Oil prices rose Thursday, March 11th, as the distribution of vaccines to prevent Covid-19 boosted expectations for economic recovery, and US fuel stocks fell sharply, but a rise in crude stocks after a storm in Texas last month limited the gains. Brent crude futures for May delivery rose 20 cents, …
Read More »Gold Reaches Its Highest Level in a Week as Yields And US Dollar Decline
Gold prices rose Thursday, March 11th, to their highest in more than a week, after weaker inflation data in the United States halted the advance of Treasury and dollar yields. And gold profit in spot transactions 0.4% to 1733.46 dollars per ounce, after reaching its highest level since the third …
Read More »Oil Settles Higher Following Fluctuations
Oil prices rose on Wednesday, after fluctuating throughout the session as data showed another large increase in crude inventories in the United States, alongside huge drops in gasoline and distillate stockpiles. Brent crude futures for May delivery finished higher by 38 cents, or 0.6%, at $67.90 per barrel. Meanwhile, the …
Read More »Gold Settles Higher After Inflation Data
Gold prices recovered from earlier losses and reached their highest level in a week on Wednesday, supported by the second consecutive session of U.S. Treasury bond yields pulling back from their recent highs, especially as recent inflation data reduced reflation fears and increased investors’ demand for long-term debt instruments. Spot …
Read More »U.S. Oil Inventories Show Another Huge Rise: EIA
Crude oil inventories in the United States increased more than expected last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Oil stockpiles rose by 13.798 million barrels in the week ended on March 5, compared with a recent S&P Global Platts poll of market analysts that …
Read More »Gold Falls as Dollar Rise
Gold fell on Wednesday, March 10, after recording its biggest jump in two months in the previous session, as US Treasury yields and the dollar rose, weakening the yellow metal’s appeal. Gold fell in the spot market 0.2% to $1712.82 an ounce after it rose more than 2% on Tuesday …
Read More »Supply Data Weighs on Oil while Output Cuts and Forecasts Provide Support
Oil prices declined on Tuesday for the second consecutive session, amid expectations for a buildup in U.S. crude supplies. A recent S&P Global Platts poll of market analysts estimated that oil inventories increased last week by 2.7 million barrels, following a huge surge of 21.6 million barrels in the week …
Read More »Gold Maintains Gains and Records First Rise in Five Sessions
Gold prices finished Tuesday’s trading session with strong gains, supported by the decline of Treasury bond yields and the U.S. Dollar (USD), recording its first gain after four consecutive declines. The rise in the yellow metal prices followed closing at its lowest level since early April 2020 on Monday. Gold …
Read More »Gold Rebounds as Treasury Yields and USD Pull Back
Gold prices declined on Tuesday, as Treasury bond yields pulled back from their year-high, which also increased selling pressure on the U.S. Dollar (USD). The yellow metal futures for April delivery rose by 2.14% 1,713.80 per ounce and reached a high of $1,718.05 earlier today. This is attributed to the …
Read More »WTI Climbs to $69 After Monday’s Correction
Crude oil prices witnessed a deeper correction at the beginning of the week, and a barrel of West Texas Intermediate crude lost 2.4% on Monday after rising more than 7% last week. WTI reversed its trend, rising 2% to $65.85. OPEC’s decision last week to keep production cuts through April …
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