Commodities

In its latest monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth for 2021 unchanged at 5.95 million barrels per day, according to Reuters. While OPEC lowered its forecast for global oil demand in the second quarter of 2021 by 300 …

Oil prices declined today as fears of a long-term disruption to the Colonial Pipeline system of energy pipelines, the largest in the United States, diminished, while some US Gulf Coast refiners reduced production. US West Texas Intermediate crude futures fell 61 cents, equivalent to 0.94%, to $64.31 a barrel, after …

Oil prices finished Monday’s trading marginally higher, on the back of concerns about a cyberattack on the Colonial Pipeline in the United States. Brent crude futures for July delivery rose by 4 cents to settle at the level of $68.32 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

Gold prices rose on Monday for the fourth consecutive session, supported by the decline of the U.S. Dollar (USD) and fears about a potential rise in inflation rates, which led to higher demand for safe havens. The yellow metal futures for June delivery gained $6.30, or 0.3%, to finish at …

Crude prices rose on Monday after a major cyberattack that shut down important fuel supply pipelines in the United States and underscored the fragility of its oil infrastructure. Prior to the opening of European markets, Brent crude rose 57 cents, equivalent to 0.8%, to $68.85 a barrel, after rising 1.5% …

Gold prices rose on Monday, approaching a three-month high they reached last week, after weaker-than-expected job data in the United States supported hopes that interest rates would remain low for some time, which boosted appetite for the metal. By the close of the Tokyo Stock Exchange, spot gold rose 0.2% …

Oil prices rose on Friday, on the back of positive expectations about demand recovery, despite the weaker than expected April jobs report in the United States. The surging number of new cases of the coronavirus (COVID-19) in India, a major importer of crude oil, are being balanced by easing travel …

Gold prices rose on Friday, reaching their highest closing level in nearly three months, amid increased demand for safe-haven assets following the release of a relatively disappointing jobs report in the United States. In addition, the U.S. Dollar’s (USD) decline provided more support to the yellow metal. Gold futures for …

The number of active rigs drilling for crude oil and natural gas in the United States increase for the second consecutive week, according to data by Baker Hughes released on Friday. The total rig count rose by eight to 448 during the week ended May 7, reaching its highest level …

Oil prices recovered after a 1% drop in the previous session, with the support of positive economic data from China and the United States, but the outbreak of the Covid-19 pandemic in India put pressure on prices. Brent crude futures for July delivery were at $68.40 a barrel, up 31 …