Commodities

Oil prices showed a mixed performance on Tuesday, as the market is anticipating the decision of the OPEC+ alliance regarding output policy next month. Brent continued to rise, reaching its highest level in 13 months, while the U.S. benchmark most active contracts gave up earlier gains and closed lower with …

Gold prices declined on Tuesday, returning to the downward trend amid a rise in Treasury yields, and after remarks by the United States Federal Reserve Chairman Jerome Powell to Congress. The yellow metal was able to finish the session with recovery from some of its earlier losses, as Powell played …

Oil prices jumped by more than a dollar on Tuesday (February 23rd), as they received support from optimism about the distribution of anti-Covid-19 vaccines and a decrease in production as US supplies slowly return after freezing weather in Texas stopped crude production last week. Sources said that shale oil producers …

Gold rose to the peak of the week of Tuesday, February 23rd, supported by the weak dollar and declining US Treasury yields, while the appeal of the yellow metal was boosted by fears of further rising inflation. Spot gold rose 0.2% to $1812.06 an ounce, after hitting its highest level …

Oil prices rose on Monday, reaching their highest level in about a year, with anticipation for the return of crude production and refining capacities in Texas, the United States, following the recent winter storms. Production recovery is reportedly expected to take a time longer than previously estimated. Brent crude futures …

Gold prices rose on Monday, opening the week with a positive performance and restoring the $1,800 key price level, amid expectations for a rise in inflation. In addition, the decline by the U.S. Dollar (USD) helped gold returns to gains, scoring its biggest daily rise since early January. The yellow …

Oil prices increased due to the slow resumption of US crude production after it was reduced by freezing weather conditions while demand recovered from its low levels during the Corona pandemic. Brent crude rose 55 cents, or 0.9%, to $63.46 a barrel, after increasing nearly 1% last week. U.S. crude …

US media reported that US authorities said that about 8.8 million Texas residents were still facing water supply problems after an unprecedented frost wave damaged power plants last week. The authorities still advise millions of Texas residents to boil water before using it, although all power stations returned to work …

Gold prices rose, after reaching its lowest level in more than seven months in the previous session, as support from the dollar’s weakness overshadowed the pressure caused by the rise in Treasury yields. Spot gold rose 0.5% to 1,791.50 dollars an ounce, after touching its lowest level since the second …

The Kingdom of Saudi Arabia and Russia have all divided overviews on production strategy ahead of the upcoming OPEC+ meeting. Saudi Arabia sees a preference for keeping production steady, but Russia wants to increase supplies, Bloomberg reported. OPEC+, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) …