Commodities

Oil prices finished lower on Thursday, maintaining a downward trend for the second consecutive session, amid uncertainty about production levels. Yesterday, media reports suggested that the OPEC+ alliance has reached an initial agreement to extend the current output cuts until 2022, with a gradual easing in the curbs in line …

Gold prices finished lower on Thursday after recent remarks by the Federal Reserve Chair Jerome Powell eased concerns about the rising inflation a sudden change in monetary policy. The yellow metal’s decline comes a day after finishing at its highest level in about a month. Gold futures for August delivery …

Gold prices extended gains to hit a month high on Thursday, July 15th, after US Federal Reserve Chairman Jerome Powell calmed concerns about an early easing of monetary support, sending the dollar and US Treasury yields down. Spot gold was up 0.3% at $1,831.70 an ounce, after hitting its highest …

Oil prices closed lower on Wednesday after news reports pointed to expectations of an agreement between major producers about output policy in the coming months. Sources reportedly told Bloomberg that the OPEC+ alliance is planning another meeting soon to close the deal, while other media reports said that an agreement …

Gold prices rose on Wednesday to finish at their best level in about a month, supported the decline of the U.S. Dollar (USD) and Treasury bond yields after the Federal Reserve Chairman Jerome Powell assured Congress that the high inflation will eventually ease. This means that the Fed will be …

The U.S. Energy Information Administration (EIA) on Wednesday reported another decline in crude oil inventories for the eighth consecutive week. Crude oil inventories decreased by 7.9 million barrels for the week ended July 9. The eighth consecutive weekly fall in oil supplies, despite being expected, has exceeded most market expectations. …

Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar Gold touches a high of 1825 as we mentioned in our morning report after it got the bullish momentum at 1797 taking advantage of falling USD. The yellow metal rose after …

Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar, while the focus is now on US Federal Reserve Chairman Jerome Powell’s speech to Congress later today after the strong rise in consumer prices. And gold rose in the spot market …

Crude oil inventories in the United States are expected to further drop, with official data due on Wednesday by the U.S. Department of Energy’s Energy Information Administration (EIA). Last week, data showed that U.S. oil stockpiles declined for the seventh consecutive week by 6.866 million barrels. A drop that exceeded …

Oil prices rose on Tuesday, despite concerns about the coronavirus Delta variant and uncertainty about the OPEC+ output policy, mainly amid expectations of another drop in crude inventories in the United States. Brent crude for September delivery rose by $1.33, or 1.77%, to settle at $76.49 per barrel, registering its …