Commodities

The US Energy Information Administration said in a monthly report, Tuesday, that US oil production from the seven major shale formations is expected to decline by about 90 thousand barrels per day in February to about 7.52 million barrels per day. The data showed that production in nearly every rocky …

Oil prices exceeded $56 a barrel today, Wednesday, with the support of expectations that the new US administration will adopt huge stimulus spending to boost demand, as well as restrictions imposed by OPEC on production and expectations of lower US crude stocks. On Tuesday, US Treasury Secretary Candidate Janet Yellen …

Gold prices rose today, Wednesday, as the dollar retreated after Janet Yellen, a candidate for the position of US Treasury Secretary, stressed the need for a major stimulus to help the economy recover from the Coronavirus crisis, which boosted the demand for the yellow metal as a hedge. On Tuesday, …

Natural gas prices fell sharply on Tuesday, seeing their biggest decline since the beginning of the year, and closing at their lowest level year-to-date. This comes amid an expected decline in the demand for heat fuel compared with the usual levels in previous winters. Natural gas futures for February delivery …

The International Energy Agency (IEA) cuts its expectations for the global demand for crude oil during 2021 by 280,000 barrels per day (b/d) to 5.5 million b/d, according to the monthly report released on Tuesday. A decline of 600,000 b/d is expected during the first quarter (Q1) of the year, …

Oil prices rose on Tuesday, amid the decline of the U.S. Dollar (USD), despite the International Energy Agency (IEA) cutting its expectations for the global demand for crude oil in 2021. Hopes for increased government stimulus by the new administration that is about to take over in the United States …

Gold prices rose on Tuesday, recovering some its recent losses, as the U.S. Dollar (USD) turned to the negative territory ahead of the inauguration of the President-elect of the United States, Joe Biden. The decline of the USD and the rise of the yellow metal are attributed to the expected …

Gold prices rose today, Tuesday, to rise from the one-and-a-half-month low they reached in the previous session, as the US dollar retreated, while the yellow metal, which is considered a safe haven, received support from the prospects of injecting more stimulus into the global economy. Spot gold rose 0.1% to …

Oil prices retreated further from the 11-month high that they touched last week, ending a rally that began at the end of October due to production cuts and strong Chinese demand, in light of questions about market direction amid the growing number of coronavirus cases. Brent crude was down 30 …

Gold prices rose on Monday, January 18th, after hitting the lowest level in a month and a half earlier in the session, supported by the chances of approving a huge US relief package from the repercussions of the Coronavirus, which overshadowed the rise of the dollar and strengthened the metal’s …