Commodity Market: US Crude Oil retreats as API reports unexpected rise in oil stocks, stimulus expectations cap losses

January 21, 2021 10:20 am
After two straight trading days of gains, futures on US West Texas Intermediate Crude Oil eased on Thursday, as an industry report revealed an unexpected increase in US crude oil stocks, which once again brought forth concerns over demand. The American Petroleum Institute (API) reported on Wednesday that US crude oil inventories had risen by […] Read more

Commodity Market: US Crude Oil eases from a 47-week peak in spite of larger US oil inventory drop, rising Chinese oil imports

January 14, 2021 10:10 am
Futures on US West Texas Intermediate Crude Oil eased from a fresh 47-week high on Thursday, despite that China’s customs data revealed a rise in crude oil imports and crude oil stocks in the US dropped more than anticipated last week, as surging new coronavirus infections worldwide and related oil demand concerns continued to weigh. […] Read more

Commodity Market: US Crude Oil poised for 21% slump this year due to COVID-19 lockdowns, fiscal stimulus in focus

December 31, 2020 10:02 am
Following a two-day rally, futures on US West Texas Intermediate Crude Oil eased on Thursday and were set to register a 21% slump in 2020, as COVID-19-related lockdown restrictions delivered a blow to many segments of the global economy, while crippling fuel demand. Still, oil prices have rebounded from their decade-lows registered in April, as […] Read more

Commodity Market: US Crude Oil falls a third day on unexpected US oil inventory build, Trump threatens not to sign relief bill

December 23, 2020 10:49 am
Futures on US West Texas Intermediate Crude Oil retreated for a third straight trading day on Wednesday, as an industry report revealed a surprise crude oil inventory build in the United States, while President Donald Trump threatened not to sign an $892 billion COVID-19 relief bill. Trump demanded that Congress raise the amount in the […] Read more

Commodity Market: Gold eases from one-month highs, but still on track for third consecutive week of gains

December 18, 2020 10:24 am
Having touched a one-month high of $1,896.32 on Thursday, Spot Gold eased during European trade on Friday, but was still poised to register its third successive week of gains due to growing optimism over further stimulus measures in the United States. Congressional Republicans and Democrats scrambled to pass a new round of coronavirus relief yesterday, […] Read more

Commodity Market: US Crude Oil hits a 42-week high as US oil stockpiles drop, fiscal stimulus deal progress also supports

December 17, 2020 10:45 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior several trading days on Thursday, while hitting highs not seen since late February, after a government report revealed a drop in weekly US crude oil inventories. Media reports of progress being made on US fiscal stimulus deal provided some additional support. A […] Read more