Category «Commodity»

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

By Administrator_India Capital Sands Oil rose in early trade on Wednesday on expectations global oil stocks will fall back to more normal levels this year and as U.S. lawmakers moved closer to approving President Joe Biden’s $1.9 trillion COVID-19 aid bill without Republican support. U.S. West Texas Intermediate (WTI) crude futures climbed 11 cents, or …

Gold and Brent crude rise over 1% after Janet Yellen’s ‘act big’ call

Gold and Brent crude rise over 1% after Janet Yellen's 'act big' call

By Administrator_India Capital Sands Gold rose on Wednesday to a one-week high as the dollar weakened on US Treasury secretary nominee Janet Yellen’s call to “act big” on measures to help the American economy recover from the impact of the pandemic. Brent Crude, too, jumped and traded above $56 a barrel. Spot gold gained 1.18 …

Oil Down, With Rising COVID-19 Cases Increasing Fuel Demand Fears

Oil Down, With Rising COVID-19 Cases Increasing Fuel Demand Fears

By Administrator_India Capital Sands Oil was down Tuesday morning in Asia, with rising numbers of COVID-19 cases globally contributing to rising fuel demand worries. However, expectations of a drawdown in U.S. crude oil inventory helped to limit losses for the black liquid. Brent oil futures edged down 0.13% to $55.59 by 10:27 PM ET (3:27 AM GMT) and …

Oil slips on demand worries as COVID-19 lockdowns tighten in Europe

Saudi Arabia plans to increase oil output amid recovery in prices

By Administrator_India Capital Sands Oil prices dipped in early trade on Tuesday, with demand worries due to tighter lockdowns in Europe outweighing relief from vaccination rollouts and concerns about a flare-up of tension in the Middle East. U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.3%, to $46.83 a barrel at 0158 …

Gold Steadies As US Stimulus Bets Outweigh Vaccine Hopes

Gold and Brent crude rise over 1% after Janet Yellen's 'act big' call

By Administrator_India Capital Sands Gold prices steadied on Monday as grim U.S. jobs data bolstered hopes for more fiscal stimulus, although optimism around coronavirus vaccine rollouts kept gains in check. Spot gold prices were steady at $1,837.04 per ounce by 0320 GMT, while U.S. gold futures were little changed at $1,840.80. “Softer jobs growth and …

Oil up on Vaccine Positivity, U.S. Electoral Transition Certainty

Saudi Arabia plans to increase oil output amid recovery in prices

By Administrator_India Capital Sands Oil was up on Tuesday morning in Asia as a rollout of at least one COVID-19 vaccine within the next month looks increasingly certain, promising increased demand in the new year. Also, the U.S. presidential transition is finally underway, offering political certainty. Brent oil futures rose 0.83% to $46.42 by 04:01 …

Oil prices drop for fourth day as COVID-19 second wave worries intensify

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

By Administrator_India Capital Sands “Since April we have seen a miraculous recovery in oil demand – which is now at about 92% of pre-pandemic levels, but it’s too early to declare an end to the COVID-19 oil demand destruction era,” said Rystad Energy oil markets analyst Louise Dickson. A meeting on Monday of a ministerial …

Gold Down Over Trump Cancellation of Stimulus Talks

Gold Down Over Trump Cancellation of Stimulus Talks

By Administrator_India Capital Sands Gold was X on Wednesday morning in Asia, hit by U.S. President Donald Trump’s shock cancellation of talks over the latest stimulus measures and a strengthening dollar. Gold futures slid 1.17% at $1,886.45 by 11:44 PM ET (3:44 AM GMT), after hovering near a one-week low hit during the previous session. The …

Oil Edges Up From Three-Week Low as Trump’s Outlook Improves

Oil Edges Up From Three-Week Low as Trump’s Outlook Improves

By Administrator_India Capital Sands Oil inched higher in New York as President Donald Trump’s doctors gave an upbeat assessment of his health even as labor market weakness heightened concerns over an economic recovery. U.S. crude futures added as much as 0.5% after slumping 4.3% in volatile trading on Friday on news that the U.S. president had …