Commodities

Oil prices plunged as fears about Chinese cities being subjected to general isolation measures due to the outbreak of the Coronavirus curbed a rally driven by strong import data from the world’s largest crude consumer and US plans for a stimulus package. Brent fell 46 cents, or 0.8%, to $ …

Oil prices returned to gains on Thursday, finishing higher on the back of the rollout of Coronavirus vaccines and positive sentiment towards the expected increase in government stimulus spending in the United States as planned by the new administration. Brent crude futures for March delivery gained 36 cents, or 0.6%, to …

Gold prices declined on Thursday as the Treasury yields in the United States continued to rise and with the U.S. Dollar (USD) showing some rebound signs. The yellow metal futures for February delivery closed lower by $3.50, or 0.2%, at $1,851.40 per ounce. Meanwhile, silver futures for March delivery gained 23 …

The Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth in 2021 unchanged at 5.9 million barrels per day in its latest monthly report, per Reuters. “US shale supply outlook is now slightly more optimistic with rising oil prices, the output is seen recovering …

Oil prices rose Thursday, January 14th, after US crude stocks fell for the fifth week in a row and strong data from China showed a rise in imports, but the increase in global coronavirus infections curbed the gains. Brent crude futures gained 13 cents, or 0.2%, to $56.19 a barrel, …

Gold prices fell Thursday, January 14th, as US Treasury yields and the dollar rebounded, while investors awaited details about the next US President Joe Biden’s proposal to stimulate the economy. In spot transactions, gold fell 0.1% to $ 1842.51 an ounce, while US gold futures fell 0.8% to $ 1839.80. …

Oil prices closed Wednesday lower after a mixed performance, ending a rising trend that lasted for six consecutive sessions. The decline in crude prices came amid the rebound of the U.S. Dollar (USD) and a less than expected draw in American crude inventories coupled with a rise in gasoline and …

Gold prices rose on Wednesday, after data showed an increase in the inflation rate in the United States and amid anticipation for what could be the second impeachment of President Donald Trump by the House of Representatives. Gold futures for February delivery gained $10.70, or 0.6%, and closed at $1,854.90 …

Crude oil inventories in the United States decreased by 3.2 million barrels last week, according to the U.S. Energy Information Administration’s (EIA) weekly report released on Wednesday.

Gold rose today, Wednesday, as the dollar and US Treasury yields declined, while the prospect of a massive financial stimulus in the United States boosted the appetite for the yellow metal as a hedge against inflation. Spot gold rose 0.1% to $1,857 an ounce, while US gold futures gained 0.8% …