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Tag: Oil Prices

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Oil Gained On Last Day But Lost During The Year, Gold Won

On Thursday, oil prices fluctuated before finishing higher. For the February futures market on Nymex, the price of U.S. WTI light crude oil gained 0.3 percent to $48.52 a barrel, while North Sea Brent gained 0.6 percent to $51.91. However, in 2020, as a result of declining demand related to the Covid-19 crisis, crude oil prices lost 20 percent. On Thursday, Gold gained 0.1% to $1,893.10 an ounce on the February Comex futures market, and posted a 25% leap for the year, fuelled by worries about the Covid-19 crisis. This is the best year in 10 years for yellow metal
Equity News

Oil Continued Rally On Tuesday

Oil prices continued to rise on the decline highlighted by the data in oil inventories. On Tuesday per barrel price of WTI crude oil futures rose by +0.88 percent to $48.00 while that for February Brent crude oil futures increased by +0.45 percent to $51.09 per barrel. The rise in oil prices was driven by a report from the American Petroleum Institute (API) that US domestic crude oil inventories dropped 4.79 million barrels last week. If the data is confirmed today by the official EIA report on changes in oil and oil products reserves (the consensus forecast assumes a decrease

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Equity News

Oil Prices Risen In Pre-Holiday Session

Trading on the ICE and CME platforms was not held on Friday 25 December on the occasion of the celebration of Christmas. On the eve of oil futures, the price added about 0.3 percent, continuing to respond to data released by the EIA a day earlier on the decline in oil reserves in the United States. The conclusion of a trade agreement between the European Union and the United Kingdom after Brexit was an additional plus. Following the trading results on December 24, February crude oil futures for Brent added 0.25 percent and closed at $51.37, February crude oil futures
Equity News

Oil And Gold: A Tough Day For Both, Tesla (TSLA) Stock Also Dropped On Its First Day

On Monday, the oil sector remained under pressure from the U.S. Congress still not coming to an agreement on the stimulus plan as well as suffering the impact of new coronavirus wave in the United Kingdom which raised questions about the economic recovery in all parts of the world especially in Europe. In the January Nymex contract, U.S. light crude oil (WTI) dropped -2.77 percent to $47.74 a barrel. In February, the Brent contract for delivery lost -2.58 percent to $50.91 per barrel. On the other end, with strengthening Dollar, Gold for the February Comex futures contract, dropped -0.34 percent
Trading Signals

Oil And Gold End The Thursday Session In Green

On Thursday, December 17, oil prices updated their nine-month highs. In general, the sentiment on the commodity markets remained very positive, owing to the expectations of a positive impact of the population’s coronavirus vaccination, as well as the introduction of a new package of economic stimulus. Brent crude oil’s February futures traded in the green with a rise of 0.82 percent and concluded at $51.50, WTI crude oil’s January futures increased by 1.1 percent to $48.36, its high since March. On the other hand, gold prices rose by 1.68 percent to $1887.20 per Troy ounce on Thursday. The prices of
Equity News

Oil Prices Rose Even In Presence Of Adverse Factors

On Tuesday 15 December, in the face of strengthening restrictive measures in a number of Western countries, oil gained about 1.1 percent in price. Moreover the news of continued growth in the production of oil in Libya puts pressure on the prices. The weakening of the OPEC global oil demand forecast by 350 thousand barrels per day in 2021 is also worth remembering. At close, crude futures from February Brent traded up by 0.93 percent at $50.26, while crude futures from January WTI were up 1.3 percent at $47.62. Furthermore the Libyan national oil company NOC announced on Monday a
Equity News

Oil Prices Rose Hoping Economic Recovery, Discussions Continue On Stimulus Plan

In the oil sector, in the expectation of an economic rebound in 2021 thanks to anti-Covid-19 vaccinations, optimism continues to lift prices. U.S. light crude oil (WTI) eventually held up well with the January Nymex contract adding up 2.8 percent to $46.78 a barrel. The Brent delivery in January contract ended up 2.8 percent at $50.25 per barrel, for the first time in 9 months, moving back over the $50 mark. In Washington, speculation persists about the prospect of implementing a new support package, planned for the end of next week for the Covid-19 crisis prior to the end of
Market Activity

U.S. Indices Closed In Green With New Records

The U.S. indices ended the trading session in positive territory on Tuesday, December 8, after the Food and Drug Administration (FDA) released first scientific evaluation, setting the stage for the government to give a go ahead to the Covid-19 vaccine developed by Pfizer and BioNTech for emergency use in the United States. The United Kingdom has already begun mass use of this vaccine on Tuesday. However the worsening of the pandemic situation in the country is of concern to U.S. investors. About 14.9 million cases of coronavirus infection have been detected in the United States since the beginning of the
Equity News

Oil Prices Fell On Monday – Investors A Bit Worried About Lifting Sanctions On Iran

Oil prices which began to rise on Friday have weakened by the background details on Monday. WTI dropped by -1.08% while Brent fell -0.93% to settle at $45.76 to $48.79 respectively. Baker Hughes’ weekly figures appear to show a rise in drilling activity in the United States. The number of active rigs increased to 246 rigs last week (+5 rigs). Canada also saw an increase by 2 installations to 40 active installations. In the United States and Canada, the number of active gas installations has declined by 4. The number of rigs, as an indication of potential demand, suggests a

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Market Activity

U.S. Indices Remained In Green On Thursday, Mass Vaccination In New York To Start On December 15

On Thursday December 3, in the hope of progress in negotiations on a new stimulus package, the key U.S indices showed positive dynamics. Safe haven assets also came up with positive traits on the day with gold and US Treasury bonds added more to their values. The larger Standard & Poor’s 500 index was stable at -0.06 percent to 3,666.72 points, the blue-chip Dow Jones Industrial Average increased by 0.29 percent to 29,969.52 points, while the NASDAQ Composite index of high-tech industries was up 0.23 percent at 12,377.18 points. WTI light crude futures rose 0.8 percent to $45.64 per barrel.

Investchronicle.com is an Economic news website, which offers broad information about the Stock markets and Equities. The major emphasis of this platform is to present, the most practical recommendation for public and private capital sharing, both in the form of updates and detailed analysis.
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