Archive for Category: Commodities News

Gold price

Gold climbs; elevated inflation, recession risk, and war in Ukraine

Gold price is up 0.80% at $1990.22 per ounce on mid-Monday trades. Due to concerns over the economic fallout of the Russia-Ukraine war and surging inflation, investors hoard the safe-haven assets. As a result, gold prices have soared recently against a strong dollar and rising U.S. treasury yields. The...

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OPEC+ oil

OPEC+ set to confirm modest April output rise despite oil price spike

Brent Crude was trading up 5.97%at $111.22 OPEC+ oil producers meeting on Wednesday do not plan to accelerate output rises, according to a draft deal seen by Reuters, as Saudi Arabia and the United Arab Emirates recommit to a deal with Russia even as crude prices rocket higher. Oil...

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Oil drops amid rising stockpiles and COVID-19 demand concerns

Brent Crude was trading 1.18% down at $68.06. Oil prices dropped on Tuesday, extending declines to three consecutive days, as rising stockpiles in the United States added to the risks to a demand recovery after countries including Germany and France halted COVID-19 vaccinations. Brent Crudewas down 69 cents, or...

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Oil hits almost 14-month high after OPEC+ extends output cuts

WTI CRUDE was trading 2.48 up at $65.41. Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand. Brent Crudefutures were up $1.52,...

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Oil optimism unwinding market’s mad dash for storage

Brent was trading 0.06 up at $63.73. When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. At the end of...

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