Natural gas inventories in the United States increased by 13 billion cubic feet for the week ending July 30, according to estimates by the U.S. Energy Information Administration (EIA) released on Thursday. Total natural gas stockpiles reached 2.727 trillion cubic feet, down by 542 billion cubic feet compared with the …
Read More »Oil Gives up Early Gains on Corona Fears
Oil prices fell on Thursday, giving up early gains, as more countries imposed restrictions on movement in light of the increase in cases of the Coronavirus and the rise in the dollar, although tension in the Middle East prevented further decline. On Thursday, Japan expanded emergency restrictions to include more …
Read More »Gold Loses Its Luster With The Rise of The Dollar After The Statements of The US Fed
Gold prices came under pressure Thursday, August 5th, after comments from the US Federal Reserve boosted the dollar, while investors are now focusing on non-farm payrolls data for indications of a labor market recovery. And gold fell in spot transactions 0.1 percent to $ 1809.91 an ounce, while US gold …
Read More »Oil Prices Register Third Consecutive Daily Loss
Oil prices extended losses on Wednesday for the third consecutive session, after data showed an increase in crude inventories in the United States against market expectations, coupled with a weaker than expected ADP jobs report. Pandemic-related concerns and fears surrounding demand recovery from the coronavirus crisis with the spread of …
Read More »Gold Closes with Modest Gains
Gold futures finished nearly unchanged on Wednesday amid a rebound by the U.S. Dollar (USD) and an improved investors’ sentiment. The yellow metal maintained modest gains, with front month futures gaining 40 cents, or 0.02%, to close at $1,810.50 per ounce. A weaker than expected ADP jobs report in the …
Read More »Oil Extends Losses After Surprise Build-Up in U.S. Inventories
Crude oil inventories in the United States increased by 3.6 million barrels last week, the Energy Information Administration (EIA) reported on Wednesday. Meanwhile, gasoline inventories declined by 5.3 million barrels in the week ended July 30, and distillate stockpiles rose by 800,000 barrels. The rise in crude supplies comes against …
Read More »China Seeks Policy Mix to Boost Economic Resilience
China has been contemplating a policy mix comprising diversified monetary tools, fiscal support to the economy within an appropriate range, per Xinhua News Agency. “The proactive fiscal policy should generate a greater effect, while the prudent monetary policy should maintain reasonably ample liquidity and support the continued recovery of small …
Read More »US Crude Falls For The Third Day in a Row
US crude prices fell for the third day in a row on Wednesday, August 4, while there was little change in Brent crude futures contracts, with growing fears that the increasing spread of the delta strain of the Coronavirus in major consuming countries would reduce demand for fuel. US West …
Read More »Gold Rises on Weak Dollar Ahead of US Jobs Data
Gold prices rose on Wednesday, August 4th, supported by the weak dollar, but the rise in precious metal prices remained in a narrow range, as investors awaited indications from the US jobs data regarding the recovery of the labor market. Spot gold rose 0.2% to $1,813.31 an ounce, while US …
Read More »U.S Gas Futures Records The Best Daily Performance in Nearly Two Weeks
US natural gas futures rose, recording their largest one-day gain in nearly two weeks, with expectations of hotter weather conditions continuing over the coming weeks, which tends to increase demand for air cooling. Gas contracts rose to the nearest maturity by 2.3% to settle at $ 4.027 per million British …
Read More »