Crude oil slipped amid the climbing death toll from the coronavirus in China. It dropped 0.71 percent to Rs 3,779, while gold grew 0.5 percent and silver 0.9 percent on MCX. Oil futures observed mixed trading on Wednesday, with US prices down after government data disclosed that domestic crude inventories posted a higher-than-expected weekly climb, …
Gold climbed higher on Wednesday, rose 0,2% to $1,568.9 per ounce. The price of gold has been wallowing between 1,580 and the 1,560s. And it was followed by a surge to $1,611, to the highest levels we haven’t seen since March 2013. However, the difference in the weekly chart between momentum and price is alarming. …
Coronavirus outburst in China pushed commodity markets lower. The number of cases has grown and spread not only in China but across the globe, which is causing concerns of lower demand growth. Prices are not stable, as the death toll rises in China. Jia Zheng, a portfolio manager at hedge fund Shanghai Minghong Investment Management …
Commodity Prices Continue to Fall by Coronavirus Fears Read More »
Coronavirus fears keep hammering the prices. Oil prices went down, with the benchmark US crude falling from $54.16 to $52.48 since the last week. From early October, the market hasn’t experienced such a breakdown in the price. The spread of a fatal virus in China raised investors’ worries about the global economy. Fears start growing …
Oil prices have dropped again Due to Epidemic Fears Read More »
European traders said that the Algerian Professional Cereal Board had bought about 400 000 tones of optional-wheat flour in a global tender closed on Tuesday. Some dealers estimated the quantity at 450 000 tons. Algeria doesn’t disclose the results of its bids. Wheat is required for shipment during two periods. The first one between March …
Despite the delay, China has restricted the use of single-use plastics. The country’s National Development and Reform Commission issued new regulations banning the use of everything from straws to miniature shampoo bottles. Greenpeace tweeted that it was the first time Beijing recognized single-use plastics as a significant problem and took measures to reduce them. By …
China Takes Strict Measures Against Single-Use Plastics Read More »
Spanish black oil gained its first victory in the US court. That could help lift some tariffs imposed by Trump’s administration. US Federal Court of International Trade has emitted the resolution of the appeal about the elimination of taxes of 35% imposed on Spanish black olives, as The Spanish Association of Olive Exporters and Industrialists …
Spanish Olive Scores a Point Against Trump’s Tariffs Read More »
Despite the improvements between America and China’s relationship, the IMF still released a worrying forecast for the global economy. The International Monetary Fund’s latest projection caused the spotlight to turn towards gold in the market. Aside from gold, other safe-haven assets are also gaining in trading sessions. While both WTI crude and Brent oil prices …
IMF Forecast Raises Spot Gold Prices in the Market Read More »
Brent and WTI crude prices jumped on Monday in Asia amid the heating up in tensions among Mideastern countries. Concerns raged over output and export numbers. US Crude oil WTI futures gained 1.1% to $59.25. Meanwhile, International Brent oil futures soared 1.3% to $65.69. Sunday saw Iraq stopping output at an oilfield. This decision comes …
WTI crude prices dropped amid the uncertainty over phase one trade deal signing. US West Texas Intermediate crude futures lost 15 cents or 0.3% at $58.08 per barrel. Meanwhile, Brent crude slipped 16 cents or 0.3% at $64.33 per barrel. The American Petroleum Institute has estimated a crude oil inventory build of 1.1 million barrels …
After rallying in yesterday’s trading, oil petroleum prices appearing to lose steam this Tuesday’s trading session. The two leading global benchmarks are faltering in the crude trading market now. In fact, prices are seen steadying and dipping in today’s trading. Crude contracts were first seen flatlining during the first half of today’s sessions. As of …
After a gruesome series of events for the market at the beginning of the year, traders are finally feeling relief. Oil and petroleum prices are edging up in trading sessions thanks to trade war hopes. So, once again, the focus turns to the protracted trade war between the United States and China. Fortunately, this time, …
Oil and Petroleum Edge Up, Trade Deal Back in Focus Read More »
WTI crude is to record a weekly decline amid the easing Middle Eastern tensions. Heavy losses are to come for oil prices as both the US and Iran back down and seek de-escalation. Investors are booking profits now following the sharp rise in prices during the first half of the week. WTI crude prices reached …
Not even halfway through the end of the first month of the new decade, and it’s already a roller-coaster ride. Oil and petroleum prices fluctuated widely in the past few days, thanks to the intense conflict between Washington and Tehran. After overheating and surging wildly in the last few days, crude prices reached a cap …
Oil and Petroleum Prices Edge Up After Plunging Earlier Read More »
Just in, Tehran fired more than a dozen rockets towards two Iraqi bases hosting American soldiers. Oil and petroleum prices immediately react to the devastating news about the strike. It is as if yesterday traders were taking a step back and reassessing the situation in the Middle East. Unfortunately, today, another drastic turn in the …
Tehran Fires Rockets-Oil and Petroleum Prices Act Read More »
