Gold held losses as oil gained slightly in commodities on Thursday. Tight races in key battleground states in the United States election left investors groping for certainty concerning the U.S. presidency. In precious metals, copper and gold responded to the roller coaster movement of the dollar. The bullion was swinging between a gain of about …
Gold Slides while Oil Recovers as US Vote Count Continues Read More »
Gold fell on Wednesday morning in Asia’s precious metals. Investors were pushing into the dollar over U.S. election outcome concerns. By 12:08 AM ET (4:08 AM GMT), gold futures were down by 0.59% at $1,899.10. Uncertainty over the U.S. election results is drawing investors to the dollar. Investors looking to a second Trump term are …
Gold Down, Greenback Up on U.S. Election Outcomes Read More »
Oil prices held steady in energy commodities on Tuesday, ahead of the U.S. presidential election. It is retaining their steep overnight gains, however capped by concerns about demand and rising supplies. In the previous session, hopes that major producers would hold back from ramping up output helped lift prices. Currently, the market faces surging COVID-19 …
Gold rebounded in precious metals on October 30 but it closed the last week of the month in losses. It ended below the crucial $1900 level. The yellow metal showed some signs of recovery as the week came to a close. The US dollar pulled back amid its repositioning into the monthly closing, ahead of …
Gold Downtrends as Markets Support the Safe-harbour Dollar Read More »
Chevron Corporation posted a surprise Q3 profit on Friday. Oil prices recovered from spring lows and spending cuts contributed to operating results. Chevron, along with its peers have slashed spending budgets in 2020 on plummeting demand. Moreover, on crude oil prices that remain about 40% below where they began the year. Royal Dutch Shell Plc …
Chevron Posts Profit on Deep Cost Cuts, Better Oil Prices Read More »
Oil prices declined on Thursday, extending a 5% slump in the previous energy commodities session. Renewed restrictions to curb a second wave of COVID-19 infections and signs of an increasing oil supply glut send prices tumbling. By 0743 GMT, U.S. West Texas Intermediate crude futures fell 8 cents, or 0.21%, to $37.31 a barrel. Brent …
Oil Extends Losses on Renewed Lockdowns, Oversupply Worries Read More »
Oil retreated in energy commodities, falling below $39 a barrel. An industry report denoted a bigger-than-expected increase in U.S. crude stockpiles. Supply disruptions were offset from Tropical Storm Zeta. In commodity news last week, the American Petroleum Institute reported crude inventories expanded by 4.58 million barrels. Gasoline stockpiles rose for a second straight week. Moreover, …
Oil prices rose on Tuesday after recent sharp losses in energy commodities. Market sentiment remains muted with coronavirus cases surging globally hurting the outlook for crude demand while supply is rising. By 0751 GMT Brent crude (LCOc1) was up 33 cents, or 0.8%, at $40.79 a barrel. Moreover, U.S. oil (CLc1) gained 28 cents, or …
Oil Up, but Outlook Dim over Rise in Virus Cases and Supply Read More »
Oil prices dropped on Monday in energy commodities extending last week’s losses. Increasing COVID-19 cases in the United States and Europe raised worries about energy demand. Libya’s fast growing production also weighed on prices. By 0934 GMT, Brent (LCOc1) was down $1.08, or 2.6% at $40.69. U.S. West Texas Intermediate (WTI) fell $1.05, or 2.6% …
Gold was up on Friday morning in Asia’s precious metals despite a stronger dollar. The U.S. presidential candidates President Trump and Democratic candidate Biden made their cases in the final debate. Investors continued to track progress on the latest stimulus measures. By 12:14 AM ET (4:14 AM GMT), gold futures climbed 0.20% at $1,908.35. The …
Gold Up, Strengthening Dollar, Presidential Debate Read More »
Microsoft (MSFT) announced on Thursday its plans to buy alternative jet fuel for some Alaska Airlines flights. This is the company’s latest effort to reduce carbon emissions. This time, it’s those generated by its frequent business travel. The coronavirus pandemic has hurt air travel demand, particularly for lucrative business trips. But even the maker of …
Following the crude inventory build-up reported in the United States, oil and petroleum prices see bearish tides this Wednesday. Investors are acting cautiously as they fear the global supply glut that could be worsened soon. See, the number of coronavirus cases around the world continues to rise. Experts believe that the globe is facing another …
Oil and Petroleum Prices Slip After US Oil Inventory Report Read More »
Oil prices were steady on Tuesday in energy commodities. It stabilized after three days of declines over concerns that a resurgence of coronavirus is stifling a recovery in fuel demand. Growing output from Libya adds to plentiful supply. By 0635 GMT, Brent crude (LCOc1) futures were trading down 4 cents, or 0.1%, at $42.58 a …
Oil Prices Steady but Rising Virus Cases, Oil Supply Weigh Read More »
Oil prices fell on Monday in energy commodities after the release of China’s Q3 economic growth data. It highlighted concerns that surging COVID-19 cases globally are impacting demand in the world’s largest oil importer. The world’s second-largest economy expanded by 4.9% in Q3 from a year earlier. It has missed analyst expectations of 5.2%, as …
Gold was down on Friday in precious metals. The number of coronavirus cases surged in Europe and the U.S. Moreover, the ongoing stalemate in the U.S. Congress over a COVID-19 package continues. At $1,908.30 by 12:36 AM ET (4:36 AM) GMT, gold futures fell 0.03% at $1,908.30. It gave up its earlier gains. However, a …
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