Soybean prices rose to end the trading week on increasing foreign demand and worries about South American weather and domestic inventories. If market estimates are correct, soybean could affect the commodities growth in 2021. January soybean futures ended the Friday trading session up $0.2075, or 1.73%, to $12.22 per bushel on the Chicago Board of …
Soybean Rises To Six-Year-High On Foreign Demand Read More »
Natural gas prices also disappointed to capitalize on a major snowstorm – nor’easter – directing the northeast part of the US that could spillover south. It had been considered that natural gas would keep the momentum with these improvements. However, investors may have taken advantage of the larger prices and sold the gains. January natural …
Natural Gas Prices Drop Despite Bigger Supply Drawdown Read More »
Oil prices hit a nine-month high on Thursday in energy commodities. This came after government data showed a fall in U.S. crude stockpiles last week. Progress towards a U.S. fiscal stimulus deal and strong Asian demand also supported prices. At 0436 GMT, Brent crude futures rose 45 cents, or 0.9%, to $51.53 a barrel. U.S. …
Oil Hit a 9-month High after U.S. Crude Stock Draw Read More »
Gold rose on Wednesday morning in Asia’s precious metals. Investors were monitoring progress on U.S. stimulus measures and the Federal Reserve’s policy decision. Also sparking hopes for a quick economic recovery is the rapid progress in COVID-19 vaccine rollouts. By 12:04 PM ET (4:04 AM GMT), gold futures were up 0.29% at $1,860.65. On Tuesday, …
Gold Up, Investors Bracing for Fed’s Policy Decision Read More »
Oil prices were up on Monday, pushing Brent back above $50 a barrel. It was supported by hopes that a rollout of COVID-19 vaccines will lift global fuel demand. At the same time, a tanker explosion in Saudi Arabia jangled nerves in the market. By 0730 GMT, Brent crude futures for February rose 67 cents, …
Oil Prices Up on Vaccine and Tanker Blast in Saudi Arabia Read More »
Gold was up on Friday morning in Asia’s precious metals over disappointing jobs data from the U.S. and stimulus uncertainty. In addition, Brexit talks concern remains. By 12:47 AM ET (4:47 AM GMT), gold futures were up 0.23% at $1,841.70. The dollar was down on Friday. Usually, it moves inversely to the yellow metal. Markets …
Oil prices were up on Thursday, buoyed by a COVID-19 vaccine rollout in Britain. Additionally, the imminent approval of a vaccine in the United States could spur a rebound in fuel demand. This is despite a large build in U.S. crude stocks last week. At 0500 GMT US. West Texas Intermediate (WTI) crude futures gained …
Oil Up on Vaccine Rollout, Worries of Iraq Oilfield Attack Read More »
Gold (XAU/USD) slipped through the Asian session. It plunged to two-day lows near the $1855 zone. However, the downside movement lacked strong momentum. The yellow metal saw some selling in the first half of the trading action in Asia. It appears to have stalled its recent strong recovery move away from the multi-month lows. The …
Gold (XAU/USD) Seems Depressed But Downside Is Limited Read More »
Oil prices declined on Tuesday, adding to losses from the previous session. California tightened its pandemic lockdown through Christmas. COVID-19 cases continued to surge across the United States and Europe. Brent crude futures slipped 40 cents, or 0.8%, to $48.39 a barrel at 0455 GMT. U.S. West Texas Intermediate (WTI) crude futures was down 35 …
Oil Slips over Soaring Coronavirus Cases & Lockdowns Read More »
Oil prices fell on Monday as COVID-19 vaccines and OPEC+ deal on oil production cuts were undermined by surging virus cases. They were also further weakened by heightened tensions between the United States and China. By 0911 GMT, Brent crude was down 76 cents, or 1.5%, to $48.49 a barrel. U.S. crude fell 82 cents, …
Oil Down amid Surging Virus Cases, U.S.-China Tensions Read More »
Pfizer Inc cut the number of COVID-19 vaccine doses that it will roll out. By 11:48 PM ET (3:48 AM GMT), gold futures were up 0.26% at $1,845.80. Investors were slowly turning to the safe-haven precious metal. From 1,191.28 tons, holdings of the SPDR Gold Trust fell 0.1% to 1,189.82 tons on Thursday. On the …
Gold Rises on Cautious U.S. Stimulus Hopes, Vaccine Read More »
Global progress toward energy efficiency has slowed to its lowest rate in a decade. Prices were subdued amid the COVID-19 pandemic, the International Energy Agency said on Thursday. Energy intensity is likely to improve by only 0.8% this year. This is a result of the health crisis and continuing low energy prices. That’s roughly half …
Gold was down on Wednesday morning in Asia’s precious metals. The increasing optimism over U.S. talks for the latest stimulus measures and a COVID-19 vaccine sees a retreat from gold. By 12:25 AM ET (4:25 AM GMT), gold futures were down 0.32% at $1,813.15. It remained over the $1,800 mark. Holdings of the SPDR Gold …
Oil was down on Tuesday morning in Asia’s commodities. Investors are uncertain about the world’s major producers’ extension of output cuts, which would support oil prices. Brent oil futures fell 0.71% at $47.54 by 11:55 PM ET (3:55 AM GMT). WTI futures lost 0.79% to $44.98. The Organization of the Petroleum Exporting Countries (OPEC) and …
OPEC+ members will consider whether to extend existing oil cuts for three to four months. It will also assess a gradual increase of output from January during their two days of talks that start on Monday. The Organization of the Petroleum Exporting Countries, Russia and others, (OPEC+), held an initial round of talks on Sunday. …
OPEC+ to Discuss Extending Oil Cuts/ Slowly Raising Output Read More »
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