Oil prices rose today, and Brent is heading towards the level of seventy dollars a barrel, as data show the acceleration of the Chinese economic recovery at the beginning of 2021, which supports the energy demand of the largest importer of oil in the world. Brent crude for May delivery …
Read More »Gold Gives up Gains Amid Hopes of a Quick Recovery After Chinese Data
Gold prices erased their early gains today, as hopes for a faster economic recovery were supported by better-than-expected Chinese industrial production data, and pressure continued on the metal due to high US bond yields. There was little change in the price of gold in the spot market at $1724.68 an …
Read More »Oil Records Weekly Losses
Oil prices declined on Friday, amid increasing selling pressures for profit making, amid the rise of the U.S. Dollar (USD) and Treasury bond yields. Brent crude futures declined by 44 cents, or 0.63%, to $69.19 per barrel, falling by 0.25% for the week. Meanwhile, the West Texas Intermediate (WTI) …
Read More »Gold Posts First Losses in Four Days Limiting Weekly Rise
Gold prices declined on Friday, after rising for three consecutive sessions, as the U.S. Dollar (USD) Treasury bond yields rose again. The yellow metal futures for April delivery finished lower by $2.80, or 0.2%, at $1,719.80 per ounce. For the week, gold’s most active contracts rose by nearly 1.3%. The …
Read More »Brent Crude is Falling But Remains Near $70 Supported by Optimistic Demand
Brent crude prices declined today, but hovered near $70 a barrel, as cuts made by major crude producers restrict supplies, while the market is also supported by optimism about the recovery in demand in the second half of the year. Brent crude futures for May delivery fell 33 cents, or …
Read More »Gold Declining But Heading For The Best Week in 7 Weeks
Gold prices plummeted today as high US revenues and the strength of the dollar imposed pressure on the yellow metal, but it is heading to record its best weekly performance in seven weeks. In spot transactions, gold lost 0.3% to $1716.86 an ounce in Asian trading. The metal fell to …
Read More »Oil Prices Rise on Improved Demand Outlook
Oil prices rose for the second consecutive session, registering large gains on the back of a weaker U.S. Dollar (USD) and expectations of global demand recovery during the second half of the year. In addition, large draws in U.S. fuel inventories have eased fears of an oversupply, especially with the …
Read More »Gold Maintains Gains for Third Day in Row
Gold prices continued to rise on Thursday for the third consecutive session, supported by the decline of the U.S. Dollar (USD) and Treasury bond yields. The yellow metal registered limited gains today, as recent inflation data eased reflation concerns and improved risk sentiment among investors. Gold futures for April delivery …
Read More »OPEC Expects Demand Recovery in H2 of 2021
The Organization of the Petroleum Exporting Countries (OPEC) expects the recovery of the global demand for crude oil to be focused on the second half (H2) of 2021. OPEC’s monthly report, released on Thursday, expects global demand will rise by 5.89 million barrels per day (b/d) in 2021, raising its …
Read More »U.S. Natural Gas Inventories Down 52 bcf
Natural gas inventories in the United States decreased by 52 billion cubic feet (bcf) last week, according to the weekly report released on Thursday by the U.S. Energy Information Administration (EIA). Working natural gas in storage reached 1,793 bcf as of Friday, March 5, the report showed. Gas stockpiles were …
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