Oil prices declined on Monday, with markets digesting the recent decision by the OPEC+ plus, following disruptions in North American due to Hurricane Ida and concerns over the pandemic. Brent Crude futures for November delivery closed down by 39 cents or 0.54% at $72.22 per barrel. This is the second …
Read More »Dubai TV Interview, Sept 06, 2021
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. the US Non-Farm Payrolls Report The US job data had a massive impact on …
Read More »Gold Rises Near a Two-And-Half Month High
Gold prices rose on Monday, hovering around a two-and-a-half-month peak after disappointing US jobs data raised hopes that the Federal Reserve may wait a little longer to scale back its stimulus measures. Gold spot transactions 0.1 percent to $ 1827.82 an ounce. In the previous session, prices rose to their …
Read More »Oil Continues to Decline After Large Cuts in Saudi Crude Oil Prices to Asia
Oil prices extended their decline on Monday after Saudi Arabia, the world’s largest exporter, cut crude prices for Asia at the weekend, indicating a good supply in global markets. Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 01:01 GMT, while US West Texas …
Read More »Why Gold Prices Surged Following Jobs Data?
Gold prices rose on Friday, after data showed disappointing progress by the U.S. labor market, with a lower than expected increase in nonfarm payrolls during August, which increased concerns over the pace of recovery from the coronavirus pandemic. The jobs report led to the decline of the Dollar Index (DXY) …
Read More »Oil Prices Close Lower but Rise for the Week
Oil prices closed lower on Friday after data showed disappointing progress by the U.S. labor market, with a lower than expected increase in nonfarm payrolls during August, which increased concerns over the pace of recovery from the coronavirus pandemic. However, crude futures managed to close higher for the week, amid …
Read More »Weak Dollar Supports Gold Ahead of US Jobs Data
Gold prices rose on Friday, supported by a weak dollar, as investors awaited US jobs data to learn about the Federal Reserve’s plans to start reducing asset purchases. Gold rose in spot transactions 0.2% to $ 1812.97 an ounce by 0641 GMT, and it fell 0.2% for the week. US …
Read More »Oil Finishes Higher amid Hurricane Ida
Oil prices rose on Thursday, with the recent decision and market forecasts by the OPEC+ sinking in and being properly digested by investors with the focus tilting towards coming economic data. In addition, Hurricane Ida are impacting crude oil and fuels supply chain in North America. Brent crude futures for …
Read More »Gold Closes Lower for Second Session in Row
Gold prices declined on Thursday, for the second consecutive session despite the U.S. Dollar (USD) and Treasury bond yields decreasing, falling for the third time this week. The yellow metal front-month futures lost $4.40 or 0.24% to finish at $1808.70 per ounce. This is the lowest closing level for gold …
Read More »U.S. Gas Inventories Down 20 BCF in Week – EIA
U.S. natural gas supplies increased by 20 billion cubic feet (bcf) last week, according to data released by the United States Energy Information Administration reported (EIA) on Thursday. Gas supplies are down by 579 bcf compared with the same time in 2020, and 222 bcf below the five-year average of …
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