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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 settles and the IEA report expects an oversupply

09:56 am 2019-07-12

Oil prices rose on Friday after US oil producers cut more than half of the Gulf of Mexico's crude production due to Tropical Storm Bari, which is expected to reach land at the end of the week. As well as the report of the International Energy Agency, which expects an increase in supply The IEA expects an increase in oil supply despite OPEC production cuts The International Energy Agency (IEA) said in its monthly…More

Oil prices rise amid rising tensions in the Middle East

11:15 am 2019-07-11

Oil futures hit their highest level in six weeks on Thursday as oil platforms in the Gulf of Mexico were evacuated before the storm, while an accident with a British tanker in the Middle East highlighted the ongoing tensions in the region. A US defense official said on Thursday five boats believed to belong to Iran's Revolutionary Guards approached a British oil tanker on Wednesday and asked them to stop in nearby Iranian waters but withdrew after being…More

Palladium surpasses 1600 dollar amid rising precious metals

09:16 am 2019-07-11

The stakes in the US economy slowed the demand for safe havens on Thursday, including gold and asset class. Palladium exceeded $ 1600 an ounce for the first time since March 22 and is approaching a record high. The Federal Reserve strengthened its interest rate cut later this month as investors analyzed the data in a minutes from the June meeting after a testimony from President Jerome Powell in Congress. Strong data in the latest job report in the United States still left…More

Oil price jumps 2 percent as United States stocks fall

12:23 pm 2019-07-10

Crude oil futures jumped 2% on Wednesday, extending gains earlier in the session and reaching their highest level in a week after private data showed that US oil inventories fell more-than-expected last week. Oil prices rose sharply on Wednesday after the US Petroleum Institute (API) announced a massive withdrawal of crude oil stocks and top US producers cleared platforms in the Gulf of Mexico before a brewing storm. On Tuesday, the US Petroleum Institute (API) said oil…More

Gold fell ahead of Powell's testimony and Federal Reserve record

08:34 am 2019-07-10

Gold prices have fallen below $ 1400, as trade developments between Washington and Beijing wait for signs of the next US interest rate decision, which may be evident from the testimony of bank president Jerome Powell to Congress all day and tomorrow. The minutes of the Fed's latest meeting will also be released later on Wednesday, which investors will also follow in an attempt to see how the bank officials see the interest rate.  US stocks fall…More

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

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