The Fujairah Oil Terminal is investing an estimated $45 million to upgrade the infrastructure at its storage facilities, betting on a surge in crude trading and storage demand at the United Arab Emirates oil hub, the company’s chairman told Reuters. FOT’s expansion, financed by a new $280 million debt facility, will connect its terminal to Read More
Oil fell on Thursday for the first session in four amid renewed concerns about demand recovery as more restrictions are imposed to curb Covid-19 infections. Brent crude was down 61 cents, or 0.9%, at $71.63 per barrel, having risen 1.7% on Wednesday. U.S. oil was down 68 cents, or 1%, at $67.68 a barrel, after Read More
Gold retreated below $1,800 on Wednesday as the dollar halted its slide while investors sought cues on the timeline of monetary tapering from the U.S. Federal Reserve’s symposium this week. Spot gold was down 0.6% at $1,792.76 per ounce by 7:10 a.m. ET, while U.S. gold futures fell 0.7% to $1,795.50. Gold jumped 1.4% on Read More
Oil prices rose on Tuesday, extending sharp gains on a bullish demand outlook as Mexico suffered a big production outage and U.S. regulators issued their first full approval for a COVID-19 vaccine. Brent crude oil futures were up $1.33, or 1.9%, at $70.08 per barrel, while U.S. West Texas Intermediate (WTI) gained $1.21, or 1.8%, Read More
Gold prices were flat on Friday, as a firmer dollar eclipsed support from rising anxiety over increasing cases of coronavirus’ Delta variant that could delay economic recovery. Fundamentals Spot gold was flat at $1,780.43 per ounce by 0056 GMT, while U.S. gold futures was little changed at $1,782.40. The dollar index held near a more Read More
Gold prices declined by Rs 307 to Rs 47,276 per 10 gram in the Mumbai retail market on the firm rupee and muted global cues. The yellow metal traded in a narrow range as investors await FOMC meeting minutes later in the day. The price of 10 gram, 22-carat gold in Mumbai was Rs 43,305 Read More
Gold prices retreated slightly from a more than one-week peak on Tuesday as some investors opted for the dollar instead as surging COVID-19 Delta variant cases posed a threat to a global economic recovery. Fundamentals Spot gold fell 0.2% to $1,784.02 per ounce by 1:59 p.m. EDT (1759 GMT) after hitting its highest since Aug. Read More
Gold extended its recovery on Monday buoyed by a pullback in U.S. Treasury yields and some safe-haven buying spurred by COVID-19 related concerns, with investors looking for more direction from the Federal Reserve on monetary policy. Fundamentals Spot gold rose 0.5% to $1,787.76 per ounce by 1440 GMT, erasing declines from earlier in the session. Read More
Gold rose more than 1% on Friday as a retreat in the dollar enticed investors to snap up the bullion following its recent sell-off. Spot gold rose to $1,772.80 per ounce by 10:26 a.m. ET, after hitting its highest in more than a week at $1,774.30, in a sharp recovery from over four-month lows touched Read More
Gold prices held on to overnight gains on Thursday, after data showing U.S. consumer price increases slowed in July soothed concerns of an early tapering of economic support. Spot gold was little changed at $1,750.34 per ounce by 0104 GMT, having recorded it biggest one-day percentage gain since May 6 on Wednesday. U.S. gold futures Read More
