Commodities

The Norwegian Oil and Gas Union said Thursday (October 8th) that the current shutdown in production due to the ongoing strike in the oil and gas sector will increase to 966,000 barrels of oil equivalent per day by October 14 unless a solution to the crisis is found for the …

Gold prices rose slightly Thursday, supported by the decline of the dollar and renewed optimism about some aid to mitigate the repercussions of the Corona pandemic in the United States, while investors awaited the weekly jobless claims data to gauge the strength of the world’s largest economy. Spot gold prices …

Oil prices rose Thursday as workers in the oil sector evacuated platforms in the Gulf of Mexico in the United States before Hurricane Delta, but fears of fuel demand continued due to the dissipation of the prospects of a US stimulus agreement and after an increase in US crude stocks. …

Oil prices declined on Wednesday, after official data showed a the first rise in four week in US crude inventories. This also comes after the complications facing a new economic stimulus package. Nonetheless, declines were limited due to recent output disruptions, which helped crude prices finish above session lows. Brent …

Gold prices closed lower on Wednesday, falling to its lowest level in more than a week. Gold futures for December delivery fell by $18, or 0.9%, and finished at the level of $1,890.80 per ounce, its lowest since September 28. Meanwhile, silver futures for December delivery declined by 2 cents, …

Crude oil inventories in the United States increased for the first time in a month, rising by 500,000 barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. This comes following three consecutive weekly declines of US oil stockpiles. Meanwhile, gasoline inventories decreased by 1.4 …

Data from the American Petroleum Institute showed that US inventories of crude oil rose last week, while gasoline and distillate stocks declined. Crude inventories increased by 951 thousand barrels over the week ending on October 2 to about 495.4 million barrels, while analysts’ expectations indicated an increase of 294 thousand …

Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …

Oil prices rose for the second consecutive day on Tuesday, amid output disruptions and improved risk sentiment. Brent crude futures for December delivery added $1.36, or 3.3%, and closed at the level of $42.65 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures for November delivery finished higher …

Gold futures closed lower on Tuesday, after opening the week at its highest level in about two weeks, as the US Dollar (USD) is showing some recovery signs. Gold futures for December delivery declined by $11.30, or 0.6%, and settled at $1,908.80 per ounce. Meanwhile, silver futures for December delivery …