Commodities

Oil prices rose on Thursday, supported by a positive investors’ sentiment regarding Coronavirus vaccines. The global benchmark, Brent crude futures rose above the $50 a barrel mark for the first time since March, adding $1.53, or 3.13%, to settle at $50.39 per barrel. Meanwhile, the US benchmark West Texas Intermediate …

Gold prices settled lower on Thursday, despite the decline of the US Dollar (USD), amid improved investors’ sentiment and anticipation for new Coronavirus vaccines and the outcomes of Brexit talks. The decline also comes following the European Central Bank’s (ECB) decision to expand its stimulus program and maintain interest rates. …

The West Texas Intermediate (WTI) crude futures rose during Thursday’s trade to their highest level in about eight months, since early March. WTI is up by 3.84% or $1.75, trading at $47.27 a barrel. A recent agreement between members of the OPEC+ alliance to raise output by much less than …

Gold fell Thursday, December 10, after heavy selling in the previous session, with the uncertainty continuing regarding the long-running fiscal stimulus negotiations in the United States. Gold fell in the spot market 0.2% to $ 1835.40 an ounce, after falling by as much as 2.5% on Wednesday. Gold futures in …

Oil prices ended Wednesday on a mixed note, following a surprise surge in crude inventories in the United States last week. Brent crude futures for February delivery added 2 cents to close $48.86 a barrel. Meanwhile, the West Texas Intermediate (WTI) futures for January delivery fell by 8 cents to …

Gold prices declined for the first time this week, after two consecutive rises, as both the US Treasury yields and the US Dollar (USD) rose on Wednesday. In addition, positive news about Coronavirus vaccines are limiting demand for safe havens. Gold futures for February delivery decreased by $36.40, or 1.9%, …

Crude oil inventories in the United States surged last week, data by the Energy Information Administration (EIA) showed on Wednesday. Oil stockpiles went up by 15.2 million barrels in the week to December 4, reaching a total of 503.2 million barrels. This is the largest rise in crude oil inventories …

Oil prices rose on Wednesday, December 9th, to reduce crude losses incurred earlier, amid positive news about Covid-19 vaccines that boosted investors’ hopes for a recovery in fuel demand, which overshadowed concern about an unexpected jump in US oil stocks last week. Brent crude rose 11 cents, equivalent to 0.2%, …

Gold prices retreated from a two-week peak on Wednesday, December 9, as encouraging developments for the Coronavirus vaccine prompted investors to buy high-risk stocks as global stocks rose to record levels. Gold fell in the spot market 0.7% to $ 1858.80 an ounce, after hitting the highest level since November …

Data by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States increased by 1.1 million barrels last week. Meanwhile, gasoline stockpiles grew by 6.4 million barrels, and distillate inventories rose by 2.3 million barrels.