Oil Prices Kept Rising While Risk Appetite Hurt Gold
On Thursday, oil prices remained well-oriented, backed by statistics, and, following announcements by OPEC, committed to continuing its efforts to regulate its demand. To continue to deflate global supplies and boost costs, the community of producing countries plans to keep the production of oil below demand this year. The March WTI contract for crude oil […]
Oil Gaining Traction Anticipating Stronger Post-Pandemic Growth
Speculation turned to the commodity market on Monday, driving silver up almost 10 percent, over $30 an ounce. However, on Tuesday, after the Chicago Mercantile Exchange (CME) dramatically increased the cash guarantees needed to trade to $16,500 per contract from $14,000 previously, the Comex-listed March silver futures contract dropped 10.3 percent to $26.40 an ounce […]
Oil And Gold Under Stress By Global Health Scenario
On Friday, oil lost ground amid worries about demand related to the revived outbreak of Covid-19 at the beginning of the year. U.S. light crude WTI (February futures contract on Nymex) gave up 1.6 percent to $52.27 a barrel, while North Sea Brent dropped 1.2 percent to $55.41. Prices were also under pressure from the […]
Oil Prices Surged On Friday After Fate Of Production Cuts Decided By The OPEC
Oil prices rose to their nine months high on Friday as the OPEC group came to an agreement on production cuts last week. WTI rose by 1.4 percent to $46.26 per barrel whereas Brent moved ahead increasing by 1.1 percent to $49.25 on the day. Due to the rising number of cases of coronavirus infection, […]
