Oil prices rose on Monday, opening the week with a strong performance amid expectations for recovery from the coronavirus pandemic. Recent media reports suggested that the Indian Prime Minister, Narendra Modi, is going forward with a new construction project named the Central Vista Redevelopment Project, which includes establishing new buildings …
Read More »Gold Settles Near Four-Month Highs
Gold prices rose on Monday to reach a new level that is their highest in about four months, amid a decline in global stock markets and a subsequent increase in the demand for safe haven assets. In addition, a decline in the U.S. Dollar (USD) amid mixed expectations about interest …
Read More »Oil in a Limited Range And COVID-19 Restrictions in Asia Affecting Sentiment
Oil prices moved within a limited range today, Monday, after concerns about supplies subsided to support the recovery of a major US pipeline network, but the imposition of new restrictions in Asia amid the escalation of Covid-19 cases affected sentiment. The gasoline shortage plaguing the east coast of the United …
Read More »Oil Recovers Recent Losses as U.S. Pipeline Reopens
Oil prices finished higher on Friday, managing to register their third consecutive weekly rise. A recent downstream disruption in the United States that resulted from an attack on the Colonial Pipeline, which led to fears about a drop in the demand for crude oil by refineries, appears to be at …
Read More »Gold Rises on Dollar Woes and Records Second Weekly Rise
Gold prices rose on Friday, as the U.S. Dollar (USD) declined, further increasing their second consecutive weekly gains. The yellow metal futures managed to finish the week at their best level in about three months. It is worth noting that a recent surge in Treasury bond yields, due to fears …
Read More »U.S. Rig Count Rises This Week – Baker Hughes
The number of active rigs drilling for crude oil and natural gas in the United States rose by five to 453 this week, according to data by Baker Hughes on Friday. The weekly report indicated that the oil rig count increased by eight to 352 this week, as natural gas …
Read More »Crude Oil Futures Rose During The European Session
Crude oil futures rose during the European session on Friday. According to the New York Mercantile Exchange, crude oil futures were traded in June at $64.44 a barrel at the time of writing, up by 0.97%. It previously traded at a session high $64.75 a barrel. Crude oil may find …
Read More »Gold Futures Rose During The European Session
Gold futures rose during the European session on Friday. According to the COMEX, New York Mercantile Exchange, gold futures traded in June at $1834.05 an ounce at the time of writing, up 0.55%. It previously traded at a session high of $1837.50 an ounce. Gold may find support points at …
Read More »Oil Prices Rise But India’s Coronavirus Infections limit Gains
Oil prices advanced on Friday, May 14, erasing some of the sharp losses incurred in the previous session, as stock markets rose, but the gains were limited by the situation of the Coronavirus in India, the big consumer of crude and the resumption of pipeline work in the United States. …
Read More »Gold Rises as The Dollar’s Fall Overshadows Interest Rate Concerns
Gold prices increased Friday, May 14, on the back of the dollar’s decline, but the gains were limited after data showed a rise in inflation in the United States, which fueled fears of a faster rate hike than expected. The spot price of gold rose 0.2% to $1829.61 an ounce. …
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