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Oil Price Risen For OPEC Commitments, Gold Also Rebound

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Oil prices on Friday finished the week at a higher note, supported by expectations of recovery and OPEC’s comments, promising to continue its supply management efforts. To continue to deflate global supplies and boost prices, the group of oil-producing countries plans to keep the production of oil below demand this year. On the Nymex, the […]

Oil Prices Advanced Further, Helped By The OPEC Forecast And API Data

On Wednesday, February 3, after updating ten-month highs a day earlier, oil futures continued the trend. The cause for optimism was OPEC+’s prediction that the oil market would remain in deficit throughout 2021, with the effect that the accumulated reserves in oil storage facilities will begin to decrease. In comparison, figures from the American Petroleum […]

Oil Slipped While Gold Picked A Bit

After the rally which pushed prices to the highest level since January 2020, before the coronavirus crisis, oil markets paused on Wednesday. For the fifth week in a row, the news of a further fall in weekly U.S. crude inventories was not enough to boost rates. U.S. light crude WTI (February futures contract on Nymex) […]