Commodities

Oil prices closed lower on Thursday after OPEC maintained expectations for demand growth this year. Brent crude futures for October delivery lost 13 cents, or 0.18%, to close at $71.31 per barrel, snapping a two-day rising streak, while the West Texas Intermediate (WTI) futures decreased by 16 cents, or 0.23%, …

Gold prices closed lower on Thursday, as the U.S. Dollar (USD) edged higher after data showed another decline in jobless claims and an increase in producer prices. Gold front-month futures declined by $1.40, or 0.08%, to finish at $1,749.00 per ounce, snapping a two-session rising streak.

In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it left the 2021 and 2022 world oil demand growth forecasts unchanged despite concerns over Delta variant weighing on energy demand. OPEC currently expects the global demand to rise by 6.6%, or 5.95 …

Oil prices fell after two days of gains after the United States, the world’s largest oil consumer, urged major producers to increase production, bolstering supply concerns as economies ease restrictions imposed to combat the Coronavirus. Brent crude futures fell 17 cents, or 0.2 percent, to $71.27 a barrel in Asian …

Gold prices rose, as concerns about an early cut in economic support eased after data revealed that consumer price inflation in the United States cooled in July, sending the dollar lower. And gold rose in immediate transactions 0.1% to $ 1753.90 an ounce in Asian trading, after recording its largest …

Oil prices closed higher on Wednesday, rebounding from early losses that followed news about pressuring OPEC to raise production and the release of the weekly inventory data in the United States. The U.S. is asking the Organization of the Petroleum Exporting Countries (OPEC) to increase production, claiming that the global …

Gold prices rose on Wednesday with the decline of the U.S. Dollar (USD) after data showed that inflation in the United States registered 5.4% in July. The yellow metal managed to close higher for the second consecutive day, registering its highest gains since July 29. Gold front-month futures gained $21.60, …

Oil prices declined on Wednesday after data showed a decline in U.S. crude inventories last week. Earlier, the U.S. Energy Information Administration (EIA) reported that crude inventories in the United States fell by 400,000 barrels last week. Meanwhile, gasoline stockpiles declined by 1.4 million barrels and distillate inventories increased by …

Oil fell below $70 a barrel, pressured by a CNBC report that the White House will call on OPEC and its allies to boost production in an effort to stem rising gasoline prices. And the price of Brent crude is up 35% since the beginning of this year, supported by …

Oil rose towards $71, as signs of increased fuel demand in the United States offset concerns about travel restrictions in Asia due to the spread of the Delta strain. Sector data showed a decline in US crude and gasoline stocks last week, while the US Energy Information Administration said that …