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Commodities news

A team of top news editors and analysts at will provide a comprehensive coverage of important commodity news and influential economic reports that will make you aware of what is going on in the commodity markets, we update commodity news daily.

Commodities news

Oil rose to offset some losses after falling 4 percent yesterday

07:56 am 2019-06-13

 Crude oil prices reversed some of the losses on Thursday, trading in the green zone after falling 4% during the previous session on the back of the reported rise in US crude inventories. Investment incentives in the oil market fell sharply on Wednesday after the US Energy Information Administration (EIA) said its country's oil stockpiles rose unexpectedly by 2.2 million barrels last week. However, market watchers have regained some confidence in the oil market amid hopes that…More

Gold prices rebound as trade tensions weaken risk appetite

12:04 pm 2019-06-12

Gold prices rebounded from their one-week low on Wednesday as trade tensions between the United States and China rose and growth fears surfaced. After US President Donald Trump said he was suspending a trade deal with China and had no interest in moving forward unless Beijing agreed to four or five "key points" he did not specify. US Secretary of Commerce Wilber Ross said the G20 is not a place where anyone has a final agreement. Elsewhere, China's…More

Oil price falls 1.5 percent as US oil inventories rise

08:47 am 2019-06-12

Crude oil prices fell sharply on Wednesday after a worse-than-expected report from the US Petroleum Institute, suggesting a substantial increase in US crude inventories. On Tuesday, traders learned that the API report showed a 4.9 million barrel rise last week. Oil prices fell following unofficial estimates - a surprise surge in crude and gasoline stocks in the United States last week, ahead of a meeting of OPEC delegates and independent producers to discuss the future of…More

Oil trading continues rise amid anticipation of global trade tensions

12:16 pm 2019-06-11

  Oil prices rose on Tuesday amid expectations that OPEC and its allies will keep production cut longer. Sentiment was boosted after Beijing said it would allow local governments to use private bond proceeds as capital for major projects, including highways, gas, power and railways. As the world looks ahead to the IEA report for next year's market performance, data from oil companies and oil traders gives an initial glimpse, showing that the market is at…More

Gold held steady after the sharp decline in yesterday session

09:04 am 2019-06-11

Gold prices have stabilized after yesterday's first loss in nine sessions, as investors awaited developments on the trade dispute between the world's two largest economies. US stocks rise for futures, Dow 100 points, focus on trade tensions Markets in the US were trading in the Green Zone during pre-market trading on Tuesday, with the Dow up 100 points as investors digested the latest trade news between Washington and Beijing. As US President…More

Gold falls from a 14-month high amid improving sentiment

11:56 am 2019-06-10

Gold prices fell sharply on Monday amid an improvement in risk appetite after the Trump administration suspended tariffs on all Mexican goods indefinitely. Data showed that China's exports unexpectedly returned to growth in May despite rising US tariffs. China's exports grew 1.1 percent last month after falling 2.7 percent in April, according to customs data. Analysts had expected a 3.8 percent drop. A letter from the G-20 outlines the road map to resolve the trade…More

Oil traded higher on expectations of a cut in OPEC output

07:18 am 2019-06-10

  Crude oil prices traded in the Green Zone on Monday, as market watchers were hoping Opec would expand + production cuts to balance the oil market. On Friday, Iraqi Oil Minister Thamer Ghadhban said that the organization and other partners who had gathered around the OPEC + "most likely" initiative would extend the cap agreement until the end of 2019. At the same time, Russian Energy Minister Alexander Novak said after meeting with…More

oil rising despite Russian flurry of Saudi around production levels

02:30 pm 2019-06-06

  Russian President Vladimir Putin said on Thursday that Russia was disagreeing with Opec about the fair price of oil, but Moscow would make a joint decision with its OPEC counterparts on crude production at a meeting in coming weeks to discuss production policy. Putin said the price of oil was between $ 60 and $ 65 a barrel While Saudi Arabia wants a higher price. He added that the decision of OPEC and its oil exporters…More

Palladium stands out ECB decision to stabilize interest rates

02:25 pm 2019-06-06

Palladium traded in green on Wednesday after the European Central Bank decided to leave the three key interest rates unchanged until at least June 2020. Draghi after giving interest European Central Bank President Mario Draghi attributed the decision to extend the direction forward, leaving interest rates unchanged by the end of June next year, to the long uncertainty including the process of Britain's exit from the European Union. Speaking on Thursday after policymakers chose a cautious…More

Oil trading decline and Iran says OPEC meeting has been delayed

12:14 pm 2019-06-04

 Oil turned into losses on Tuesday as Iran sent a letter to the Organization of Petroleum Exporting Countries (OPEC), saying it believed the producers meeting should be held in June and not moved to early July. Other countries, such as Algeria and Kazakhstan, have also told OPEC that the early July date is not for them. The current deal between OPEC producers and non-OPEC producers ends in June. Earlier, Saudi Energy Minister Khalid al-Faleh said OPEC…More

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