Category: Commodity

Oil prices extend gains as demand outlook offsets India concerns

By Administrator_ India Capital Sands Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising COVID-19 cases in India, Japan, and Brazil. Brent crude for June edged up 8 cents, or 0.1%, to $67.35 a barrel by 0104 GMT while U.S. West Texas Intermediate crude for […]

Oil tumbles with bearish market structure showing weak demand concern

By Administrator_India Capital Sands Oil slumped as a string of renewed lockdown measures in Europe stoked concerns about the demand outlook while the market’s underlying structure shifted to indicated near-term weakness. Futures in New York and London fell as much as 5 percent, with the prompt spread on both flipping into contango. Concerns are re-emerging over the prospects for a […]

Gold Steady Near Four-Month High Amid Fed Inflation Comments

Gold rises on inflation worries after US stimulus approval

By Administrator_ India Capital Sands Gold prices gained on Monday as the passage of a U.S. stimulus bill stoked inflation risks, although a resultant bounce in Treasury yields kept gains in check. FUNDAMENTALS * Spot gold rose 0.3% to $1,732.02 per ounce by 0134 GMT, while U.S. gold futures for April delivery rose 0.7% to $1,730.90 per ounce. * Yields […]

Oil Surges as Investors Bet Commodity Demand to Take Off

By Administrator _India Capital Sands Oil surged as traders and investment banks see global supplies rapidly tightening in response to a vaccination-led recovery this summer. Futures in London jumped 3.7% on Monday, its largest daily gain since early January, as a range of bullish calls and upward revisions to price forecasts, boosted optimism over oil demand. Goldman Sachs Group Inc […]

Gold

Gold Up Over Cautious Stimulus Hopes

By Administration_ India Capital Sands Gold futures inched up 0.01% at $1,870.50 by 10:47PM ET (3:47 AM GMT). U.S. President Donald Trump said on Tuesday that he may not sign a COVID-19 bill passed by both the House of Representatives and the Senate on Monday. He called the bill an unsuitable “disgrace,” but stopped short of threatening to veto the legislation. […]

Oil Down, Rise in COVID-19 Cases Leads to Fuel Demand Worries

By Administrator_ India Capital Sands Oil was down on Friday morning in Asia, with ever-rising numbers of COVID-19 weighing on fuel demand and the U.S. Congress continuing negotiations for a $900 billion economic stimulus bill. Brent oil futures were down 0.23% to $51.38 by 11:02 PM ET (4:02 AM GMT) and WTI futures inched down 0.04% to $48.34. Both Brent and WTI futures […]

Oil prices drop on US stock build, delay in OPEC+ meeting

By Administrator_ India Capital Sands Oil prices extended losses on Wednesday, hit by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January. Brent crude oil futures were down by 27 cents, or 0.6%, at $47.15 a […]

Oil Continues Rise on Vaccine, Stockpile News

By Administrator _India Capital Sands Oil was up on Wednesday morning in Asia, with gains of over 11% in the last two days. Prices have been buoyed by positive COVID-19 vaccine news and encouraging U.S. stockpile data. Brent oil futures rose 0.92% to $44.01 by 11:45 PM ET (3:45 AM GMT) and WTI futures jumped 1.06% to $41.80. Oil has continued its recent […]

Oil prices decline with OPEC+ warning of precarious market outlook

By Administrator _ India Capital Sands Oil extended declines as Opec+ warned of a precarious outlook for the market while a resurgent virus hits consumption. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, speaking at the coalition’s committee meeting on Monday, called on the group to be proactive in the face of uncertain demand. The comments are strengthening expectations that Opec and […]

Oil glut trade on brink of a return; Brent crude falls below $40

By Administrator_India Capital Sands The combination of a stalling Asian demand recovery, the end of the US summer driving season, and increased supply from the Opec+ alliance are signaling a bleak short-term outlook for oil prices. The global Brent crude benchmark is currently trading quite deeply in a bearish pattern known contango, where the most immediate prices are far below those […]