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
Gold prices experienced a modest increase on Friday, positioning themselves for the strongest weekly performance in three months. This uptick is underpinned by rising anticipations of a potential U.S. interest rate cut this month, with market focus shifting towards the forthcoming U.S. non-farm payrolls data scheduled for release later in the day. Spot gold increased Read More
Oil prices experienced a decline on Thursday, following a drop of over 2% in the prior trading session. This movement comes as investors and traders anticipate a weekend meeting of OPEC+, during which producers are likely to deliberate on a potential increase in output targets. Brent crude experienced a decline of 27 cents, representing a Read More
Gold maintained its position on Thursday, remaining close to the all-time high reached in the prior session, supported by global uncertainties and in light of comments from several Fed officials who indicated that concerns regarding the labor market continue to shape their expectation of forthcoming rate cuts. Fed Governor Christopher Waller expressed his belief that Read More
Oil prices exhibited stability during Asian trading on Wednesday, maintaining the gains driven by sanctions from the prior session as market participants anticipated the upcoming OPEC+ meeting scheduled for the weekend. Brent crude experienced a slight decline of 1 cent, or 0.01%, settling at $69.13 per barrel as of 0032 GMT. U.S. West Texas Intermediate Read More
