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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 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

Geopolitical tensions push gold higher near 1430 dollar

08:53 am 2019-07-03

   Gold prices rose on the back of falling stocks and dollar stability, along with the resurgence of trade threats to influence investor sentiment in global markets and fears of slowing global growth. The United States imposed tariffs of more than 400 percent on Vietnamese steel imports, a day after it threatened to target products worth $ 4 billion imported from the European Union to support its authorities Airbus. Wall Street tops the market despite global tensions…More

Oil prices rise after OPEC agrees to extend output cuts

09:35 am 2019-07-02

Oil prices rose after OPEC confirmed the producer producers' agreement to extend an agreement to limit supply for another 9 months starting in July this year, pending talks with independent producers. OPEC confirms another nine months of production cuts The Organization of Petroleum Exporting Countries (OPEC) said on Monday it would continue to cut production in the next nine months. After today's meeting, OPEC President Manuel Salvador Kvedo said the negotiations had been successful and…More

Gold rises as dollar falls with signs of US-European trade war

08:49 am 2019-07-02

  Gold prices rose as the dollar depreciated marginally against most of its major rivals and on fears of a deepening trade row between the United States and the European Union after days of easing tensions between Washington and Beijing. Gold gained today after the US Trade Representative's Office unveiled a Washington study on the proposal to impose additional tariffs on EU goods worth $ 4 billion.  Wall Street is down slightly in pre-opening trading More

Gold price fell more than 1 percent as trade tensions eased

12:14 pm 2019-07-01

Gold prices fell more than 1 percent on Monday, as the interim US-China trade truce led to a drop in demand for a safe haven. Gold is hovering near its lowest level in more than a week as the US dollar rallied after the United States and China agreed to resume trade talks and decided not to impose additional fees on each other's products. China and the United States will face a long road ahead of reaching…More

WTI exceeds 60 dollar a barrel ahead of OPEC meeting

08:26 am 2019-07-01

Oil futures continued to rise on Monday as the WTI rose above $ 60 a barrel for the first time in more than a month as investors focused on the meeting of the Organization of Petroleum Exporting Countries (OPEC) later in the day. The cartel will discuss the possibility of extending the current production cuts of 1.2 million barrels per day for another six months, and is expected to announce the final decision after tomorrow's meeting with major…More

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