Investing.com – US broke new ground with $3 pricing on Thursday, hitting nine-month highs after data showing a smaller-than-expected storage build last week in America’s favorite fuel for indoor heating and cooling. The most-active November gas contract on the New York Mercantile Exchange’s Henry Hub hovered at $3.15 per mmBtu,…

By Maximilian Heath BUENOS AIRES (Reuters) – Argentina’s giant soybean processing plants are running out of soybeans after a historic drought cut the crop in half, the head of the country’s grains export chamber told Reuters, and this will leave well over two-thirds of factory capacity idle. For years, the…

Investing.com – Crude prices rose cautiously Thursday as longs hammered in the previous session tried to cover some of their losses by buying in at the lower levels. Short-covering by some bears closing out their positions for profit and bargain hunting by new buyers for oil at below $90 a…

By Katya Golubkova and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices inched up on Thursday, clawing back some of the previous session’s big losses after an OPEC+ panel maintained oil output cuts to keep supply tight, though an uncertain demand outlook capped gains. futures were 63 cents higher at $86.44 a…

The global oil market has seen significant shifts in recent times, with a 28% rally in oil prices last quarter due to output cuts from OPEC+ and supply limitations from Saudi Arabia and Russia. This surge, however, is predicted to lead to a drop in oil demand this quarter, as…

The West Texas Intermediary (WTI) crude oil market has been experiencing a downward trend recently, with prices falling below $83.20 per barrel on Wednesday. This decline is largely attributed to diminishing supply concerns and an increase in US Treasury yields. The Organization of the Petroleum Exporting Countries (OPEC) and its…

Investing.com – {8830|Gold}} can’t seem to put in a positive close these days, even when the and are in retreat. Gold’s most-active contract on New York’s Comex, December, settled down $6.70, or 0.4%, at $1,834.80 an ounce. The benchmark gold futures contract lost 3.1% last week for its biggest weekly…

Investing.com – US jumped almost 6.5 million barrels last week, the biggest build in nearly two years, a government report showed on Wednesday, as refiners optimized processing of oil to capitalize on still-good profit margins despite waning seasonal demand for fuels.  , meanwhile, fell by just a third during the…

Following a significant price drop earlier this year, the market has been exhibiting a bullish trend since May 2023, according to an exhaustive analysis. The slump was influenced by sales from the U.S. Strategic Petroleum Reserve (SPR) and economic difficulties in China. However, the tide turned in recent months, with…

Investing.com – The oil trade seems to have woken up to the fact that there’s something bigger after all than OPEC: The economy. Crude prices fell almost 6% on Wednesday for the biggest one-day sell-off since September 2022. The plunge came after a rally that began in June, founded more…