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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

Gold prices rise as concerns about Gulf tensions rise

10:16 am 2019-07-19

Gold prices rose after the United States dropped an unmanned Iranian aircraft, raising concerns about tensions between the two countries, as well as expectations of a US interest rate cut. Dow reaches 100 points in the futures market on hopes of a rate cut The Dow Jones industrial average jumped more than 100 points on Friday as Wall Street stocks rose in pre-market trading, buoyed by the belief that the Federal Reserve may cut interest rates in…More

Oil prices rice as Iran-US tensions increase in gulf

08:28 am 2019-07-19

Oil prices rose from their lowest levels in a month after US President Donald Trump declared that the United States "immediately destroyed" an Iranian drone aircraft approaching the USS Boxer near the Strait of Hormuz. Oil prices have fallen nearly 8 percent since Monday, heading for the worst weekly loss since late May, as renewed trade tensions between the United States and China have affected demand. On the other hand, the US government said on Thursday that the…More

Gold prices are stabilizing as US stocks plummet and dollar slides

10:08 am 2019-07-18

Gold prices fell slightly as the dollar index stabilized amid uncertainty about trade tensions. The Wall Street Journal noted that global trade disputes could not be resolved anytime soon.  Wall Street is retreating ahead of the opening bell, led by the technology sector The dollar weakened slightly on Thursday and stocks fell in pre-market trading in the US, while gold in the red zone was in contrast to other precious metals. Technology companies…More

Oil prices are stabilizing after a wave of strong declines

08:58 am 2019-07-18

 Oil prices fell after falling to a two-week low on Wednesday after data showed the US Energy Information Administration (EIA) showed US oil inventories fell by more than 3 million barrels, but this was due to temporary production disruptions linked to the hurricane Bari. US crude prices have traded around $ 60 a barrel this month so far amid continuing tensions with trade-related threats from the world's two largest economies. Crude oil prices fell yesterday as the…More

Gold prices fell after Powell talked about cutting interest rates

09:29 am 2019-07-17

  Gold prices fell, but are still trading above $ 1400, after US retail sales released yesterday and came in better than expected, despite renewed trade tensions between the United States and China. US stocks rise amid profit season Wall Street rose in pre-market trading on Wednesday, as investors focused on corporate earnings in the US, ahead of the bell just one day after other major banks such as Goldman Sachs and JP Morgan published…More

US crude stabilized with support from stockpile estimates

08:29 am 2019-07-17

US crude is stabilizing with support from stockpile estimates after yesterday's price fell by more than 3% as tensions between the US and Iran cooled after US Secretary of State Mike Pompeo said Tehran was ready to discuss its weapons program. US Petroleum Institute estimates showed oil inventories fell by 1.4 million barrels last week, and markets are awaiting official data later Wednesday from the Energy Information Administration. US Petroleum Institute shows decline in crude oil inventoriesMore

Gold and Dollar stabilized ahead of release of US business results

10:10 am 2019-07-16

Gold prices have stabilized as the performance of the dollar stabilized as investors look to US corporate results and will see retail sales in June in the US today. Most US stocks are flat before the profit market After hitting an all-time high the previous day, stocks in the US were flat mostly in the pre-market market on Tuesday as investors awaited a set of corporate profits. Major banks including JP Morgan,…More

Oil stability, Russia and Saudi want closer ties on oil production

09:04 am 2019-07-16

Oil prices stabilized after falling yesterday as producers began to recover some of the production that stopped at the platforms in Mexico's oil Gulf due to Hurricane Bari. Russia and Saudi Arabia want closer ties on oil production Iran and Russia are studying ways to work more closely together to control global oil production, Energy Intelligence said in a report published on Tuesday. The new agreement is supposed to go…More

Precious metals prices jump after rumors of Wilbur Ross sacking

10:27 am 2019-07-15

Precious metals were higher on Monday as uncertainty in the market kept investors away from stocks and safer options. The media reported that US President Donald Trump was considering dismissing Commerce Secretary Wilbur Ross because he failed to include citizenship in the 2020 census. US President Donald Trump is considering dismissing Commerce Secretary Wilbur Ross after his ministry failed to include nationality in the 2020 census, NBC reported on Monday. US markets are trading…More

Oil prices slightly lower at the beginning of weekly trading

09:55 am 2019-07-15

Oil prices fell as US crude traded near $ 60 a barrel as the storm closed nearly three quarters of the US Gulf of Mexico's oil production and concerns about demand after China's economy grew at its slowest pace in 27 years in the second quarter. About 73 percent of oil production in the Gulf of Mexico ended on Sunday and some producers, including ExxonMobil and Chevron, are preparing to bring workers back to the sea, with…More

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