Commodities

Oil prices rose during morning trading today, Thursday, extending the week’s gains to more than 11% on mounting hopes that oil producers will be Reversing Oversupply due to increasing Coronavirus cases. West Texas futures rose about 12 cents, recording $ 41.57 a barrel. While Brent futures rose by 9 cents, …

Oil prices rose slightly on Wednesday, to maintain their rising trend, since positive news about the success of a Coronavirus vaccine emerged. In addition, a decline in US crude inventories supported crude prices. Brent crude futures for January delivery rose by 19 cents, or 0.4%, to close at $43.80 per …

Gold prices declined on Wednesday, returning to losses after a brief recovery on Tuesday, as demand for the yellow metal decreased since news about the COVID-19 vaccine success emerged. In addition, a rise by the US Dollar (USD) across the board, led to the precious metal price decline. Gold futures …

The Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve, according to the United States Energy Information Administration (EIA). Reduced economic activity related to the COVID-19 pandemic has caused changes in energy demand and supply patterns in 2020 and will continue …

Oil rose to $45 a barrel during Europen session for the first time in 10 weeks. Where the apparent decline in US crude inventories reinforced the rise in oil prices, which was mainly supported by Pfizer’s vaccine. The American Petroleum Institute (API) reported that crude inventories fell 5.15 million barrels …

Gold rose on Wednesday, November 11th, thanks to a weak dollar as investors study the logistical challenges surrounding the massive production of a potential Covid-19 vaccine in light of the increase in new virus infections, which strengthens the bet on greater economic support. And gold rose in the spot market …

Oil prices jumped about 3% today, Tuesday, after hopes that a vaccine for Covid-19 looms on the horizon on concern about a drop in fuel demand due to new measures for public isolation to contain the Coronavirus Brent crude ended the world record for the nearest trading session maturity, up …

Oil prices rose on Tuesday, for the second session in a row, supported by improved sentiment on the success of Coronavirus vaccine trials. Brent crude futures for January delivery increased by $1.21, or 2.9%, to close at $43.61 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for December …

Gold prices rose on Tuesday, recovering some of its losses yesterday, which were the biggest in a single day in about seven years. Dropping gold prices in the first session of the week came amid high hopes for the success of the Coronavirus vaccine being developed by Pfizer and BioNTech. …

Vitol CEO Russell Hardy said oil prices will be heading towards a range of $ 45- $ 49 a barrel or even $ 50 in the next few months, with inventory drawdown modest during the winter and this accelerating through mid-2021. The benchmark Brent crude was trading at around $ …