Commodities

Oil prices declined on Monday, finishing the first session of the week at its lowest level in about three weeks. A surge in new COVID-19 cases is raising concerns about demand and economic recovery, especially in the United States and Europe. Brent crude futures for December delivery lost $1.31, or …

Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases. The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board. Gold futures for December delivery closed marginally …

Oil fell more than 2% on Monday, extending last week’s losses in light of the growing cases of Covid-19 disease in the United States and Europe, which raises concerns about the demand for crude, especially in light of the chances of increases in supply. Brent crude was down $ 1.25, …

Gold fell below the psychologically critical $ 1900 level on Monday to record the lowest price in more than a week, on US Dollar strenth and the lack of progress in talks on a new US stimulus package. Gold spot fell 0.2%to $ 1897.35 an ounce by 0711 GMT, after …

Oil prices declined on Friday, on expectations of increased crude output from Libya and uncertainty about the impact from the second wave of the Coronavirus pandemic. Brent crude futures for December delivery closed lower by 69 cents, or 1.6%, at $41.77 per barrel. Meanwhile, the US West Texas Intermediate (WTI) …

Gold prices rose on Friday as the US Dollar (USD) declined across the board, however, the yellow metal recorded its second consecutive weekly losses. Gold futures for December delivery added 60 cents, or 0.03%, and settled at $1,905.20 per ounce. The precious metal most active futures recorded a weekly decline …

The number of active oil rigs in the United States increased by six to a total of 211 during the week, according to the weekly rig count report by Baker Hughes. This is the fifth consecutive rise in active drilling rigs in the US. Meanwhile, the total number of oil …

Oil prices declined on Friday but held onto most of the gains they made in the previous session after Russian President Vladimir Putin indicated that he was ready to extend record cuts to supplies at a time when Covid-19 cases rose in the United States and Europe. Brent crude fell …

Gold stabilized on Friday, as expectations of an eventual US stimulus package were offset by the pressures imposed by the strong dollar. There was no significant change in gold in immediate trading at 1903.36 dollars an ounce before the opening of European markets, after it had fallen more than one …

Oil prices rose on Thursday on renewed hopes for another stimulus package in the United States, where a decline in jobless claims also helped improve the outlook for demand. Additionally, remarks that indicated that the OPEC+ alliance may prolong output cuts provided support for crude prices, as Brent crude futures …