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Stiff new  U.S. sanctions  against Russia would only have a limited impact on its oil industry because it has drastically reduced its reliance on Western funding and  foreign partnerships  and is lessening its dependence on imported technology. www.mcxgoldstar.com 8859917191 7249938989

Oil prices on Thursday clawed back some of the previous day's losses after Beijing said it would send a delegation to Washington to try to resolve a trade dispute between the United States and China that has roiled global markets. www.mcxgoldstar.com 8859917191 7249938989

Oil prices were mixed on Thursday as data from the Energy Informational Administration (EIA) showed the   U.S. crude inventory  level unexpectedly hiked by 6.8 million barrels in the week ending Aug 10. Analysts previously forecasted stockpiles would fall by 2.5 million barrels. www.mcxgoldstar.com 9719002865 7249938989

A respite for the hard-hit Turkish lira was accompanied by a small gain for gold futures early Tuesday, as the U.S. dollar gave back some of its recent gains. December gold futures   GCZ8,  +0.29%   rose $2.90, or 0.2%, to $1,201.80 an ounce, while September silver  SIU8,  +0.45%   was up 4.3 cents, or 0.3%, to $15.025 an ounce. www.mcxgoldstar.com 7249938989 8859917191 Gold ended at a roughly 1 1/2-year low and below the psychologically important $1,200 level on Monday as Turkey’s currency crisis saw investors continue to seek safety in the U.S. dollar. The greenback’s strength, meanwhile, trumped the haven appeal of the yellow metal. A stronger dollar can be a negative for commodities priced in the currency, making them more expensive in other currency terms. “There is a demand for profit-taking in the markets after powerful movements at the end of last week and a very aggressive trading start of the week,” wrote analysts at FxPro, in...

Oil prices rose on Tuesday after reports revealed that top exporter Saudi Arabia cut production one month after it agreed the Organization of the Petroleum Exporting Countries (OPEC) to produce more crude. Meanwhile, OPEC remains positive on overall demand. www.mcxgoldstar.com 7249938989 8859917191 Brent Oil Futures   for October delivery went up 0.30% to $72.83 per barrel at 1:00AM ET (05:00 GMT), while  Crude Oil WTI Futures  for September delivery also edged upwards by 0.45% to $67.50 per barrel. In the latest OPEC report, the group revised its estimate for oil-demand growth next year to be lower and confirmed that Saudi Arabia had cut production last month. In the report, OPEC estimates the global oil demand growth for 2019 to be 1.4 million bpd, revised lower by 20,000 barrels per day (bpd). Non-OPEC oil supply in 2019, on the other hand, was revised higher by 30,000 bpd to 2.13 million bpd. OPEC production for July rose 41,000 bpd to 32.32 million b...

Oil prices slipped on Monday as trade tensions and troubled emerging markets dented the outlook for fuel demand, but U.S. sanctions against Iran pointed toward tighter supply ahead. www.mcxgoldstar.com 7249938989 9719002865 Benchmark Brent crude oil ( LCOc1 ) was down 25 cents at $72.56 per barrel by 0725 GMT. U.S. light crude ( CLc1 ) was 25 cents lower at $67.38 a barrel. Turkey's financial crisis has raised the risk of contagion throughout emerging economies, dragging down South Africa's rand, Argentina and Mexico's pesos, Russia's rouble and emerging market stocks, and curbing growth and the outlook for oil demand. This is compounding worries that a deepening trade war between the United States , China and the European Union will squeeze business activity in the world's biggest economies. "Trade protectionism and escalating tensions between the world's largest economies (the United States and China) have cast a looming shadow on global oil...

Oil prices dipped on Wednesday after China reported relatively weak import data, although the market remained well supported by falling U.S. crude inventories and the introduction of sanctions against Iran. www.mcxgoldstar.com 7249938989 9719002865 Front-month Brent crude oil futures ( LCOc1 ) were at $74.50 per barrel at 0651 GMT, down 15 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures ( CLc1 ) were at $69.15 per barrel, down 2 cents. China's July crude oil imports recovered slightly in July after falling for the previous two months, but were still among the lowest this year due to a drop-off in demand from the country's smaller independent, or "teapot", refineries. Shipments into the world's biggest importer of crude came in at 36.02 million tonnes last month, or 8.48 million bpd, up from 8.18 million bpd a year ago, and just up on June's 8.36 million bpd, data from the General Administration of ...

Gold prices slipped on Thursday after the dollar steadied after the Federal Reserve concluded a two-days policy meeting and  gave an upbeat assessment  on the U.S. economy . Gold futures  for December delivery on the  Comex division of the New York Mercantile Exchange fell by $0.6, or 0.06%, to $1,227.00 a troy ounce by  1:40AM ET (05:40 GMT).   www.mcxgoldstar.com 8859917191 7249938989 The Fed left interest rates unchanged following a two-day policy meeting, as widely expected. The central bank then upgraded its view on the economy.   The committee said it expects that “further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the committee’s symmetric 2 percent objective.”  The  U.S. dollar index , which tracks the greenback against a basket of other currencies, gained 0.11% to 94.56 by 12:30AM ET (04:30 GMT). "The Fed...

Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, and as economic growth slowed, especially in Asia, amid the escalating trade dispute between the United States and China . Brent  futures dropped 28 cents, or 0.4 percent, to $73.93 a barrel by 0634 GMT, adding to a 1.8 percent loss in the previous session. www.mcxgoldstar.com 9719002865 7249938989 U.S. crude  futures were down 41 cents, or 0.6 percent, at $68.35 a barrel, having dropped nearly 2 percent on Tuesday. Brent fell more than 6 percent in July, while U.S. crude futures slumped about 7 percent, the biggest monthly declines for both benchmarks since July 2016. Weighing on prices was a report by the American Petroleum Institute (API) that showed domestic crude inventories rose by 5.6 million barrels last week. A Reuters poll had forecast a fall of 2.8 million barrels. [API/S] Official data from the U.S. Energy Information Administration (EIA) is due late...