Commodities

Commercial crude oil inventories in the United States decreased by 1 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA). The decline comes below market expectations. Inventories now stand at a level of 475.7 million barrels, which is about 4% above the five-year …

Oil prices increased, after reaching their highest levels in nearly a year in the previous session, supported by an unexpected drop in crude and gasoline inventories in the United States, which fueled hopes for a recovery in demand at a time when OPEC+ expects the market to record a deficit …

Oil prices scored high gains on Tuesday, supported by the commitment of major producers to output curbs. Members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, an alliance known as OPEC+ agreed last month on extending the output cuts during February, with Saudi Arabia vowing …

Gold prices decline on Tuesday, as the U.S. Dollar (USD) rose across the board against major currencies. The yellow metal futures for April delivery lost $30.50, or 1.6%, to close at the level of $1,833.40 per ounce. Meanwhile, silver futures lost all of their Monday gains, which helped it rise …

Oil prices rose by about 1%, after major crude producers showed that they were curbing supplies in nearly line with their commitments, to continue gains in a market confused by weak demand during the Coronavirus pandemic. Brent crude rose 48 cents, equivalent to 0.9%, to $ 56.83 a barrel, gaining …

Silver futures rose on Monday and closed at a level not seen since 2013, on the back of strong demand that is attributed to retail traders on the social media platform Reddit. Reddit users through WallStreetBets were able to recently lead huge demand for stocks such as GameStop and AMC …

Oil prices rose on Monday supported by the commitment of the members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, known as OPEC+. Last month, OPEC+ agreed on extending the output curbs in February, with Saudi Arabia vowing to unilaterally cut production to help restore …

Gold prices rose on Monday, amid improved demand despite the U.S. Dollar (USD) showing rebound signs and rising across the board against major currencies. The yellow metal futures for April delivery gained $13.6, or 0.7%, and settled at the level of $1,863.90 per ounce. Meanwhile, silver futures for March delivery …

Silver rose for the third session in a row on Monday, February 1, rising as much as 7.4% near a six-month peak after posts on social media last week called for retail investors to flood the market. Spot silver reached its highest level since August 11 at $ 29.7 an …

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 …