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Oil prices on track for weekly gain on solid demand outlook

Friday,   14-Jun-2024   08:07 (IST)

Oil prices fell on Friday but were on track for their first weekly gain in four weeks as markets assessed the impact of higher-for-longer U.S. interest rates versus solid outlooks for crude and fuel demand this year. Brent crude futures were down 72 cents, or 0.87%, to $82.04 a barrel at 0100 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 79 cents, or 1%, to trade at $77.84 a barrel, reversing small gains in the previous session. In a see-saw week, oil prices rallied after the Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in g...

Gold holds steady, on track for first weekly gain in four

Friday,   14-Jun-2024   08:05 (IST)

Gold prices held steady on Friday, and were on track for their first weekly gain in four, despite falling over 1 per cent in the previous session after the US Federal Reserve projected just one intere...

Gold prices drop on revised rate-cut bets after Fed verdict

Thursday,   13-Jun-2024   08:31 (IST)

Gold prices fell on Thursday after traders gauged Federal Reserve officials’ updated interest rate projections, which signalled only one US rate cut this year. Spot gold was down 0.5 per cent at...

Oil slips on US growth worries, ample crude supply

Thursday,   13-Jun-2024   08:25 (IST)

Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks...

Gold dips on firmer dollar; US inflation data, Fed policy eyed

Wednesday,   12-Jun-2024   08:40 (IST)

Gold prices edged lower on Wednesday, weighed down by a stronger US dollar, as investors awaited key US inflation data and the Federal Reserve’s updated interest rate projections due later in th...

Gold rush grips Asia despite near-record prices

Wednesday,   12-Jun-2024   08:38 (IST)

Demand for gold in Asia is surging despite prices hovering near the record highs it hit in May, industry officials say, as buyers snap up the metal to hedge against geopolitical and economic uncertain...

Oil prices edge up on optimistic demand outlook

Wednesday,   12-Jun-2024   08:37 (IST)

Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC. Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel at 0016 GMT...

Asia stocks range-bound as EU politics adds new risks

Tuesday,   11-Jun-2024   08:38 (IST)

Asian stocks traded in a narrow range on Tuesday, as investors pondered fresh political uncertainty in European markets after right-wing gains in elections and a snap poll in France revived concerns a...

Oil prices extend rally on potential U.S. crude purchase for reserve

Tuesday,   11-Jun-2024   08:24 (IST)

Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a f...

Gold edges lower as traders eye US inflation data, Fed meeting

Tuesday,   11-Jun-2024   08:13 (IST)

Gold inched lower on Tuesday as investors awaited US inflation data and the Federal Reserve’s policy announcement later in the week, after a stronger-than-expected payrolls report on Friday. Spo...