Oil prices rose to multi-year highs shortly after a group of the world’s most influential oil producers decided against a significant supply increase. Energy specialists now anticipate crude prices are likely to rise toward $100 per barrel. On Monday, OPEC and its non-OPEC allies, known as OPEC+, announced that they will keep to their existing …
America’s oil and gas industry is fighting tooth and nail to remove or reduce climate regulations in President Joe Biden’s $3.5 trillion Build Back Better program. The API runs sponsored ads on social media and swing Congressional districts to promote the Build Back Better proposal. According to a report issued Thursday by InfluenceMap, a think …
Big Oil is going all-in to resist climate regulations Read More »
OPEC predicts an unlikely winner in the face of an energy revolution away from hydrocarbons, predicting the cartel will significantly increase its dominance in the global oil market over the next two decades. The Organization of Petroleum Exporting Countries said in its annual report on long-term energy trends that it expects global oil demand to …
Gold prices dipped on Tuesday, pushed down by a stronger dollar. Rising U.S. Treasury yields increased as investors expected additional clues from Federal Reserve officials about the central bank’s monetary policy shift. By 0115 GMT, spot gold was down 0.1 percent to $1,748.01 per ounce, while U.S. gold futures were down 0.3 percent to $1,747.50. …
Gold prices moved up on Monday as continuing fears over the fate of debt-laden property behemoth China Evergrande and its broader implications bolstered the precious metal’s safe-haven appeal. Spot gold increased 0.5 percent to $1,757.79 per ounce by 0127 GMT. The U.S. gold futures were up 0.3 percent at $1,757.30. Asian shares got off to …
Oil prices slipped on Friday as more supply got back online in the U.S. Gulf of Mexico following two hurricanes. Still, both benchmark contracts were on course for weekly gains of higher than 3% as recovery in production is seen staggering demand. Brent crude futures dropped 35 cents, or 0.5%, over $75.32 per barrel at …
Oil drops as storm-struck supply make a slow return Read More »
Oil prices rose on Wednesday following industry data showed a more significant than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and expectations that demand will increase as vaccine roll-outs grow. But a decline in China’s crude oil throughput in August with daily refinery runs going the weakest …
Oil prices rise following the drawdown of stocks Read More »
On Tuesday, oil prices crashed to a six-week high as Hurricane Nicholas failed into a tropical storm, bringing the menace of widespread floods and power outages to Texas and Louisiana. As the International Energy Agency projected a significant demand rebound for the rest of the year. Brent crude was higher 44 cents, or 0.6%, at …
Oil rises as U.S. Gulf coast ready for new storm Read More »
Gold was falling on Friday morning in Asia. The yellow metal was placed to end the week on a down note as the dollar increased and uncertainty over the U.S Federal Reserve’s timeline to create asset tapering grows. Gold futures cut down 0.03% to $1,799.45 at 12:27 AM ET (4:27 AM GMT) and was beneath …
Gold was sinking on Friday morning in Asia. The yellow metal was placed to close the week on a sad note as the dollar climbed and uncertainty over the U.S Federal Reserve’s timeline to begin asset tapering grows. Gold futures cut falling 0.03% to $1,799.45 by 12:27 AM ET (4:27 AM GMT) and were beneath …
Oil launched amid a slow resumption of U.S. production reduced by Hurricane Ida more than a week ago. Futures in New York ended 1.4% higher on Wednesday. The Bureau of Safety and Environmental Enforcement stated that around 77% of U.S. Gulf of Mexico crude production continues shut-in nine days following Ida made landfall in southeast …
Oil rises with Ida`s influence on U.S. offshore supply Read More »
It was an unfortunate night for commodities in general overnight. Base metals declined, with aluminum giving back significant of its Guinea gains. With New Yorkers worried regarding US growth to start the week, pointing to haven US Dollar strength, oil prices also weakened. Brent crude reduced by 0.80% to $71.50, and WTI declined by 0.70% …
Gold was falling on Monday morning in Asia but continued under a two-and-a-half-month high. A limited U.S. jobs report indicated that the U.S. Federal Reserve could pause its asset tapering timeline, supporting the yellow metal. Gold futures fell 0.30% over $1,828.25 at 12:15 AM ET (4:15 AM GMT) following running $1,833.80, its highest level after …
Gold drops but reverts to a near three-month high Read More »
Oil prices were mixed on Friday following a substantial increase in the previous session on a lower dollar and a drop in U.S. crude stocks. They were established for modest weekly profits ahead of a highly expected U.S. monthly jobs report. Brent crude futures were higher 13 cents, or 0.2%, to $73.16 per barrel at …
Gold was up in Asia on Friday morning, eking out modest gains as the dollar fell. Investors are now waiting for the latest U.S. jobs data to see how the Federal Reserve will go with asset purchases and interest rate hikes. Gold futures rose 0.08 percent to $1,812.95 at 1:13 a.m. ET (5:13 a.m. GMT) …
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