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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 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 beyond…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

Gold rises on Friday as United States-China tensions return

11:45 am 2019-07-12

Gold rose on Friday and was on its way to a weekly gain, rallying above $ 1,400 as renewed trade tensions between China and the United States amid global economic tensions and the prospect of a rate cut by the US Federal Reserve boosted demand for safe haven. Federal Reserve Chairman Jerome Powell said Thursday that the US central bank is ready to cut interest rates to keep the economy in good shape. He did not say specifically that the…More

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

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