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Showing posts from October, 2017

Brent oil near two-year highs as OPEC's compliance with cuts improves

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Brent crude oil  prices were near two-year highs on Wednesday as OPEC has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the deal. www.mcxgoldstar.com 7830278303

Gold Prices Break 3-Day Winning Streak as China Factory Growth Disappoints

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Gold prices headed lower on Tuesday, breaking a three-day winning streak, as a dip in  Chinese business activity  raised questions about demand prospects. On the Comex division of the New York Mercantile Exchange,  gold  for December delivery inched down $1.22, or about 0.10%, to $1.276.48 a troy ounce by 5:56AM ET (9:56GMT). www.mcxgoldstar.com 7830278303

Crude Oil Prices on Track for 4% Gains in October Ahead of Inventory Data

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Oil prices registered modest losses on Tuesday in the last trading day of the month, but were still on track for gains of more than 4% during October as investors took profit ahead of weekly inventory data. www.mcxgoldstar.com 7830278303

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Oil prices stable as OPEC-led supply cuts tighten market, but some caution remains

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Oil prices were stable early on Tuesday, supported by a tightening market due to ongoing OPEC-led efforts to cut supplies, although the prospect of rising U.S. shale output dragged. www.mcxgoldstar.com 7830278303

U.S. oil exports boom, putting infrastructure to the test

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Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic. www.mcxgoldstar.com 7830278303

Big Oil executives jet to Rio for deepwater oil sale

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Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has lured top executives from the world's biggest oil companies to Rio de Janeiro for the bidding round. www.mcxgoldstar.com 7830278303

Gold Prices Hold Near 3-Week Low as Dollar Gains

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 Gold prices hit close to a three-week low on Friday as dollar strength continued to put pressure on the precious metal and risk appetite for equities remained in full swing. www.mcxgoldstar.com 7830278303

Oil markets tighten, Brent approaches $60 per barrel

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Oil prices inched higher on Friday, with  Brent crude  approaching $60 a barrel amid tightening market expectations, buoyed by comments from Saudi Arabia's Crown Prince backing the extension of OPEC-led output cuts. www.mcxgoldstar.com 7830278303

Gold Prices Bounce Off More Than 2-Week Lows; ECB Ahead

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 Gold prices bounced off their lowest level in more than two weeks on Thursday, as the dollar took a breather after its recent rally ahead of a key  European Central Bank meeting  later in the day. www.mcxgoldstar.com 7830278303

Oil prices inch lower on increases in U.S. crude inventories, production

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Oil prices inched lower on Thursday, pressured by an unexpected increase in U.S. crude inventories and as oil output and exports from the United States rose last week. www.mcxgoldstar.com 7830278303

Gold Prices Slide to 2-1/2-Week Low Amid Hawkish Fed Chair Speculation

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Gold prices slumped to their lowest level in more than two weeks on Wednesday, following a report that Republican senators were leaning towards John Taylor to be the next Federal Reserve chief. www.mcxgoldstar.com 7830278303

Crude Oil Prices Steady as Focus Shifts to U.S. Stockpile Data

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Crude oil prices held steady on Tuesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products. Industry group the American Petroleum Institute is due to release its  weekly report  at 4:30PM ET (2030GMT). www.mcxgoldstar.com 7830278303

Gold Prices Edge Higher but Stay Within Sight of 2-Week Lows

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Gold prices edged higher on Tuesday, but stayed within sight of the prior session's two-week lows as markets continued to grapple with uncertainty over who will become the next Federal Reserve chief and how that will influence the outlook for interest rates. www.mcxgoldstar.com 7830278303

Oil prices inch up, support from drop in southern Iraq exports

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Oil prices inched up on Tuesday, getting support from a decline in oil exports from OPEC's second-biggest producer Iraq and a projected extended fall in U.S. commercial oil stocks. London  Brent crude  for December delivery was up 5 cents at $57.42 a barrel by 0258 GMT after settling down 38 cents on Monday. www.mcxgoldstar.com 78302783

Gold Prices Gain In Asia On Weaker Dollar

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Gold prices gained in Asia on Thursday with a weaker dollar aiding buuying sentiment in the physical market. Gold futures  for December delivery on the Comex division of the New York Mercantile Exchange rose 0.27% to $1,284.36 a troy ounce. The U.S. dolalr index fell 0.16% to 93.57. www.mcxgoldstar.com 7830278303

Gold Prices Hit 2-Week Low as Dollar Gains

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 Gold prices hit a more-than-two week low on Monday as dollar strength continued to put pressure on the precious metal. www.mcxgoldstar.com 7830278303

Oil edges up on tighter supplies, strong demand

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Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising. www.mcxgoldstar.com 7830278303

