On Thursday, oil prices remained unchanged, reflecting a moderation from the prior session. This stability can be attributed to subdued demand in the United States and overarching concerns regarding oversupply, which overshadowed apprehensions related to conflicts in the Middle East and the ongoing war in Ukraine. Brent crude futures experienced an increase of 1 cent, Read More
Gold experienced a modest increase on Thursday, as the release of softer-than-anticipated U.S. producer price index data bolstered existing strong expectations for a Federal Reserve interest rate cut in the upcoming week. Meanwhile, investors remained attentive to forthcoming key consumer inflation data for additional insights. Spot gold was up 0.1% at $3,645.04 per ounce, as Read More
Oil prices experienced an uptick on Wednesday following Israel’s assault on Hamas leadership in Qatar, alongside U.S. President Donald Trump’s call for Europe to implement tariffs on purchasers of Russian oil. However, a subdued market outlook limited the extent of these gains. Brent crude futures increased by 35 cents, representing a 0.53% rise, reaching $66.74 Read More
Gold prices remained unchanged on Wednesday, as investors anticipated important inflation reports scheduled for later this week. Meanwhile, the prospect of a U.S. interest rate cut this month contributed to maintaining bullion above the significant $3,600-per-ounce threshold. Spot gold maintained its position at $3,624.39 per ounce, as of 0101 GMT, following a record high of Read More
Oil prices rose on Tuesday following OPEC+’s decision to boost production, by a smaller margin than expected by market participants. Meanwhile, worries about tighter supply stemming from possible new sanctions on Russia continued to provide support. Brent crude increased by 22 cents, or 0.33%, reaching $66.24 a barrel at 0005 GMT, while U.S. West Texas Read More
Gold hit a new high on Tuesday, driven by increased speculation regarding potential Federal Reserve rate cuts this year. Bullion increased by 0.3%, reaching a new record high of over $3,647 an ounce, surpassing the previous peak set on Monday. It rose by 2.5% over the last two sessions following unexpectedly weak US payrolls data Read More
Oil prices experienced an uptick on Monday during early trading, recovering some of the losses incurred last week, following OPEC+’s decision over the weekend to increase output at a more measured rate starting in October, driven by projections of declining global demand. Brent crude experienced an increase of 34 cents, representing a 0.5% rise, reaching Read More
Gold prices surged to an unprecedented peak on Monday, surpassing the significant $3,600 threshold following disappointing U.S. jobs data that solidified anticipations of an interest rate reduction by the U.S. Federal Reserve in its upcoming meeting. Spot gold experienced an increase of 0.7%, reaching $3,612.20 per ounce. Bullion reached an unprecedented peak of $3,616.64 earlier Read More
Hedge funds increased their bullish positions on crude oil to the highest level since June, driven by tight conditions in US markets and geopolitical uncertainties. This surge in optimism occurred just prior to indications that OPEC+ might contemplate a significant increase in output, which subsequently led to a decline in futures this week. Money managers Read More
The price of oil experienced a decline in early trading on Friday, marking the third consecutive day of downward movement as investors anticipated an OPEC+ meeting scheduled for this weekend, which will deliberate on potential increases in output. Brent crude futures decreased by 23 cents, representing a 0.3% decline, settling at $66.77 per barrel at Read More
