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Commodity
Oil Up Over 2% as Market Buys Into OPEC Output Hike Plan
Crude prices swung from green to red and back on Thursday before settling up more than 2% up as traders bought into OPEC+’s assurances that the global oil producing alliance could manage with higher output from May, despite questionable…
OPEC+ to Choose Between Gradual Output Hikes Or Keeping Cuts
The OPEC+ meeting on Thursday will discuss whether to resume a monthly schedule of modest and gradual production increases or maintain current output cuts, according to a delegate.
The choice between those two options could still go…
Oil Ends March Lower On Cautious Pre-OPEC Trade
Oil prices fell more than 2% Wednesday to close down for the day and March as traders moved cautiously ahead of a decision on production quotas by OPEC+.
New York-traded West Texas Intermediate, the benchmark for U.S. crude, settled down…
Biden Proposal Seeks Billions Of Dollars To Advance Climate Change Agenda
U.S. President Joe Biden's vast plan to modernize the nation's infrastructure includes hundreds of billions of dollars to boost the market for electric vehicles, renewable power and advanced clean energy technologies, while stripping away…
OPEC+ Panel Lowers Oil Demand Growth Forecast
OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market's recovery amid a wave of new coronavirus lockdowns, a report from its experts panel meeting seen by Reuters showed.…
Gold Down As Chinese Factory Activity, U.S. Treasury Yields Rise
Gold was down on Wednesday morning in Asia, ending March on a lower note as China reported faster-than-expected growth in its factory activity and U.S. Treasury yields climbed.
Gold futures were down 0.42% at $1,679 by 13:15 PM ET (5:15…
Gold Down, Near Two Week Low Over Firm Dollar, Rising Treasury Yields
Gold was down on Tuesday morning in Asia, dropping to its lowest level in more than two weeks. Investors turned away from the safe-haven asset as the quickening vaccine rollout and the prospect of more stimulus measures in the U.S. saw the…
Gold in First Weekly Decline In Three, U.S. Treasury Yields Rise
Gold was down on Friday morning in Asia and was set to record its first weekly decline in three as U.S. Treasury yields rose.
Gold futures inched down 0.07% at $1,723.95 by 12:42 AM ET (4:42 AM GMT), after hitting a one-week low of…
Tugs Resume Effort To Clear Suez Ship Blockage; Traffic Jam Builds
Efforts to dislodge a 400-metre long container vessel that has choked traffic along the Suez Canal resumed at high tide on Thursday, with five tugs working to drag the vessel to deeper water, according to ship-tracking data.
The Ever…
Gold Down, Weighed Down By Strengthening Dollar
Gold was down on Tuesday morning in Asia as the dollar strengthened, and fresh COVID-19 restrictive measures were introduced across Europe.
Gold futures were down 0.22% at $1,734.30 by 11:56 PM ET (3:56 AM GMT). The dollar edged up on…