Commodities

The specter of a prolonged conflict in the Middle East has sent shockwaves through global energy markets, bolstering oil prices.

Gold's bullish outlook is also supported by the banking crisis and calls for recession, which continues to create uncertainty in the global economy

While oil prices softened slightly on Thursday, they remained within the trading band seen since the start of 2023.

Crude oil inventories in the U.S. Strategic Petroleum Reserve (SPR) fell 7.5 million barrels in the week to Sept. 2 to 442.5 million barrels, their lowest since November 1984, according to data...

SINGAPORE: Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery....

U.S. oil prices shot above $10 for the first time in about 14 years due to a surge in prices in Europe, where tight supplies persist.

A stronger dollar also weighed on oil prices as a firmer greenback makes oil more expensive for holders of other currencies.

Oil prices typically rise when the dollar falls as a weaker dollar makes crude cheaper for buyers holding other currencies.

A sharp fall in purchases by investors pulled global gold demand down 8% in the second quarter compared to the same period in 2021, the World Gold Council said.

Oil Prices also found support as the Group of Seven richest economies aims to have a price-capping mechanism on Russian oil exports in place by Dec. 5.

Oil prices rose in early Asian trade on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles.

U.S. LNG total base load export capacity increased from less than 1 billion cubic feet per day (Bcf/d) in 2015 to about 10.78 Bcf/d at the end of 2021.

Spot gold firmed 0.1% to $1,718.97 per ounce, by 0041 GMT, while U.S. gold futures dipped 0.1% to $1,716.70.

Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel at 0205 GMT, down for a fourth day in declining global oil prices.

Oil is generally priced in U.S. dollars, so a stronger greenback makes the commodity more expensive to holders of other currencies. Investors also tend to view the dollar as a safe haven...

The OPEC+ move to bring forward crude oil output hikes is widely seen as unlikely to meet demand as the increased allocation is spread across all members, including Russia which is facing...

Brent crude oil futures were on track to fall for the week, and WTI was on course for a 1.6% weekly gain as U.S. supply remained very tight, prompting talk of fuel...

International crude oil benchmark Brent crude futures were last down 1.68% at $114.34 per barrel. U.S. crude futures dropped 1.87% to $113.10 per barrel.

Oil prices eased on Wednesday, giving up earlier gains, after China and Japan reported weak economic data, fueling concerns about growth and oil demand in the world’s top consumers.

The partial easing of Shanghai lockdowns lifted some of the downward pressure that was starting to be felt on worries about Chinese oil demand, she said.

Demand for oil will be affected in China - the world’s biggest oil importer - by pandemic-driven mobility restrictions and in Russia by international sanctions.

Proposed EU sanctions, which the bloc’s 27 member states must approve, would ban buying Russian coal and prevent Russian ships from entering EU ports. Britain also urged G7 and NATO nations to...

Oil prices climbed on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels per day (BPD) of Russian crude and refined products from April. The supply loss...

Oil prices stabilized on Friday and were on track for their biggest weekly drops since November after see-sawing on fears of escalating bans on Russian oil versus efforts to bring more supply...

Oil prices gained on reports of cyberattacks on several Ukrainian state websites added to fears about escalating tensions with Russia.

Tight supply was seen in U.S. crude oil stockpiles, which unexpectedly fell 4.8 million barrels in the week to Feb. 4 to 410.4 million barrels as overall refined product demand reached an...

Sources said an OPEC+ technical panel meeting on Tuesday did not discuss a hike of more than the expected 40,000 barrels of crude oil per day from March.

The risk of geopolitical disruptions to oil supply at a time of already tight inventories due to the strong post-pandemic recovery has sent the premium commanded by barrels for prompt delivery soaring,...

Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand. Brent crude...

Crude oil prices surged on Wednesday, with Brent climbing to $90 a barrel for the first time in seven years, amid the tensions between Ukraine and Russia, the world’s second-largest oil producer,...

Oil prices hit seven-year highs last week on worries that supplies could tighten due to Ukraine-Russia tensions and worries about the conflict in Yemen.

Spot gold was little changed at $1,840.24 per ounce by 0323 GMT. U.S. gold futures were also steady at $1,840.70.

