News & Articles

Oil Up Over Iraq Production Cuts, Saudi Aramco results
 
Oil was up on Monday morning in Asia after Iraq said it would step up production cuts and U.S. President Donald Trump took executive action on economic aid for Americans hit by the COVID-19 pandemic, reigniting hopes for a recovery in fuel demand.
 
WTI futures rose 1.07% to $41.66 by 10:32 PM ET (10:32 AM GMT) and Brent Oil futures also were up 0.83% to $44.78.
 
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Dollar Edges Higher, But More Losses Look Likely
 
The dollar edged higher in early European trade Monday, following Friday’s better-than-expected employment report. However, gains are likely to be short-lived as doubts remain about the U.S. economic recovery.
 
At 3:05 AM ET (0705 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 93.477. USD/JPY was flat at 105.94, GBP/USD traded up 0.1% at 1.3062 and EUR/USD was down 0.1% at 1.1772.
 
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Crude Oil Prices Drop on Profit-Taking After Lackluster Jobs Report
 
Prices weakened after the U.S. labor market report showed a sharp slowdown in net job creation in July, even though the 1.76 million rise in nonfarm payrolls was extraordinary by historical standards and slightly above the consensus foreca
 
The figures were nonetheless not strong enough to dispel worries about the strength of the U.S. economic rebound, and all that that means for the supply-demand balance in the global market.
 
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Dollar Gains For Now; Lira Continues to Slide
 
The dollar pushed higher in early European trade Friday, reprising its role as a safe haven amid renewed tensions between the U.S. and China, but gains are likely to be capped by the stalemate in the U.S. Congress over the latest stimulus package ahead of the release of the official monthly jobs report.
 
At 3:10 AM ET (0710 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.2% at 92.995, not far removed from Thursday's two-year low of 92.483.
 
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Gold Opens Week At Record High
 
Gold prices were up on Monday morning in Asia, reaching a record high and continuing its march towards the $2,000 mark.
 
Gold futures climbed by 0.20% to $1,977.80 by 10:23 PM ET (3:23 AM GMT).
 
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Oil Prices Rise Despite An Influx Of OPEC+ Crude
 
Oil prices jumped on Monday morning, recuperating earlier losses, on the first trading day after OPEC+ eased its record oil production cuts by 2 million barrels per day (bpd), while surging COVID-19 cases have dampened the optimism for a swift oil demand recovery.
 
As of 10:57 a.m. EDT on Monday, WTI Crude was up 1.14 percent at $40.73 and Brent Crude up 0.64 percent at $43.80.
 
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Dollar Edges Higher, But More Weakness Likely
 
The dollar has posted small gains in early European trade Monday, but the general trend remains one of greenback weakness amid mounting concerns about a slowing U.S. economic recovery from the coronavirus pandemic.
 
At 3:05 AM ET (0705 GMT), the US Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.3% at 93.550, rebounding from the two-year low of 92.523 seen late last week.
 
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Gold Continues to Climb on Weak Dollar, Low Rates, Pandemic
 
Gold was up on Thursday morning in Asia, continuing to hover near all-time highs boosted by a dollar that is at two-year lows, still-low interest rates and a raging pandemic.
 
Gold futures climbed 0.19% to $1,957.25 by 10:30 PM ET (3:30 AM GMT), getting close to the high water mark of $1,960.00 it hit onTuesday morning.
 
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Crude Oil Tumbles as Economic Data Stoke Demand Fears
 
Crude oil prices slid on Thursday after data showing another rise in the number of Americans claiming jobless benefits, which sowed fresh doubt about the sustainability of fuel demand in the U.S.
 
The numbers came on top of warnings that the coronavirus is spreading more deeply into midwestern states that also account for a large part of U.S. gasoline demand, even as the pandemic starts to show signs of easing in the South and West of the country.
 
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