Commodities

Gold prices rose on Wednesday, June 23, after US Federal Reserve Chairman Jerome Powell pledged to keep interest rates near zero for some time, bringing the dollar to near its lowest level in a week. Spot gold rose 0.2% to $1,782.46 an ounce, and gold futures in the United States …

Oil topped $75 a barrel on Wednesday, hitting its highest since late 2018 after an industry report on crude inventories in the United States bolstered views of tight supplies in the market as travel grew in Europe and North America. Two market sources told Reuters that the American Petroleum Institute …

A survey showed that business activities in the eurozone grew at the fastest pace in 15 years this month, as the easing of public isolation measures and the release of demand led to a boom in the services sector that dominates the bloc. The preliminary reading of the IHS Markit …

Crude oil inventories in the United States fell by 7.2 million barrels last week, according to estimates by the American Petroleum Institute (API). Meanwhile, the stockpiles of gasoline and distillates rose by 959,000 and 992,000 barrels, respectively. Crude stocks at the storage hub in Cushing, Oklahoma, decreased by about 2.6 …

Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …

Gold prices declined on Tuesday for the sixth time in eight sessions, as the U.S. Dollar (USD) rose against major currencies. Gold futures for August delivery finished lower by $5.50, or 0.31%, at $1,776.30 per ounce. The yellow metal’s most active contract has extended its losses month-to-date to 6.63%. Gold …

Two sources with Reuters knowledge of the OPEC + group talks today, Tuesday, said that the group is considering another gradual increase in oil production from August as oil prices rise thanks to the recovery in demand, but it has not yet made a decision on the exact size. The …

Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained optimistic about a quick recovery in global oil demand and as concerns eased about an early return of Iranian crude. Brent crude futures for August delivery rose 29 …

Gold rose today as the bullish trend of the US dollar stalled, which increased the attractiveness of the yellow metal ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress. Spot gold rose 0.3% to $1,787.80 an ounce), after rising 1% in the previous session. And the yellow metal rose …

Oil prices surged on Monday, amid expectations that sanctions on Iran will continue following the recent presidential election. In addition, expectation for demand recovery in the second half of the year continue to provide support to crude prices. Brent crude futures for August delivery gained $1.39, or 1.89%, and closed …