Commodities

Sources in OPEC+ told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are considering extending oil production cuts from March to April instead of increasing production due to the fragility of crude markets due to continuing concerns about the Coronavirus …

Oil prices rose on Wednesday, March 3, as indications of progress in the distribution of Covid-19 vaccines in the United States, the world’s largest consumer, led to a rebound in demand expectations. US West Texas Intermediate crude futures rose 15 cents, equivalent to 0.25%, to $59.90 a barrel, recovering after …

Gold prices fell on Wednesday, March 3, to fall for the sixth session in seven sessions, as the yellow metal, which does not yield a return, has been under pressure due to expectations that US Treasury revenues will rise thanks to more economic stimulus. Spot gold fell 0.3% to $1732.51 …

Oil prices fell to their lowest in two weeks on the expectation that the OPEC+ group will ease restrictions on supplies during its meeting later this week as economies begin to recover from the Coronavirus pandemic. OPEC Secretary-General Muhammad Barkindo said that the outlook for oil demand looks more positive, …

Crude oil inventories in the United States increased by about 7.4 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday. Gasoline inventories declined by 9.9 million barrels, while distillate stockpiles fell by 9.1 million barrels. Earlier today, Brent crude futures for May delivery fell …

Gold prices rose on Tuesday, after declining for five straight sessions, amid a decline in Treasury yields that also pushed the U.S. Dollar (USD) lower. The yellow metal futures for April delivery gained $10.60, or 0.6%, to close at $1,733.60 per ounce. Gold settled on Monday at its lowest level …

Gold prices fell to their lowest level in 8 and a half months Tuesday, March 2, as the rise of the dollar and US Treasury bond yields undermined investors’ appetite for the yellow metal that does not yield a return. Gold fell in the spot market 0.3% to $ 1717.99 …

Oil prices declined on Monday, as the market is anticipating the upcoming OPEC+ summit this week, which will decide on production policy during March. The meeting is expected to see the easing of output curbs amid the recovery of global crude prices. Brent crude futures for May delivery declined by …

Gold prices declined on Monday, falling for the fifth consecutive session, and beginning the month of March with a negative performance amid a retreat in Treasury yields. The yellow metal futures for April delivery finished lower by $5.80, or 0.3%, at $1,723 per ounce. This is the lowest closing level …

According to a recently conducted Reuters survey, the Organization of the Petroleum Exporting Countries’ total oil output in February declined by 870,000 barrels per day (bpd), marking the first monthly decline in eight months. “OPEC oil output fall led by Saudi Arabia; Nigeria posted the biggest increase,” Reuters reported