Saudi Arabia allowed a deliberate reduction of 1 million barrels per day in February and March to balance an improvement in output from Russia and Kazakhstan. The development will be comparatively mild — 75,000 BPD in February from both countries joined and added by 75,000 BPD in March. Market analysts are disputing, though, whether …
CRUDE OIL SOAR AFTER SAUDI ARABIA SETTLEMENT WITH RUSSIA Read More »
February West Texas Intermediate (WTI) crude oil futures rose $1.63, or 3.42%, to $49.24 per barrel at 13:44 GMT on Tuesday. US crude prices had a challenging start to 2021, slipping about 1%. Brent, the international benchmark for oil prices, is also rising in early trading. March Brent crude futures raised $1.66, or …
CRUDE OIL PRICES RISES AS OPEC+ WEIGHS OUTPUT REDUCTION Read More »
February gold futures rose $48.20, or 2.54%, to $1,943.30 per ounce, at 12:42 GMT on Monday on the New York Mercantile Exchange’s COMEX division. Gold prices are logged their most extensive yearly performance since 2010, graduating about last year. Silver, the sister commodity to gold, is also pinning on the first trading session …
The energy commodity has remained one of the top-performing assets this year, thanks to a mix of rising demand and simple drop-in production levels. But with a reduction of cooling temperatures in the US, could natural gas start 2021 in the red? February natural gas futures surged $0.056, or 2.31%, to $2.478 per …
Oil prices are coming under stress on news that Russia will be driving for a production tour at next month’s conference with the Organization of Petroleum Exporting Countries (OPEC) affiliates. With demand continuing to rise and output exacted to normalize in 2021 continuously, could crude’s drive fade? February West Texas Intermediate (WTI) crude futures fell …
This pointed to a greater risk appetite in the wider financial markets, reducing the dollar and making metal commodities more affordable for foreign investors. February gold futures climbed $13.20, or 0.7%, to $1,896.40 per ounce at 13:43 GMT on Monday on the New York Mercantile Exchange’s COMEX division. Gold prices are getting off a weekly …
Silver Soared On Inflation Woes, While Gold Retested $1,900 Read More »
Natural gas prices are also disappointed to take account of expectations for colder conditions, especially in Europe. The energy commodity has been trending in change territory since exceeding $3 last month, with many investors leaving hopes of a colder-than-normal winter. January natural gas futures dropped $0.191, or 6.87%, to $2.589 per million British thermal units …
Natural Gas Dropped By 7% Notwithstanding Supply Drawdown Read More »
Precious metals have been watching the state of the US COVID-19 fiscal stimulus and support package on the final trading day of the holiday-shortened week. As presently, it is a game of wait-and-see. February gold futures climbed 0.24%, or $4.50, to $1,882.60 per ounce at 17:38 GMT on Thursday on the New York Mercantile Exchange’s …
Energy prices also surged on news that the United Kingdom and the European Union struck a trade deal just days before the Brexit deadline. Supply disorders in Nigeria and France reestablishing its border to England between worries over a new strain of the COVID-19 added to higher crude prices. February West Texas Intermediate (WTI) crude …
Crop prices took another shot in the arm when the US government announced domestic inventories contracted amid expanding demand. How quickly could the agricultural commodity test $13? January soybean futures climbed $0.04, or 0.32%, to $12.515 per bushel at 17:52 GMT on Tuesday on the New York Mercantile Exchange. Soybean prices are on course for …
Soybeans Surpassed A Six-Year High On Strong Chinese Demand Read More »
The yellow metal had been wavering within positive and negative territory during the session as financial markets weigh the U.S. COVID-19 stimulus package, the new COVID-19 strain in the U.K., and a strengthening U.S. dollar. January gold futures fell $1.80, or 0.21%, to $1,884.70 per ounce at 16:49 GMT on Monday on the New York …
Gold Fights For Direction Within U.S. Fiscal Stimulus Read More »
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 »
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