Commodities

Natural gas inventories in the United States decreased by 98 billion cubic feet (bscf) last week, data by the U.S. Energy Information Administration (EIA) showed on Thursday. The decline in natural gas supplies came below market expectations that pointed to a drop of 137 bscf for the week ending on …

Oil prices rose for the second session in a row on Thursday, March 4, as they received support from the possibility of OPEC+ producers taking a decision against increasing production at an important meeting to be held later today, along with the decline in the US fuel stocks. Brent crude …

The Turkish lira weakened on Thursday (March 4th) and reached a level of 7.5 for the first time since January 18, under pressure from global concerns about rising US Treasury yields and concern over rising inflation in Turkey. The Turkish lira fell against the dollar to 7.5145 compared to 7.4550 …

Gold prices rose Thursday, March 4th, recovering from the lowest level in nearly nine months recorded in the last session, but the US Treasury bond yields that are rising continued to put pressure on the yellow metal, which does not yield a return. Spot gold rose 0.5% to $1719.21, after …

Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week. US gasoline stocks fell last week by the most on record, and refining production fell …

Oil prices rose on Wednesday, despite the strong surge in crude inventories in the United States, supported by expectations that OPEC+ could be extending output cuts until the end of April. Recent reports suggested that the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form an …

Gold prices declined on Wednesday, closing at their lowest level in about nine months, amid the rise of Treasury yields and the U.S. Dollar (USD). The yellow metal futures for April delivery closed lower by $17.80, or 1%, at the level of $1,715.80 per ounce. This is the lowest finishing level …

Crude oil inventories in the United States surged by 21.6 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA) issued on Wednesday. The rise in oil supplies is much higher that what the market expected, as the S&P Global Platts survey expected an …

Sources in OPEC+ told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are considering extending oil production cuts from March to April instead of increasing production due to the fragility of crude markets due to continuing concerns about the Coronavirus …

Oil prices rose on Wednesday, March 3, as indications of progress in the distribution of Covid-19 vaccines in the United States, the world’s largest consumer, led to a rebound in demand expectations. US West Texas Intermediate crude futures rose 15 cents, equivalent to 0.25%, to $59.90 a barrel, recovering after …