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U.S. shale producers are taking advantage of the oil market’s rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. US CRUDE futures this month jumped above $50 a barrel to the highest since February. The rally has sparked optimism among shale companies, butRead More
Gold was down on Thursday morning in Asia, with investors awaiting details on U.S. President-elect Joe Biden’s plans for further stimulus measures. Gold Futures were down 0.85% at $1,839.20 by 12:16 M ET (5:16 AM GMT). U.S. Treasury yields and the dollar both saw rebounds on Thursday. Benchmark ten-year Treasury yields rose to hover near ten-month highs,Read More
Oil prices steadied after an early jump on Wednesday as industry data showing a bigger-than-expected drop in U.S.CRUDE inventories, but rising global COVID-19 infections capped price gains. BRENT CRUDE prices were down 4 cents at $56.54 a barrel by 1032 GMT. Prices rose to a session high of $57.42 a barrel earlier in the session, the highestRead More
Gold was down on Tuesday morning in Asia, declining slightly as a firmer dollar and high Treasury yields outweighed U.S. political uncertainty and rising numbers of COVID-19 cases globally. Gold Futures inched down 0.03% at $1,850.20 by 11:05 PM ET (4:05 AM GMT). Benchmark Treasury yields continued at 10-month highs as investor prepare for higher government spendingRead More
Brent Crude Oil prices fell as much as $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns across the globe, as well as a stronger U.S. dollar. Brent was down 80 cents, or 1.4%, at $55.19 a barrel at 1010 GMT, after falling $1 to a sessionRead More
Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia’s pledge to cut output continued to buoy market sentiment. Brent Crude climbed 13 cents, or 0.2%, to $54.51 a barrel by 0531 GMT. It touched $54.90 on Thursday, the highest since February. U.S. West TexasRead More