brent crude futures …

Gold prices fell, heading for losses for the second session in a row, as the dollar’s gains and the recovery of US Treasury bond yields weighed on the metal’s safe-haven attractiveness amid fears of the rapidly spreading Delta variant of the Coronavirus. The spot price of gold fell 0.2 percent …

Oil prices fell after a sector report showed an unexpected increase in US crude stocks last week, stoking fears that a new surge in Covid-19 infections could reduce demand for fuel. Brent crude futures fell 36 cents, or 0.5 percent, to $ 68.98 a barrel at 0628 GMT, giving up …

Oil prices saw a modest increase on Friday but to failed to recovery its large weekly losses, the biggest in about two months, which are mostly due to uncertainty about a new production policy agreement by the OPEC+ alliance, despite recent reports suggesting extending the current deal until the end …

Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation. Gold futures front-month contracts for July …

The number of active oil and natural gas rigs in the United States increased for the third consecutive week, for the first time since May, despite the recent drop in crude prices, data by Baker Hughes showed on Friday. The total rig count rose by five to 484 in the …

Oil prices rose on Friday but were still heading for their biggest weekly decline since at least May, as expectations of increased supplies spooked investors. Brent crude rose 37 cents, or 0.5%, to $73.84 a barrel, and is set to lose 2.3% this week, the biggest weekly decline since May. …