Commodities

Oil prices rose on Friday, reaching their highest levels since 2019, supported by the extension of the OPEC+ output cuts. The Organization of the Petroleum Exporting Countries (OPEC) and its partners, forming an alliance known as OPEC+, agreed on Thursday to extend most crude oil production cuts until the end …

Gold prices declined on Friday, extending their weekly losses as the U.S. Dollar (USD) strengthened and higher Treasury yields continued to drive away demand from the yellow metal. The first week of March continues on the negative performance of last month, as February saw the worst performance for gold futures …

The number of active oil and natural gas rigs in the United States increased by a single one this week, data by Baker Hughes showed on Friday. The total rig count in the U.S. stands at 403, 390 rigs less than the same time of last year. The oil rig …

Gold fell today to its lowest level in nearly 9 months and is heading towards a decline for the third week in a row, as the dollar and bond yields rose after statements by Federal Reserve Chairman Jerome Powell, who said that the increase in returns does not disturb the …

Oil prices rose today by more than 1%, to continue the gains made in the previous session after OPEC and its allies agreed not to increase supplies in April as they await a greater recovery in demand in light of the Coronavirus pandemic. Brent crude futures for May delivery increased …

Oil prices rose on Thursday, supported by the extension of crude output cuts by OPEC+ until the end of April. Brent crude futures for May delivery rose by $2.67, or 4.2%, to close at $66.74 per barrel, recording its highest finishing level since February 25. Meanwhile, the West Texas Intermediate …

The Organization of the Petroleum Exporting Countries (OPEC) and its partners, forming an alliance known as OPEC+, agreed on Thursday to extend most crude oil production cuts until the end of next month. While Russia and Kazakhstan were allowed limited eases in output curbs, of 130,000 barrels per day (b/d) …

Gold prices declined on Thursday, as the U.S. Dollar (USD) continued to rise due to rising Treasury yields. U.S. Treasury bond yields continued to rise today, as Federal Reserve Chairman Jerome Powell suggested that the Fed is closely monitoring changes in the bond market but said that current increases are …

Natural gas inventories in the United States decreased by 98 billion cubic feet (bscf) last week, data by the U.S. Energy Information Administration (EIA) showed on Thursday. The decline in natural gas supplies came below market expectations that pointed to a drop of 137 bscf for the week ending on …

Oil prices rose for the second session in a row on Thursday, March 4, as they received support from the possibility of OPEC+ producers taking a decision against increasing production at an important meeting to be held later today, along with the decline in the US fuel stocks. Brent crude …