Commodities

Oil prices rose on Wednesday to their highest in 13 months after US government data showed that crude production fell due to freezing weather last week. The US production of crude oil fell by more than ten percent last week, equivalent to one million barrels per day, in the midst …

Oil prices rose on Wednesday to their highest level in 13 months, despite data showing an increase in crude inventories in the United States last week. However, the U.S. Energy Information Administration (EIA) reported showed that distillate stockpiles registered a large decline. In addition, output disruptions in Texas, due to …

Gold prices declined on Wednesday for the second consecutive session, losing the important $1,800 support level. The decline in the yellow metal prices came amid a continuous rise in the U.S. Treasury bond yields that reached their highest level in about a year. Gold futures for April delivery declined by …

Crude oil inventories in the United States rose by 1.3 million barrels last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Meanwhile, gasoline stockpiles remained nearly virtually unchanged, while distillate inventories declined by 5 million barrels in the week ending February 19. However, oil prices continued …

Data from the American Petroleum Institute showed, Tuesday, that oil inventories in the United States increased unexpectedly last week as refiners cut back activity due to a wave of severe cold that hit the US Gulf Coast region. Crude inventories increased by one million barrels in the week ending February …

Oil prices fell on Wednesday, February 24, after data for the sector showed a sudden increase in US crude inventories last week, as freezing weather in southern states limited the demand for refineries that were forced to close. The American Petroleum Institute said on Tuesday that crude inventories increased 1 …

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 …