Commodity Market

Gold Falls Despite Coronavirus Fears, but Projected to Lift

Gold Falls Despite Coronavirus Fears, but Projected to Lift

Gold prices fell by 0.60 dollars by 0.04% on Monday, closing at $1,580.8 in London. Futures in the United States also inched down by 0.08% to $1,581.4 per ounce from lower trading volumes than usual in celebration of an American holiday. The safe haven commodity traded a two-week high on Friday at around $1,584.65, which …

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Conflict Between Belarus and Russia Affects European Market

Conflict Between Belarus and Russia Affects European Market

The dispute between Russia and Belarus is starting to threaten the supply of fuel in European countries. For the first time ever, the long-running disagreement between the two is getting on the nerves of European experts and traders. Reports say that Belarus will take crude from transit pipelines once shipments from Russia are below 2 …

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Early OPEC+ Meeting Unlikely Yet, Says Azerbaijan Official

Early OPEC+ Meeting Unlikely Yet, Says Azerbaijan Official

Energy Minister Parviz Shahbazov of Azerbaijan says that an emergency or early meeting for OPEC+ is unlikely. The official’s comments come at a time when traders and experts are widely expecting an emergency meeting for the pact. It’s speculated whether the assembly of the Organization of the Petroleum Exporting Countries will occur to discuss the …

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Oil Drops, On Track for Worst Month Amid Virus Scare

Oil prices slipped on Friday as sentiment continued to be weak. China’s industrial base got ready to impose extreme measures to halt the rapid spread of the coronavirus. US crude futures were 0.6% weaker at $51.81 per barrel. UK Brent, which is the global crude benchmark, lost 1% at $56.76 per barrel. In January, prices …

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Oil Volatile After Houthi Attacks, US Stockpiles Increase

Oil Volatile After Houthi Attacks, US Stockpiles Increase

The price of oil surged after Yemen’s Houthi rebels said they attacked an oil facility in Saudi Arabia. West Texas Intermediate for delivery in March gained 48 cents to $53.96 per barrel on the New York Mercantile Exchange. On Tuesday, the contract rose 0.6%. Meanwhile, Brent for delivery in March gained 1.2% to $60.23 per …

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