Commodities

Active crude oil and natural gas rigs in the United States rose this week, for the eleventh time in 12 weeks. Oil and gas rig count increased by three to 323 in the week that ended on December 4, according to the Baker Hughes weekly report. Oil rigs alone increased …

Gold prices declined on Friday, despite the decline of the US Dollar (USD), amid improved investors’ sentiment on Coronavirus vaccine progress. Gold futures for February delivery decreased by $1.10, or 0.1%, and closed at $1,840 per ounce. For the week, the yellow metal contracts gained 2.9%. On the other hand, …

Gold prices stabilized today, Friday, and is heading towards achieving its first weekly gain in 4 weeks, as the dollar retreated due to growing hopes for an American stimulus, and before the release NFP due at a later time. Today. The gold spot was little changed at $1840.75 an ounce, …

Data on Friday showed that German industrial goods orders increased more than expected on a monthly basis in October, raising hopes that the manufacturing sector in Europe’s largest economy started the fourth quarter of the year with a strong performance. Data published by the Federal Statistics Office show that orders …

Oil prices rose on Thursday, despite media reports about an agreement within the OPEC+ alliance to raise production starting from January. OPEC+ is set to hold monthly meetings starting January to assess market conditions and decide on further production adjustments for the following month. Brent crude futures for February delivery …

Gold prices rose on Thursday, supported by the decline of the US Dollar (USD) on mixed economic data. Gold futures for February delivery added around $11, or 0.6%, to close at $1,841.10 per ounce. The rise of the yellow metal comes following a recent strong correction wave and monthly losses …

The OPEC+ alliance have on Thursday reportedly agreed to a small rise in crude oil output starting next January by 500,000 barrels per day, Reuters reported. However, major producers are yet to agree on the broader output policy for the rest of 2021. Producers hope that economic recovery from the …

Data by the United States Energy Information Administration (EIA) showed on Thursday that natural gas inventories declined by 1 billion cubic feet for the week ended November 27. The decline is way below that expected by market experts. Natural gas inventories amounted to a total of 3.939 trillion cubic feet, …

Oil prices rose Thursday, December 3, after a dispute erupted between two producers, including Saudi Arabia and Russia, over the need to extend the deadline for record production cuts that began during the first wave of the Covid-19 pandemic. Brent crude rose 21 cents, or 0.4%, to $48.46 a barrel …

Gold rose Thursday, December 3, to its highest level in more than a week, as the dollar fell to its lowest level in several years due to hopes of soon distributing a vaccine for the Coronavirus, while investors continued to follow the developments of the stimulus agreement in the United …