Category: Gold and Commodities

Oil Prices Fall Over $1 a Barrel on Russian Oil Price Cap Talks

LONDON—Oil prices fell by more than $1 a barrel on Wednesday as the Group of Seven (G7) nations looked at a price cap on Russian oil above where the crude grade is currently trading. Brent crude futures fell $2, or 2.26 percent, to $86.36 a barrel at 1153 GMT, while U.S. West Texas Intermediate (WTI)…


World Shares Mostly Higher Ahead of Release of Fed Minutes

BANGKOK—World shares have advanced ahead of Wednesday’s release of minutes from the Federal Reserve’s last policy meeting. Benchmarks rose in London, Paris, Hong Kong, and Shanghai. Markets were closed in Japan for a holiday. The Federal Reserve minutes could give investors more insight into the U.S. central bank’s decision-making process. Wall Street has been hoping…


Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 22)

Benchmark U.S. crude oil for January delivery rose 91 cents to $80.95 a barrel Tuesday. Brent crude for January delivery rose 91 cents to $88.36 a barrel. Wholesale gasoline for December delivery rose 10 cents to $2.54 a gallon. December heating oil fell 3 cents to $3.47 a gallon. December natural gas was unchanged at…


Oil Rises as Saudi Comments Outweigh Recession Concerns

LONDON—Oil rose on Tuesday after top exporter Saudi Arabia said OPEC+ was sticking with output cuts and could take further steps to balance the market, outweighing global recession worries and concern about China’s rising COVID-19 case numbers. Saudi Arabian Energy Minister Prince Abdulaziz bin Salman on Monday was also quoted by state news agency SPA…


Global Stocks Gain After Wall Street Slide, China Virus Fears

BEIJING—Major global stock markets advanced Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. London and Frankfurt opened higher. Shanghai and Tokyo gained, while Wall Street futures were lower. Oil prices gained. Wall Street’s benchmark S&P 500 index declined Monday after a Federal Reserve official rattled investors last week…


Australian Stocks Near Five-Month High

The local share market has jumped to a six-day high and is close to its best level in five and a half months. The benchmark S&P/ASX200 index was up 35 points to 7174.3 at noon AEDT on Tuesday, a rise of 0.49 percent. The broader All Ordinaries was up 32.8 points to 7367.9, a 0.45…


Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 21)

Benchmark U.S. crude oil for December delivery fell 35 cents to $79.73 a barrel Monday. Brent crude for January delivery fell 17 cents to $87.45 a barrel. Wholesale gasoline for December delivery rose 2 cents to $2.44 a gallon. December heating oil fell 2 cents to $3.50 a gallon. December natural gas rose 48 cents…


What Are the Different Uses for Gold?

There are many uses of gold in the modern world, from practical to purely symbolic. As a limited resource, gold retains its value. Gold is one of the most sought-after and trusted commodities. Even the term “gold standard” refers to a standard that is unquestioned or above reproach. Gold has motivated pirates, treasure hunters, and…


Oil Prices Ease to Near 2-month Lows on China Demand Fears, Dollar Strength

LONDON—Oil prices slipped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices. Brent crude futures for January had slipped 51 cents, or 0.6 percent, to $87.11 a barrel by 1205 GMT….


World Stocks Tumble on Chinese COVID-19 Outbreaks

LONDON—World stocks and oil prices fell on Monday as fresh COVID-19 restrictions in China exacerbated worries about the global economic outlook. The safe-haven dollar rallied, while the U.S. Treasury yield curve remained deeply inverted in a sign that investors remain alert to global recession risks. Coronavirus outbreaks across China are a setback to hopes for…