Commodities

Oil prices rose today due to a tropical storm in the Gulf of Mexico, which forced companies to evacuate platforms and halt production. Still, the gains were limited by concerns about a glut in global supplies and a decrease in demand for fuel. By 06:29 GMT, US West Texas Intermediate …

Oil prices declined on Friday, logging their second consecutive weekly decline amid a mostly negative outlook for global demand. Brent crude futures for November delivery closed lower by 23 cents, or 0.6%, at $39.83 per barrel losing 6.6% for the week. Meanwhile, the West Texas Intermediate (WTI) futures for October …

Gold prices declined on Friday, limiting its weekly gains, amid recent fluctuations by the US Dollar (USD). Gold futures for December delivery closed lower by $16.40, or 0.8%, at $1,947.90 per ounce, adding 0.7% for the week. Meanwhile, silver December futures decreased by 43 cents, or 1.6%, and finished at …

Data by Baker Hughes showed on Friday that active oil rigs in the United States declined by one rig to a total of 180 last week. Meanwhile, total active oil and gas drilling rigs decreased by two rigs to 254.

Gold prices declined as the US dollar rebounded, but the precious metal is on its way to achieving a weekly gain, supported by fears about the global economy recovering from a decline caused by the Corona virus. Before the Tokyo Stock Exchange closed, gold in spot transactions fell 0.8% to …

Oil prices fell for a second day, as a sudden increase in US crude stocks negatively affected the sentiment, which is already suffering in light of the erosion of fuel demand with the continuing Corona pandemic. Brent crude fell 15 cents, or 0.4%, to $ 39.91 a barrel ahead of …

Oil prices finished lower on Thursday after data showed a rise in US crude inventories, amid concerns about the outlook for global demand recovery. Brent crude futures for November delivery declined by 73 cents, or 1.8%, and closed at $40.06 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

Gold prices rose on Thursday for the third consecutive session as the US Dollar (USD) continued to decline amid the appreciation of the Euro after the European Central Bank maintained interest rates unchanged. Gold futures for December delivery increased by $9.40, or 0.5%, and settled at $1,964.30 per ounce. Meanwhile, …

Crude oil inventories in the United States rose last week by 2 million barrels, as shown by the US Energy Information Administration (EIA) weekly report on Thursday. The increase in oil stockpiles, which came against market expectations of a 1.3 million barrel decline, ended six consecutive weeks of inventories decline.

Natural gas inventories in the United States increased by 70 billion bcf last week, according to the US Energy Information Administration (EIA) Natural Gas Storage report. The rise in natural gas stockpiles comes compared with market expectations of a 68 billion bcf increase, after a 35 billion bcf increase in …