Lower U.S. oil inventories are also providing support, with crude inventories around the NYMEX WTI delivery point at Cushing in Oklahoma at the lowest for the time of year since 2012.

Oil prices jumped on Monday as geopolitical tensions in Eastern Europe and the Middle East heightened concerns about an already tight supply outlook, while OPEC and its allies continued to struggle to...

Falling equity markets also impacted crude oil markets as investors have become increasingly worried about central banks raising interest rates this year to combat inflation

OPEC officials and analysts say that an oil rally may continue in the next few months, and prices could top $100 a barrel as demand shrugs of the spread of the omicron...

OPEC+ supply constraints and the ongoing increase in global oil demand will likely keep oil prices well supported in the coming months.

Benchmark 10-year U.S. Treasury yields touched a two-year peak, while the dollar hit a six-day high earlier in the session, making gold expensive for overseas buyers.

Some oil producers within the Organization of the Petroleum Exporting Countries (OPEC) are struggling to pump at their allowed capacities, due to underinvestment and outages.

With oil prices above $80 a barrel, there is growing political pressure for the White House to lobby OPEC+ to hit their production quotas.

Data from the U.S. Energy Information Administration on Wednesday showed oil demand has taken a hit from omicron, with gasoline stockpiles increasing by 8 million barrels in the week to Jan. 7

Chinese markets rose on Wednesday, tracking gains in other Asia-Pacific markets. U.S. markets also rallied overnight as comments from the Fed chief appeared to reassure investors.

Oil prices climbed on Wednesday, extending big gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates more slowly than expected, which should support...

The market is waiting on U.S. oil and product inventory data from the American Petroleum Institute (API), an industry group, due at 2130 GMT on Tuesday, followed by data from the U.S....

The oil and gas rig count, an early indicator of future output, rose two to 588 in the week to Jan. 7, its highest since April 2020, energy services firm Baker Hughes...

Oil prices edged up on Friday, heading for their biggest weekly gains since mid-December, fueled by supply worries amid escalating unrest in Kazakhstan and outages in Libya.

Global petroleum production increased more slowly than demand, driving higher prices. The slower increase in production was mostly attributable to OPEC+ crude oil production cuts that started in late 2020

Last year, oil prices rose around 50%, spurred by the global economic recovery from the COVID-19 pandemic slump and producer restraint, even as infections reached record highs worldwide.

After rising for several straight days, oil prices stalled on Friday as Covid-19 cases soared to new pandemic highs across the globe.

Oil prices have been underpinned by Ecuador, Libya and Nigeria declaring forces majeures this month on part of their oil production because of maintenance issues and oilfield shutdowns.

Oil gained more ground on Tuesday with prices trading close to last session’s one-month high on expectations that the Omicron coronavirus variant will have only a limited impact on global demand. Brent...

Gold prices inched higher on Monday, staying above the key $1,800 per-ounce level, as slightly weaker U.S. Treasury yields offset an uptick in the dollar.

Russia believes oil prices are unlikely to change significantly next year with demand recovering to pre-pandemic levels only by the end of 2022, Deputy Prime Minister Alexander Novak said on Friday.

Oil prices fell on Friday in thin, holiday trade after a three-day rally, with investors trying to gauge the omicron coronavirus variant’s impact on demand.

 Oil prices rose again on Wednesday as the dollar slipped, with risk appetite returning as some governments resist imposing lockdowns to curb the spread of the Omicron COVID-19 variant and as China...

Oil prices rose on Tuesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant globally, prompting countries to consider more restrictions potentially denting fuel demand. Brent crude futures...

The oil and gas rig count, an early indicator of future output, rose by three to 579 in the week to Dec. 17, its highest since April 2020, energy services firm Baker...

Benchmark Brent crude oil futures and WTI both gained around 2% on Thursday, buoyed by record U.S. implied demand.

U.S. crude oil inventories sank by 4.6 million barrels in the week to Dec. 10, data from the U.S. Energy Information Administration showed.

American Petroleum Institute data showed U.S. crude oil stocks fell by 815,000 barrels in the week ended Dec. 10, according to market sources

Still, the Organization of the Petroleum Exporting Countries raised its world oil demand forecast for the first quarter of 2022 and stuck to its timeline for a return to pre-pandemic levels of oil use.