Crude Oil Prices Near 3-Week Highs on Bets for Bullish U.S. Supply Data

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Crude prices inched higher to near their strongest level in around three weeks on Wednesday, amid speculation weekly supply data due later in the session will show U.S. oil stocks fell for the fourth week in a row. The U.S. Energy Information Administration will release its official  weekly oil supplies report at 10:30AM ET (1430GMT). www.mcxgoldstar.com 7830278303

Canada's oil sands survive, but can't thrive in a $50 oil world

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 Canada's oil sands producers are stuck in a rut. The nation's oil firms are retrenching, with large producers planning little or no further expansion and some smaller projects struggling even to cover their operating costs. www.mcxgoldstar.com 7830278303

Gold Prices Stabilize Near 1-Week Low Ahead of Fed Speakers

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Gold prices steadied on Wednesday, one day after suffering their biggest daily loss in almost four weeks, as markets continued to speculate over President Donald Trump's choice of a candidate to succeed Janet Yellen as Federal Reserve Chair. www.mcxgoldstar.com 7830278303

Oil Takes a Breather After Rallying To 3-Week Highs

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Crude prices were relatively flat on Tuesday, pausing for breath after rallying to the  highest level in around three weeks in the prior session  due to worries over escalating violence between Iraqi troops and Kurdish forces near Kirkuk. www.mcxgoldstar.com 7830278303

Risk premium returns to oil over Iraq fighting, rising U.S.-Iran tensions

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A risk premium has returned to oil markets, boosting global prices as escalating fighting in Iraq threatens supplies while political tensions loom between the United States and Iran. www.mcxgoldstar.com 7830278303

Asia oil buyers turn to U.S. in hunt for cheap supply

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 Asia is set to ramp up crude oil imports from the United States in late 2017 and early next year, with buyers searching out cheap supplies after hurricanes hit U.S. demand for the commodity at a time of rising production in the country. www.mcxgoldstar.com 7830278303

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Oil rises as fighting escalates in Iraq's oil-rich Kirkuk

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Oil markets jumped on Monday as Iraqi forced entered the oil city of Kirkuk, taking territory from Kurdish fighters and raising concerns over exports from OPEC's second-largest producer. www.mcxgoldstar.com 7830278303

Oil starts the week above $52

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Crude futures were in the green overnight, up 1.2% to $52.07/bbl, after President Trump refused to certify that Iran is complying with its nuclear accord. During the previous round of sanctions against Tehran, around 1M bpd of oil supplies were cut off from global markets. www.mcxgoldstar.com 7830278303

Gold Prices Move Higher with U.S. Inflation Data in Focus

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Gold prices moved higher on Friday, as sentiment on the greenback remained vulnerable ahead of highly-anticipated data on U.S. inflation due later in the day. www.mcxgoldstar.com 7830278303

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Oil rises on tighter U.S. market, strong China imports

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Oil prices rose on Friday as both  U.S. crude  production and inventories declined, pointing towards a tightening market. Strong Chinese oil import data also supported crude prices, traders said. www.mcxgoldstar.com 7830278303

Gold Prices Gain In Asia As Fed Minutes Seen Slightly Dovish

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Gold gained in Asia as the Fed appears on track for a December rate hike, but set a somewhat overall dovish tone on the track for 2018 in minutes released overnight. www.mcxgoldstar.com 7830278303

Oil rises on signs of tighter market, but 2018 looks more uncertain

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Oil prices edged up on Wednesday, rising for a third day, on signs that markets are gradually tightening after years of oversupply, although the outlook for 2018 remained less certain. www.mcxgoldstar.com 7830278303

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Gold Prices Rise on Softer Dollar, Geopolitical Worries

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Gold prices rose on Tuesday boosted by the softer dollar and safe haven buying as geopolitical tensions kept investors on edge. www.mcxgoldstar.com 7830278303

Oil prices stable as OPEC says market is rebalancing

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Oil prices were steady on Tuesday as OPEC said there were clear signs the market was rebalancing and as U.S. production remained offline following Hurricane Nate. www.mcxgoldstar.com 7830278303

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Gold Prices Start the Week on Upbeat Note Amid North Korea Worries

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Gold prices started the week on an upbeat note on Monday, as investors fretted about the simmering tensions between the U.S. and North Korea. www.mcxgoldstar.com 7830278303

Oil up on expectation of Saudi production restraint, lower U.S. rig count

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Oil prices edged up on Monday, after a 2 percent slide on Friday, on expectations that Saudi Arabia would continue to restrain its output in order to support prices, and as the amount of rigs drilling for new oil in the United States dipped. www.mcxgoldstar.com 7830278303

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