By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Monday to a three-week low as a higher-priced contract expired, the U.S. dollar strengthened and traders took profits, concerned about rising crude supplies and pressure on demand from high interest rates. On its first day as the front-month,…

China’s decreased oil demand is playing a significant role in the global oil market, countering recent crude price surges, according to Citigroup (NYSE:). Analysts there highlighted this shift on Monday, underscoring China’s growing significance in the oil markets, now comparable to OPEC+. They pointed out that China has been transitioning…

In an unexpected turn of events, {{8849|U.S. crcrude oil inventories fell by 2.2 million barrels, hitting a yearly low on Wednesday. This significant drop has led to a rise in the Nymex front-month crude contract for November delivery, which climbed to $92.97 a barrel. Meanwhile, storage at Cushing, Okla., a…

On Wednesday, both gold and experienced a decrease in value on the Multi Commodity Exchange (MCX). The due October 5, 2023, witnessed a marginal drop from Rs 58,432 to Rs 58,253 per 10 grams, marking a decrease of Rs 173 or 0.31 per cent. Simultaneously, silver futures set to mature…

Investing.com – Gold hit 6-½ month lows Wednesday as the $1,900-an-ounce support in place since early August crumbled amid a continued flow of investment money from the yellow metal towards the dollar and Treasury yields. Gold’s most-active futures contract on New York’s Comex, , settled at $1,890.90 an ounce, down…

Investing.com – Oil prices jumped more than 3% Wednesday, with U.S. crude hitting a 10-month high above $94 a barrel, as traders responded to another weekly drop in crude stockpiles in the United States even as demand for fuels fell amid a seasonal decline in road travel. New York-traded West…

In a recent development, futures saw a significant surge of 3.6%, reaching $93.68 per barrel, a value not seen in over a year. This rise was triggered by an announcement from the Energy Information Administration last Wednesday about a 2.2 million barrel drop in U.S. crude inventories. The reduction in…

Industrial metals have been experiencing a downturn due to the anticipation of the Federal Reserve’s extended tight monetary policy and escalating risk-averse sentiment ahead of China’s Golden Week. The robust U.S. dollar and bond yields, bolstered by the Federal Reserve’s hawkish stance, are exerting pressure on prices. Thursday saw a…

CANBERRA (Reuters) – The Australian government said on Thursday that China was removing barriers to imports of hay from Australia, the latest step towards normalising trade relations between the two countries. China restricted imports of a range of commodities from Australia in 2020 after Australia called for an inquiry into…

Gold prices experienced a slight rise in the early hours of Thursday’s Asian trading session due to a mild weakening of the U.S. dollar, according to an analysis by Commonwealth Bank of Australia (OTC:) (CBA) analyst Vivek Dhar. was specifically priced at $1,876.63 per ounce. In his research note, Dhar…