Oil prices rose on Monday, extending pre-weekend gains, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide as economies recover from coronavirus pandemic-induced slumps. Brent crude futures climbed 26 cents, or 0.3%, to $85.79 a barrel at 0048 GMT, following on from last Friday’s 1.1% gain. The contract Read More
Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched. Helping to drive the latest gain, a supply report from the U.S. Energy Information Administration on Wednesday showed crude and Read More
Gold prices inched up on Tuesday, as a decline in the dollar and U.S. bond yields provided some support to the precious metal. Fundamentals Spot gold rose 0.2% to $1,767.91 per ounce by 0126 GMT. U.S. gold futures rose 0.2% to $1,769.60. Supporting gold by making it cheaper for buyers in other currencies, the dollar Read More
Oil prices jumped to a three-year high above $85 a barrel on Friday, boosted by forecasts of a supply deficit in the next few months as the easing of coronavirus-related travel restrictions spurs demand. Brent crude futures advanced 1% to settle at $84.86 per barrel. Front-month prices, which touched their highest level since October 2018 Read More
Oil prices climbed on Friday, heading for gains of more than 2% for the week, on increasing signs of tight supply over the next few months as rocketing gas and coal prices stoke a switch to oil products. U.S. West Texas Intermediate (WTI) crude futures rose 30 cents, or 0.4%, to $81.61 a barrel at 0156 GMT, adding Read More
Oil prices climbed on Thursday, reversing previous losses, as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying. The uptick was also supported by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating demand. Brent crude futures gained 67 cents, or 0.8%, to $83.85 Read More
Gold prices rose on Tuesday, as rising inflation fears dulled risk appetite and boosted demand for the safe-haven metal, although an advancing U.S. dollar limited bullion’s gains. Spot gold rose 0.3% to $1,759.31 per ounce by 13:44 p.m. EDT, while U.S. gold futures settled 0.2% higher at $1,759.3. A global energy crunch has threatened economic Read More
Oil rose towards $84 a barrel on Tuesday, within sight of a three-year high, supported by a rebound in global demand that is contributing to energy shortages in big economies such as China. With demand growing as economies recover from pandemic lows, the Organization of the Petroleum Exporting Countries (OPEC) and allied producers, collectively known Read More
Oil prices rose on Friday, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now. U.S. West Texas Intermediate (WTI) crude futures climbed by 84 cents, or 1.1%, Read More
Oil prices rose on Friday, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now. U.S. West Texas Intermediate (WTI) crude futures climbed by 84 cents, or 1.1%, Read More
