Commodities

Natural gas inventories in the United States increased by 98 billion cubic feet (bcf) last week, according to estimates by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 2.313 trillion cubic feet, decreasing by 386 bcf compared with the same …

Crude oil inventories in the United States dropped more than expected last week, according to the latest official data released on Thursday. Inventories plunged by 5.08 million barrels, more than double the decrease of 2.4 million barrels that was expected by market analysts, the Energy Information Administration (EIA) report for …

Oil prices finished higher on Wednesday at their best level in about two years, as the results of the most recent OPEC+ summit projected stability and positive expectations for demand recovery during the second half of the year. Brent crude futures for August delivery gained $1.1, or 1.6%, to close …

Gold prices rose on Wednesday, restoring its best closing level in about five months, as U.S. Treasury bond yields declined and the U.S. Dollar (USD) erased most of its daily gains. Despite markets seeing optimism regarding economic recovery, the yellow metal continues to maintain a mostly upward trend especially with …

Oil prices rose after OPEC and its allies agreed to commit to a cautious return to oil supplies to the market in June and July, with expectations of a strong recovery in demand in the United States and China, the world’s largest oil consumers. US West Texas Intermediate crude rose …

Gold prices retreated on Wednesday from their highest level in nearly five months recorded in the previous session, as the dollar and US Treasury yields rose on the back of strong manufacturing data. And gold fell in spot transactions 0.2% to $ 1896 an ounce during the session, after hitting …

Oil futures registered gains on Tuesday, with markets positively reacting to the Organization of the Petroleum Exporting Countries’ (OPEC) and its OPEC+ allies deciding to commit to the current easing cycle of output cuts that was agreed in response to the Coronavirus crisis. Brent crude futures for August delivery gained …

Gold prices registered small losses on Tuesday, maintaining the $1,900 level, as the U.S. Dollar (USD) declined across the board. The yellow metal futures for August delivery closed lower by 30 cents, or 0.02%, at $1,905 per ounce. A rise in U.S. Treasury bond yields impacted gold’s trading today, following …

Oil prices rose on Tuesday, June 1, to record Brent $71 and its highest level since March, thanks to expectations of growth in fuel demand in the summer travel season in the United States. Prices were also boosted by Chinese data showing factory activity grew at its fastest pace this …

Three OPEC sources told Reuters that OPEC+ is likely to stick to the current pace of gradual easing of oil supply restrictions at Tuesday’s meeting, as producers weigh their expectations of a demand recovery against a possible increase in Iran’s supply. The Organization of the Petroleum Exporting Countries (OPEC) and …