Gold prices jumped about 1% to the highest level in more than a week today, Tuesday, supported by the decline in the dollar and US Treasury yields. Gold recorded in immediate transactions 1743.20 dollars per ounce at the end of the trading session, up 0.86%, after it earlier jumped to …
Read More »API: US Oil Inventories Fell Last Week But Fuel Increased
The American Petroleum Institute data showed that crude oil inventories in the United States fell last week, while fuel inventories rose. The data revealed that crude inventories fell 2.6 million barrels in the week ending April 2, while gasoline inventories increased 4.6 million barrels. Distillate stocks, which include diesel and …
Read More »U.S. Oil Inventories Down 2.6 M Barrels in Week: API
Crude oil inventories in the United States declined last week by 2.6 million barrels, according to estimated by the American Petroleum Institute (API). Meanwhile, gasoline stockpiles rose by about 4.5 million in the week ended April 1, while distillate inventories grew by roughly 2.8 million barrels.
Read More »Oil Settles 1% Higher on Positive Recovery Signs
Crude oil prices rose on Tuesday, supported by signs of economic recovery and positive expectations for the global economy this year. Recent economic data in the U.S. and China, the biggest two economic in the world, signaled a recovery from the negative impacts from the pandemic. In addition, the International …
Read More »Gold Settles at Five-Week High
Gold prices rose on Tuesday for the fourth consecutive session, supported by the decline of the U.S. Dollar (USD) and Treasury bond yields, nearing a return to the $1,750 level and closing at its best level in about five weeks. The yellow metal futures for June delivery gained $14.20, or …
Read More »Oil Recovering Thanks to Strong Economic Data and Bargain Hunting
Oil prices rose on Tuesday, April 6 as investors looked to chase bargains following a drop the previous day due to higher OPEC+ production, while prospects for recovery improved thanks to strong economic data from the United States and China. By 06:46 GMT, Brent crude futures rose 78 cents, or …
Read More »Oil Closes Sharply Lower amid Expected Rise in Market Supplies
Oil prices declined on Monday, amid expectations for an increase in market supplies, following the decision by the OPEC+ alliance to gradually ease output curbs starting next month. In addition, despite positive signs for a strong economic recovery as recent data suggests, investors are showing concerns regarding the third wave …
Read More »Gold Finishes with Marginal Gains
Gold prices showed a mixed performance on Monday, finishing the first session of the week on the positive side with marginal gains, recovering from earlier daily losses. Despite a decline in the demand for safe havens, amid an improved risk appetite among investors, supported by the recent economic data that …
Read More »Oil Dropping Below $64 Under Pressure From Increased Production From OPEC+ And Iran
Oil prices fell below $64 a barrel today, Monday, as the impact of rising supplies from OPEC+ and increasing Iranian production was overshadowed by signs of a strong economic recovery in the United States and broader expectations for a recovery in demand in 2021. The Organization of the Petroleum Exporting …
Read More »Gold Prices Fall as Bonds And Stocks Rise, Supported by US Jobs Data
Gold prices fell on Monday, April 5, as US Treasury yields rose and global stocks rose after better-than-expected jobs data in the United States fueled optimism about a rapid economic recovery. Gold was down in spot trading 0.3% to $1723.16 an ounce. US gold futures settled at $1761.20 an ounce. …
Read More »