Archive for Category: Market Outlook Commodities

Oil falls amid dollar strength; demand picture still bullish

Brent Crude was trading 1.15% down at  $72.25. Oil prices fell for a second straight session on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off...

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Commodity Markets Outlook

Crude oil prices steady near multi-year highs

Brent Crudewas trading 0.65% down at $73.90. Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S Crude inventories and broadly shrugging off a stronger U.S. dollar. Brent Crude Oil futures dropped 20 cents, or 0.2%, to $74.19 a barrel by 1156 GMT. They hit their...

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Brent Crude oil Prices

Oil hits new high near $75 on demand rise, falling inventories

Brent Crudewas trading 0.54% up at $74.37. Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S Crude inventories. The American Petroleum Institute reported U.S. crude...

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Brent Crude oil Prices

Oil gains as risk of Iran supply resumption recedes

Brent Crudewas trading 0.80% up at $73.44. Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent...

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Brent Crude oil Prices

Oil holds near multi-year highs amid demand recovery

Brent Crudewas trading 0.47% up at $73.03. Oil prices held near multi-year highs on Monday , underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs. Brent Crudewas up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and...

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OPEC+

OPEC+ will need to boost output to meet 2022 demand recovery – IEA

Brent Oilwas trading 0.33% up at $72.75. The world will need a lot more oil from OPEC+ as global demand is on track to return to pre-pandemic levels at the end of next year, the International Energy Agency said on Friday, just a few weeks after saying long-term oil...

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Crude Oil WTI

Oil prices rebound after knock from U.S. driving season data

Crude Oil WTIwas trading 0.13% up at $70.04. Oil prices rose on Thursday a day after slipping on data indicating weak U.S. driving season fuel demand as investors eyed upcoming U.S. economic data. Brent Crude Oil futures were up 18 cents, or 0.25%, at $72.40 a barrel by 1024...

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Crude Oil

Iran Sees Most Oil Output Back One Month After Sanctions Removal

Crude Oil WTIwas trading 0.39% up at $70.32. Iran plans to restore the bulk of its Crude Oilproduction within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the 2015 nuclear deal, the official Shana news agency reported, quoting an official...

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Gold prices

Gold Down, Investors Await Further Inflation Data

GOLD was trading 0.08% up at $1900.25. Gold was down on Tuesday morning in Asia, hovering just below the $1,900 mark as investors await further clues later in the week to gauge inflationary pressure. God Futures inched down 0.03% to $1,898.30 by 12:12 PM ET (4:12 AM GMT). The...

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Brent Crude Oil Prices

Oil eases on Iran concern after hitting two-year high above $72

Brent Crude was trading 0.29% down at $71.68. Oil eased after hitting a two-year high above $72 a barrel on Monday, pressured by the prospect of higher Iranian exports though recovering demand and OPEC+ supply curves provided underlying support. Demand is rising in the United States and Europe as...

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