A stronger dollar, rising ahead of U.S. inflation data due later on Friday, also weighed on fuel prices. Oil typically falls when the dollar firms as it makes oil more expensive for...

Oil prices extended gains on Thursday on confidence that the omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread. U.S. West Texas...

Oil prices edged lower on Wednesday, reversing gains from earlier the week, as investors tried to assess the full impact of the omicron coronavirus variant on global fuel demand and the effectiveness of...

A delay in the return of the Iranian oil supply also supported prices. Indirect U.S.-Iran nuclear talks have hit roadblocks. Germany urged Iran on Monday to present realistic proposals in talks over...

On Sunday, Saudi Arabia raised January official selling prices for all crude oil grades sold to Asia and the United States by up to 80 cents from the previous month.

Oil prices rose on Thursday, recouping the previous day's losses, as investors adjusted positions ahead of an OPEC+ decision oversupply policy, but gains were capped amid fears the Omicron coronavirus variant will...

Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus...

 Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the...

Oil prices slid more than 2% on Friday on concerns that a global supply surplus could swell in the first quarter following a U.S.-led coordinated release of crude reserves among major consumers...

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed...

Oil prices fell on Wednesday as the U.S.-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day’s rally ahead of...

Oil prices dropped on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand...

Japanese Prime Minister Fumio Kishida signalled on Saturday he was ready to help counter soaring oil prices following a request from the United States to release oil from its emergency stockpile.

Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world's major economies of their official crude reserves to try to lower...

Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers...

Oil prices dropped on Wednesday after U.S. gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring...

Oil rebounded from a weak start on Tuesday as worries over tight inventories underpinned prices, although optimism was limited by fears over demand following a pickup in COVID-19 cases in Europe. Brent...

Crude oil prices skidded on Monday, under pressure from expectations of higher supplies and weakening demand. Brent crude futures fell 58 cents, or 0.7%, to $81.59 a barrel, as of 0151 GMT.  U.S. West Texas...

Oil prices slipped on Friday, wiping out gains from the previous session, as the dollar continued to rise on bets the U.S. central bank will bring forward plans to raise rates to...

 Oil prices slumped on Thursday, hit by a surge in the dollar after U.S. President Joe Biden said his administration was looking for ways to reduce energy costs amid a broader surge...

Oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed U.S. crude stocks unexpectedly fell last week just as near term travel demand picked up with pandemic...

Oil prices rose for a third straight session on Tuesday as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand.

Oil prices rose on Monday after Saudi Arabia's state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Brent crude...

Oil prices rose around 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted...

Oil prices extended declines on Thursday after Iran and world powers agreed to resume nuclear talks this month that could lead to the removal of U.S. sanctions on Iranian oil, increasing global...

Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world's largest oil consumer, and as pressure mounted...

Oil prices were steady on Tuesday as key producer group OPEC undershot its expected pace of output increases last month, while the world's top crude consumer China ramped up operating rates to...

 Oil prices dropped on Monday as China's release of gasoline and diesel reserves eased concerns over tight global supply, while investors cashed in ahead of a Nov. 4 meeting of major crude...

U.S. oil stocks rose much more than expected in the week to Oct. 22, data from the Energy Information Administration showed on Wed.

Oil prices slumped to their lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude, and rising cases of COVID-19 in Europe, Russia, and some outbreaks...

Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world's largest oil consumer....

Oil prices edged higher on Tuesday after trading down earlier, looking set to sustain a rally driven by strong demand in the United States, the world's biggest consumer of crude and its...

Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world as economies...

Oil prices fell on Friday with Brent on track for its first weekly dip in seven weeks as demand for oil products in power generation cooled off amid easing coal and gas...

Oil prices were mixed on Thursday, paring earlier gains, as some investors scooped up profits from the recent rally while solid demand in the United States and a switch to fuel oil...

Oil prices slipped on Wednesday after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity as Beijing moved to ease a...

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and coal...

Oil prices hit their highest in years on Monday as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to...

 Oil prices climbed on Friday, heading for gains of more than 2% for the week, on increasing signs of robust demand and tighter supplies over the next few months as rocketing gas...