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POPULAR NEWS
Gold prices recoup some of their recent losses ahead of U.S. jobs data

Gold futures finished higher Thursday, recouping much of the losses suffered a day earlier, as traders awaited monthly domestic employment data due at the end of the week, which may influence haven demand for the precious metal. Gold for February delivery on Comex added $2.90, or 0.2%, to settle at $1,483.10 an ounce, following a loss of 0.3% on Wednesday. March silver rose 14.3 cents, or 0.9%, to $17.059 an ounce, on the back of a 1.9% loss a day earlier. January platinum declined 0.1% to...

Oil Sputters After OPEC+ Fails to Nail Down New Output Target

Oil sputtered near $58 a barrel as the OPEC+ coalition failed to pin down the details of an agreement to adjust its official output target even after six hours of talks in Vienna. Futures were little changed in New York after gyrating throughout the previous session. While the Organization of Petroleum Exporting Countries is nearing a deal to cut production targets by 500,000 barrels a day, ministers left the cartel™s headquarters on Thursday without cementing an agreement....

Gold Steady as Investors Weigh Trade Hopes, U.S. Jobs

Gold was little changed after see-sawing this week as investors assessed the latest optimism surrounding progress on a trade deal between the U.S. and China, and a lower-than-expected U.S. jobs report. The two countries are moving closer to a phase-one pact despite tensions over Hong Kong and Xinjiang, according to a report Wednesday. That revived risk-on sentiment, which had been curbed earlier this week after President Donald Trump downplayed the urgency of an...

Gold edges lower after fall in U.S. weekly jobless claims

Gold futures lost ground Thursday, turning slightly lower after a fall in weekly U.S. jobless claims underpinned support for stocks and other risky assets, dulling the yellow metal's haven appeal. Gold for February delivery on Comex was off 70 cents, or less than 0.1%, at $, 479.50 an ounce, while March silver rose 1.4 cents, or 0.1%, to $16.93 an ounce. The Labor Department said the number of Americans who applied for first-time unemployment benefits fell to the lowest level in seven months...

Oil futures end mixed as traders await confirmation of deeper production cuts

Oil futures ended on a mixed note Thursday, with U.S. prices settling unchanged for the session and global prices higher, as traders awaited a decision on output from major oil producers, following reports that OPEC and its allies have recommended cutting production by another 500,000 barrels a day. West Texas Intermediate crude for January delivery on the New York Mercantile Exchange settled flat at $58.43 a barrel on the New York Mercantile Exchange. Prices climbed 4.2% on Wednesday to mark...

Oil prices rally as weekly U.S. crude inventory drops by almost 13 million barrels
Thursday, 27 June 2019 02:50 WIB | ENERGY |MinyakWTIBrentOil,

Oil prices climbed sharply on Wednesday, as the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks, reportedly the largest since 2016.

Given the big draw in gasoline and supply decline at the U.S. oil trading hub at Cushing, Okla., "we wouldn't be surprised to see the $60 level get breached in WTI," he said. "However, with the upcoming OPEC meeting and also the [Group of 20 leaders summit], we will see the next directional move on the results of these two events."

August West Texas Intermediate crude rose $1.83, or 3.2%, to $59.66 a barrel on the New York Mercantile Exchange after tapping a high at $59.93. It was trading at $59.24 before the supply data. The contract wrapped up trading Monday at $57.90, the highest front-month contract finish since May 29, according to Dow Jones Market Data.

International benchmark August Brent crude gained $1.63, or 2.5%, to $66.68 a barrel on ICE Futures Europe. Brent rose 0.3% to $65.05 on Tuesday. Last Friday, the contract saw its highest close”at $65.20”since May 30.

The Energy Information Administration on Wednesday reported that U.S. crude supplies dropped by 12.8 million barrels for the week ended June 21. Analysts polled by S&P Global Platts expected a decline of 2.8 million barrels in crude stocks, on average. The American Petroleum Institute on Tuesday reported a 7.5 million-barrel fall.

Source : Marketwatch         

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POPULAR NEWS
Gold prices recoup some of their recent losses ahead of U.S. jobs data

Gold futures finished higher Thursday, recouping much of the losses suffered a day earlier, as traders awaited monthly domestic employment data due at the end of the week, which may influence haven demand for the precious metal. Gold for February delivery on Comex added $2.90, or 0.2%, to settle at $1,483.10 an ounce, following a loss of 0.3% on Wednesday. March silver rose 14.3 cents, or 0.9%, to $17.059 an ounce, on the back of a 1.9% loss a day earlier. January platinum declined 0.1% to...

Oil Sputters After OPEC+ Fails to Nail Down New Output Target

Oil sputtered near $58 a barrel as the OPEC+ coalition failed to pin down the details of an agreement to adjust its official output target even after six hours of talks in Vienna. Futures were little changed in New York after gyrating throughout the previous session. While the Organization of Petroleum Exporting Countries is nearing a deal to cut production targets by 500,000 barrels a day, ministers left the cartel™s headquarters on Thursday without cementing an agreement....

Gold Steady as Investors Weigh Trade Hopes, U.S. Jobs

Gold was little changed after see-sawing this week as investors assessed the latest optimism surrounding progress on a trade deal between the U.S. and China, and a lower-than-expected U.S. jobs report. The two countries are moving closer to a phase-one pact despite tensions over Hong Kong and Xinjiang, according to a report Wednesday. That revived risk-on sentiment, which had been curbed earlier this week after President Donald Trump downplayed the urgency of an...

Gold edges lower after fall in U.S. weekly jobless claims

Gold futures lost ground Thursday, turning slightly lower after a fall in weekly U.S. jobless claims underpinned support for stocks and other risky assets, dulling the yellow metal's haven appeal. Gold for February delivery on Comex was off 70 cents, or less than 0.1%, at $, 479.50 an ounce, while March silver rose 1.4 cents, or 0.1%, to $16.93 an ounce. The Labor Department said the number of Americans who applied for first-time unemployment benefits fell to the lowest level in seven months...

Oil futures end mixed as traders await confirmation of deeper production cuts

Oil futures ended on a mixed note Thursday, with U.S. prices settling unchanged for the session and global prices higher, as traders awaited a decision on output from major oil producers, following reports that OPEC and its allies have recommended cutting production by another 500,000 barrels a day. West Texas Intermediate crude for January delivery on the New York Mercantile Exchange settled flat at $58.43 a barrel on the New York Mercantile Exchange. Prices climbed 4.2% on Wednesday to mark...

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