Commodities

Oil continues the series of gains in recent days, which pushed it to its highest level since March, and the sector is looking forward to an OPEC+ meeting at the end of November to discuss increasing production by two million barrels from January.

Oil prices continued to rise on Wednesday, reaching their highest level in about nine months. Brent crude futures for January delivery increased by 75 cents, or 1.6%, to finish at $48.61 per barrel. The West Texas Intermediate (WTI) crude futures for January delivery gained 80 cents, or 1.8%, to close …

After consecutive declines this week, gold prices rose on Wednesday, but remain far from their level prior to the recent correction wave. Gold futures for December delivery gained 90 cents, or less than 0.1%, to close at $1,805.50 per ounce. Meanwhile, silver futures for December delivery added 6.2 cents, or …

Crude oil inventories in the United States declined last week, against market expectations, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. A decline of 800,000 barrels in the week that ended on November 20 means that crude stockpiles now stand at 488.7 million barrels. Meanwhile, gasoline inventories …

Russia and Saudi Arabia continued to lead suppliers of crude oil to China in October, but the quantities received from the two countries decreased compared to September levels as Chinese refineries curbed purchases of crude. According to data from the General Administration of Customs of China today, Wednesday, imports from …

Gold fell on Wednesday, November 25, with the start of the official transition process for Joe Biden to the White House and optimism about vaccines for the Coronavirus, which reduces the appeal of gold as a safe haven. Gold spot fell 0.1% to 1805 dollars an ounce by 06:48 GMT. …

Oil rose for the fourth session in a row on Wednesday, November 25, as the market ignored a report by the sector that showed that US crude stocks rose more than expected, continuing this rise supported by hopes that a vaccine for Covid-19 would support oil demand. By 0616 GMT, …

Oil prices continued to rally on Tuesday, achieving big gains to finish near its highest level since early March. Brent crude futures for January delivery surged by $1.80, or 3.9%, to close at $47.86 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery soared by $1.85, …

Gold prices continued to make big losses on Tuesday, for the second consecutive session, amid improved risk appetite and aversion from safe havens, on the back of positive news about Coronavirus vaccines. In addition, an expected smooth transition in the US administration from the incumbent president to the president-elect helped …

Brent crude prices reached their highest levels since March, as news of a promising third Coronavirus vaccine supported hopes for a faster recovery in oil demand, while US President-elect Joe Biden received the green light to start the transition process for his leadership. By 07:44 GMT, Brent crude futures increased …