Commodities

Oil prices rose on, extending their monthly gains in the first month of the year, on the back of hopes for a recovery in the global demand for crude and amid some global supply disruptions. Brent crude futures for March delivery gained 35 cents, or 0.6%, to close at $55.88 …

Gold prices rose on Friday, limiting their monthly losses during January, amid a fluctuating performance by the U.S. Dollar (USD) and concerns about the rollout of Coronavirus vaccines. This marked the first gains for the yellow metal most active contracts in seven sessions, after six consecutive declines. Gold futures for …

The number of active oil and natural gas rigs increased this week for the tenth consecutive week, according to the weekly report by Baker Hughes. This marked the biggest number of increases in a row for the rig count since June 2018. In addition, January marked the sixth consecutive monthly …

The US oil giant Chevron turned to incur losses in the fourth quarter of $ 11 million, as lower fuel margins, the costs of acquisitions and the effects of foreign currency overshadowed the improvement in the results of exploration activities. It is expected that oil companies will benefit from the …

A Reuters survey concluded that OPEC oil production increased for a seventh month in January after the organization and its allies agreed to further ease record restrictions on supplies, but an involuntary drop in Nigeria’s exports limited the increase. The survey revealed that the 13 member states of the Organization …

WTI settled unchanged this week, with futures settling above $52 a barrel, but below an 11-month high that touched it earlier in the month, as worries about fuel demand overshadowed lower global supplies. Earlier in January, OPEC+ announced production cuts through the first quarter of 2021, Saudi Arabia engaged in …

Gold prices are trading in a narrow range today, Friday, but prices are on the path of recording a weekly and monthly decline as the high dollar dispels the lustre of the yellow metal. Spot gold rose 0.2 $ to 1844.86 dollars an ounce. Prices fell 0.5% in the week …

Oil prices stabilized, to remain in the ranges recorded over the past three weeks, at a time when investors looked for indications of a change in the fundamental factors of supply and demand. A Saudi cut in oil supplies and a decline in crude stocks in the United States contributes …

Oil prices declined on Thursday due to rising concerns about the resurgence of the Coronavirus pandemic in many countries around the world. The rise in new cases of the novel virus are leading to worries about the recovery of the global market demand. A surprise bigger than expected decline in …

Gold prices closed lower on Thursday, declining for the sixth consecutive session, recording its longest downward trend since early March 2019. The yellow metal futures rose earlier today on the back of the U.S. Dollar (USD) decline, before falling as U.S. Treasury yields rose. The decline also comes amid an …