Commodities

Global crude oil markets lost about a fifth of their value in 2020, as strict lockdown measures to combat the Coronavirus have crippled most of the global economy, but prices have rebounded strongly from their low levels as governments provide a stimulus. On Thursday, the last trading day in 2020, …

Gold prices, on Thursday, December 31, seem to be heading to achieve the best annual performance since 2010, even at a time when the yellow metal is under pressure due to the weak prospects of providing greater financial aid in order to stimulate the US economy and the recovery of …

Gasoline prices in the United States hit a nine-month high, as drivers take to the roads in the holiday season, crude oil prices continue to rise and refiners continue to reduce fuel production due to weak profit margins. According to the American Automobile Federation, gasoline prices at gas stations exceeded …

Oil prices rose on Wednesday, supported by a larger-than-expected drop in crude stocks in the United States and Britain’s approval of a second anti-Corona virus vaccine, but it is under pressure from dwindling hopes for a strong recovery in demand. Brent crude futures, the global benchmark, ended the trading session …

Gold prices finished Wednesday higher, supported by the decline of the US Dollar (USD) across the board. The yellow metal futures for February delivery closed higher by 0.6% at $1,893.40 per ounce. The DXY is down by 0.37% at 89.66.

The Coronavirus pandemic has severely impacted the global oil industry, with crude prices hitting lows not seen in decades amid a decline in demand for energy in 2020. After starting the year with oil prices at $70 per barrel, supported by the recovery that was helped by the OPEC+ alliance …

Crude oil inventories in the United States declined by 6.1 million barrels last week, according to the weekly report by the U.S. Energy Information Administration (EIA).

Gold prices settled on Wednesday, December 30, as Britain approved an anti-Covid-19 vaccine, invented by the University of Oxford in cooperation with AstraZeneca, which boosted risk appetite, while the dollar’s decline limited precious metal losses during weak holiday transactions. There was little change in spot gold trading, at $ 1878.52 …

Oil rose on Wednesday, December 30, as prices received a boost from a fiscal stimulus package to mitigate the repercussions of the Coronavirus in the United States and lower crude oil inventories. Brent crude futures rose 35 cents, or 0.7%, to $ 51.44 a barrel by 08:03 GMT, and US …

Data from the American Petroleum Institute showed, Tuesday, that crude oil inventories in the United States fell more than expected last week, while gasoline and distillate stocks recorded a decrease, contrary to expectations. The data indicated that crude inventories fell by 4.8 million barrels in the week ending on the …