Commodities

Gold prices declined for the second consecutive day but were able to maintain the $1,800 level, near its highest in nearly nine years. The yellow metal futures for August delivery decreased marginally by $1.90 and settled at $1,801.90 per ounce. Gold prices increased by 0.7% for the week. This is …

The number of active US oil rigs decreased by four to 181 this week, according to data by Baker Hughes. It worth mentioning that the number of rigs drilling for crude oil in the US did not a single increased since mid-March.

The worst effects of the coronavirus pandemic on global oil demand may have passed, according to a report by the International Energy Agency (IEA) on Friday, the Wall Street Journal reported. However, the crisis will continue to leave its toll as markets slowly recover during the second half (H2) of …

Crude oil prices declined on Thursday with the market seeing increased concerns regarding the recovery of global demand for oil, amid record surged in the number of COVID-19 cases in the United States. The US benchmark crude, West Texas Intermediate (WTI), futures closed down by 3.1% or $1.28 at $39.62 …

Gold prices settled lower on Thursday, as the US Dollar strengthened and was supported by strong economic data. Gold futures for August delivery decreased by about 1% or $16.80 and closed at $1,803.80 per ounce, maintaining the $1,800-level. On Wednesday, the precious metal futures closed at their highest level since …

The Canadian Dollar (CAD) could not take advantage of positive economic data on Thursday and fell against major currencies, amid a decline in oil prices and as many investors are seemingly leaning towards safe havens. The CAD is down by 0.50% against the British Pound (GBP), with the GBP/CAD pair …

The United States supplies of natural gas increased by 56 billion cubic feet (bcf) last week, according to data by the US Energy Information Administration (EIA) on Thursday. Total natural gas inventories currently stand at 3.133 tcf, up by 685 bcf from a year ago.

Oil prices kept its movement within a limited range since the beginning of the week but closed higher on Wednesday. The global benchmark Brent crude futures rose by 21 cents and settled at $43.29 per barrel. Meanwhile, the US benchmark West Texas Intermediate (WTI) futures closed higher by 28 cents …

Gold prices maintained an upward trend for the fourth consecutive session on Wednesday, closing at a new record high for the second day in a row. The yellow metal has been soaring above the $1,800-mark since Tuesday. Gold futures for August delivery settled higher by $10.70, or 0.6%, at $1,820.60 …

Crude oil inventories in the United States increased by 5.7 million barrels last week, data by the US Energy Information Administration (EIA) showed on Wednesday. This comes after a decrease of 7.2 million barrels in the previous week, and against expectations of another decline. WTI futures are currently trading at …