Category: Gold and Commodities

Oil Rises on Prospect of OPEC+ Supply Cut

August 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC) last week raised the possibility of production cuts. Brent crude was…

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Stocks and Bonds Slump, Dollar Hot as Rate Fever Takes Hold

August 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks slumped on Monday as the growing risk of more aggressive interest rate hikes in the United States and Europe inflicted fresh pain on bond markets and pushed the dollar to new 20-year highs, just as recession fears mount. Federal Reserve Chair Jerome Powell, speaking at the Jackson Hole symposium on Friday, said the…

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EPA Waives Fuel Rule in 4 States After Indiana Refinery Fire

August 28, 2022
Business & MarketsEPAFuel RuleGold and CommoditiesMarketsUSUS News
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CHICAGO—The Environmental Protection Agency (EPA) temporarily lifted a federal rule for fuel sales in four states in response to a fire last week at an Indiana oil refinery that could affect prices and supply. The emergency waiver was granted Saturday for Indiana, Illinois, Michigan, and Wisconsin, EPA Administrator Michael Regan said. In a letter to…

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Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 26)

August 26, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for October delivery rose 54 cents to $93.06 a barrel Friday. Brent crude for October delivery rose $1.65 to $100.99 a barrel. Wholesale gasoline for September delivery rose 4 cents to $2.85 a gallon. September heating oil rose 6 cents to $4.01 a gallon. September natural gas fell 8 cents to…

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Inflation Eases as Consumer Prices Rise 6.3 Percent in July: Commerce Department Report

August 26, 2022
Business & MarketseconomyenergyGold and CommoditiesinflationMarketsrecessionUSUS News
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WASHINGTON—Inflation eased last month as energy prices tumbled, raising hopes that a surge in prices increases may have peaked. According to Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose 6.3 percent in July from a year earlier after posting an annual increase of 6.8 percent in June, biggest…

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Brent Anchored Above $100 a Barrel, Heading for Weekly Gain

August 26, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose as much as $1 on Friday on signs of improving fuel demand, though an upcoming speech from the U.S. Federal Reserve chairman capped further gains. Brent crude futures climbed $1.53, or 1.54 percent, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3…

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World Stocks Steady, Dollar Ticks Up on Powell-Watch

August 26, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—World stocks were flat on Friday and the dollar edged up as traders and investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the gradient of the U.S. central bank’s rate-hike path. Investors have pared back expectations that the Fed could pivot to a slower pace of rate hikes, as U.S….

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Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 25)

August 25, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for October delivery fell $2.37 to $92.52 a barrel Thursday. Brent crude for October delivery fell $1.88 to $99.34 a barrel. Wholesale gasoline for September delivery rose 1 cent to $2.81 a gallon. September heating oil fell 6 cents to $3.95 a gallon. September natural gas rose 5 cents to $9.38…

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From Coffee to Corn, Global Commodities Market Heating Up Again

August 25, 2022
Business & MarketscoffeecommoditieseconomyGold and CommoditiesinflationMarketsOilUSWorld
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The global commodities market—from coffee to corn to crude—is heating up again. This could spell bad news for public policymakers and consumers in the inflation fight. Coffee has surged about 13 percent over the last week, rising to a near three-month high of $2.40 per pound on the U.S. ICE Futures Exchange. Year to date,…

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Texas Grid Avoids Summer Blackouts With $1 Billion in Extra Spending

August 25, 2022
Business & MarketselectricityenergyGold and CommoditiesgridLocal NewsMarketsRegional-Local NewsTexasUS
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Texas’s electric grid operator has powered through record demand this summer by paying more to keep higher reserves and rewarding industrial consumers to cut usage, a combination that has added more than $1 billion to power fees. The Electric Reliability Council of Texas (ERCOT) has set new demand records 11 times this summer and twice…

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