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Commodities news

A team of top news editors and analysts at Tradingpeek.com 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 prices rising amid concerns over supply and tensions with Iran

01:08 pm 2019-07-09

Oil prices rose above $ 64 a barrel on Tuesday after OPEC and its allies extended production cuts as well as rising tensions in the Middle East that outweighed global growth fears. OPEC and its allies agreed last week to extend oil supply cuts until March 2020 to prevent prices from falling amid rising production from the United States. Iran reportedly violated a uranium enrichment ceiling under a troubled nuclear deal in 2015, a…More

Gold prices fell as palladium prices fell to a one-week low

08:48 am 2019-07-09

Gold prices fell below $ 1400; palladium prices fell to a one-week low as investors assessed the possibility of a US rate cut this month, ahead of Federal Reserve Chairman Jerome Powell's testimony on Wednesday and Thursday before Congress. Palladium prices fell on Tuesday, erasing the precious metal gains recorded in the last seven days. With most stock markets around the world tumbling ahead of US Federal Reserve Chairman Jerome Powell's testimony to Congress, during which…More

Gold prices soar ahead of Powell testimony to Congress on Fed policy

09:28 am 2019-07-08

The precious metal rallied as the dollar index stabilized as markets awaited Federal Reserve Chairman Jerome Powell's testimony to Congress on monetary policy and the state of the US economy on Wednesday and Thursday.  US stocks fall after strong jobs data US stocks fell on the pre-market market on Monday as investors' hopes of a rate cut from the Federal Reserve followed a strong job report. Where strong US data, which showed…More

Oil stability and Iran oil minister "optimistic" about future crude sales

08:21 am 2019-07-08

Oil prices have stabilized despite continued tensions over Iran, as well as a reduced likelihood of a quick trade deal between Washington and Beijing. Traders last week booked the United Kingdom on an Iranian ship, claiming it was on its way to transport oil to a Syrian refinery under EU sanctions. However, Tehran insisted that the ship was not destined for Syria, and indicated that the Syrian port, which the United Kingdom claims the…More

Oil rebounds as traders bet on US strength after job report

02:14 pm 2019-07-05

Market participants switched to oil futures on Friday, cutting off session losses and raising prices on the notion that the US economy was not facing strong adverse winds as officials warned the Fed. The Labor Department said employers added 224,000 jobs in June. The jump in crude oil has challenged the dollar's rise, as the rise usually makes the energy commodity more expensive for other currency holders. OPEC's oil production fell in June to its lowest level…More

Oil trades amid rising tensions over Iran's oil tanker

11:53 am 2019-07-05

Oil prices diverged in trading, but US crude is poised to record the biggest weekly loss since May, with concerns about global demand, despite OPEC and its allies agreeing to extend the cut to 2020.  Iran demands the immediate release of the tanker in Gibraltar Iran on Friday called on Britain to "immediately release" the oil tanker previously held in Gibraltar, describing it as "unacceptable." According to a statement issued by the Iranian…More

Gold price fell marginally ahead of US employment data

09:05 am 2019-07-05

Gold prices fell marginally but are heading for the longest weekly gain since 2011 as investors eye the US jobs report ahead of monthly data, which is expected to add 160,000 jobs in June. Which may provide clues about the future course of interest rates. US stocks are slightly lower in pre-market trading Most Wall Street stocks were down in pre-market trading on Friday after Independence Day as investors awaited key US jobs…More

Gold prices fell as the dollar rallied amid the US Independence Day holiday

10:12 am 2019-07-04

Gold prices have fallen, but are still above the $ 1400 level as the greenback is stabilized in relatively quiet trading due to a holiday in the US market on Independence Day. The Dow Jones, the Nasdaq 100 closes at its highest level ever US markets continued gains in a short trading session ahead of the July 4 holiday on Wednesday as the Dow Jones Industrial Average and Nasdaq 100 closed at…More

Oil prices are trading lower under the pressure of US crude supply

08:39 am 2019-07-04

Oil prices fell on Thursday on lower-than-expected declines in US crude inventories. The US Energy Information Administration (EIA) reported that inventories fell by 1.1 million barrels in the last week compared to expectations of a 3 million barrel decline. From June, raising further fears of increased supply and falling prices. At the same time, OPEC's production cuts have also failed to address demand problems. The weak US economic data added to concerns about the global…More

Oil surged as US inventories and Middle East tensions plummeted

10:44 am 2019-07-03

Oil prices rose after Tuesday's close of more than 4%, led by data - unofficial - showed a decline in crude stocks in the United States more than expected last week. Fears of an oil shock are hurting the already fragile global economy through a sharp increase in crude prices, as risks to one of the most important lifelines of the oil market, the Strait of Hormuz, have increased, according to a Telegraph report. A source close…More

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