Oil Prices Are Rising Oil futures rose on Tuesday, supported by signs that China may relax COVID-19 restrictions following protests that sent crude prices tumbling the previous session. Early on Monday, oil prices dropped sharply. They briefly wiped out their gains from 2022, as protests in China over the country’s stringent COVID-19 restrictions sparked worries …
Oil Has Dropped Below $2 per Barrel Oil futures fell more than $2 a barrel on Monday. WTI hit an 11-month low as demand picked up as protests against tough COVID-19 regulations hit top importer China. Brent crude fell $2.16, or 2.6%, to $81.47 per barrel at 0230 GMT after falling to $81.161 earlier in …
The G-7 May Impose a Price Cap on Russian Oil The Group of Seven is negotiating a cap on Russian oil prices between $65 and $70 per barrel, but analysts claim that even if it is approved, it won’t impact Moscow’s oil revenues much. Prices at those levels are comparable to what Asian markets currently …
Oil Prices Have Dropped Oil prices fell to their lowest level in two months on Thursday as questions arose over how much the G7 would limit the offer for Russian oil prices. Higher-than-expected fuel inventories in the US and tighter coronavirus controls in China weighed on oil prices. Brent crude futures fell 52 cents, or …
Tuesday saw a rise in oil prices as top exporter Saudi Arabia indicated OPEC+ was continuing to output curbs and might take more measures to balance the market, outweighing concerns about a global recession and the rising number of COVID-19 cases in China. Prince Abdulaziz bin Salman, the energy minister for Saudi Arabia, was cited …
According to Europe’s top energy exchanges, they said that a planned restriction on natural gas prices poses a severe danger to the region’s supply security and financial stability and would do little to decrease energy costs. The Association of European Energy Exchanges stated in a joint letter that the European Commission’s intention to propose a …
Gold prices increased marginally on Friday. However, they should have concluded the week down as hawkish remarks from Federal Reserve officials raised the dollar’s chances of more interest rate increases and hurt copper due to worries about the growing COVID-19 cases in China. After rocketing to a close to a three-month high earlier this week, …
What Is Happening in The Market of Gold and Metals? Read More »
The price of oil continued to fall on Thursday as anxieties about global unrest subsided and concerns about demand in China, the world’s largest petroleum importer, increased because of an increase in COVID-19 cases. Fears of the conflict between Russia and Ukraine spilling over the border were eased when Poland and NATO indicated that the …
Ease of Geopolitical Tensions Drags Oil Prices Down Read More »
Oil prices rose on Wednesday, paring earlier losses after an incident involving a merchant ship near Oman. However, increasing cases of COVID-19 in China are hindering progress. By 0854 GMT, WTI oil futures in the United States were up 35 cents, or 0.4%, to $87.27 per barrel. Meanwhile, Brent crude futures added 65 cents, or …
Tuesday saw a decline in oil prices as growing COVID-19 cases in China increased worries about decreased gasoline use from the top crude importer in the world. After finishing 3% down on Monday, Brent oil futures dropped 78 cents, or 0.84%, to $92.36 a barrel at 1225 GMT. U.S. West Texas Intermediate crude dropped by …
Commodity costs have soared to a staggering start to the month, with their largest back-to-back weekly increases since 1960. Twenty-seven commodities, ranging from metals to energy to agriculture, have recorded spectacular double-digit single-day gains this quarter, outperforming every asset class. Commodities are commonly experiencing 10% or more in back-to-back gains virtually every week, which we …
A stronger U.S. dollar and rising coronavirus cases in China dampened expectations for a quick reopening of the economy in the largest crude importer in the world, respectively. Oil prices dipped on Monday. After rising 1.1% on Friday, Brent oil futures were down 91 cents, or 1%, at $95.08 a barrel at 1301 GMT. WTI …
Oil prices increased on Friday as softer-than-expected U.S. inflation data raised expectations of more gradual Federal Reserve interest rate increases. Still, worries about slowing economic growth and a rise in COVID in China kept oil trade negative for the week. U.S. CPI inflation slowed more than forecast in October. This indicated that the Fed’s swift …
On Friday, oil prices increased by more than 2%. Meantime, China, the world’s largest crude importer, relaxed some of its strict COVID restrictions. By 07:45 GMT, Brent oil futures had risen $2.39, or 2.6%, to $96.06 per barrel. It continued a prior session increase of 1.1%. After rising by 0.8% the previous session, U.S. WTI …
The End of COVID Restrictions in Sight, The Oil Surges 2% Read More »
Gold prices continue to rise as investors flock to the safe-haven metal in response to elevated recession fears, especially in the times of the U.S. midterm elections. Gold prices are rising as investors take advantage of the positive sentiment in the market, with a price pushing back above $1,700 an ounce, which is indeed the …
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