Commodities

Oil prices declined on Thursday after recent data showed a surprise buildup in the US crude oil inventories, as well as natural gas supplies, prompting worries about the demand recovery as the number of COVID-19 cases increase. The US benchmark, West Texas Intermediate (WTI), crude futures for September delivery declined …

Gold prices continued the upward performance on Thursday and settled higher on the back of increased demand for safe havens. The yellow metal gains were also supported by a weak performance by the US Dollar across the board. After trading as high as $1,897.7 per ounce, gold futures for August …

The United States domestic supplies of natural gas increased by 37 billion cubic feet (bcf) last week, according to data released by the Energy Information Administration (EIA). The increase exceeded analysts’ expectations of a 33 billion cubic feet (bcf) increase.

Oil prices rose on Thursday, but an unexpected increase in US crude stocks and the continued increase in new cases of Covid-19 discouraged the recovery in demand for fuel and limit gains. US crude oil inventories and distillates rose unexpectedly while fuel demand fell last week, the US Energy Information …

Citing official data, Reuters reported that oil exports from Saudi Arabia, the OPEC’s top producer, fell by 44,277 million riyals (USD12 billion) or 65.0% in May 2020. In the face of the falling oil exports and its revenue, Saudi’s Finance Minister Mohammad Aljadaan said at a video forum hosted by …

Oil prices settled slightly lower on Wednesday after data showed a surprise buildup in US crude inventories, coupled with concerns regarding the increased number of COVID-19 cases. US benchmark crude, the West Texas Intermediate (WTI), futures for September settled lower by 0.05% at $41.90 per barrel, recovering most of its …

Gold prices surged on Wednesday, for the fourth session in a row, supported by increased demand for safe havens amidst rising tensions between the United States and China. The yellow metal August futures settled higher by $21.2, or 1.2%, at $1,865.10 per ounce. Similarly, silver prices rallied by 7.4% to …

Crude oil inventories in the United States increased by 4.9 million barrels during the week ending July 17, according to data by the US Energy Information Administration (EIA) on Wednesday. A decline between 575,000 and 1.9 million barrels was expected by market experts and surveys. On Tuesday, data by the …

Oil prices rose on Tuesday, with a larger-than-expected increase in US, and the increase in cases of Covid19 may lead to an increase in fuel demand in the largest oil consumer in the world. Brent crude futures for September delivery are currently trading at $ 44.29 a barrel, down by …

Gold prices rose on Tuesday and settled near its highest level in nearly nine years, after the European Union (EU) approved in its latest summit a new recovery fund. In addition, the US Congress is expected to pass a new trillion dollar stimulus package. Despite an improvement in risk appetite …