Oanda

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Oil falls 1% as weak China exports highlight trade war impact; Beijing hopes for agreement with US
Business

Oil falls 1% as weak China exports highlight trade war impact; Beijing hopes for agreement with US

The oil price drop also put an end to a strong run in previous sessions fuelled by hopes for the OPEC+ production curb deal.

Oil rises, US crude trading near two-month high after OPEC agrees to increase output curbs by nearly 50% in early 2020
Business

Oil rises, US crude trading near two-month high after OPEC agrees to increase output curbs by nearly 50% in early 2020

West Texas Intermediate oil futures were up by 2 cents at $58.45 a barrel. They rose to as high as $59.12 a barrel on Thursday, the highest since the end of September.

Oil hits six-week high on hopes of extended OPEC output cuts; Saudi Arabia firm on crude production curbs
Business

Oil hits six-week high on hopes of extended OPEC output cuts; Saudi Arabia firm on crude production curbs

US oil gained more than 2% on Monday, while Brent finished the day 1.7% higher as the market reacted to the appointment by Saudi Arabia’s king of his son, Prince Abdulaziz bin Salman, as energy minister on Sunday.

Crude oil prices hover close to 2019 highs on OPEC output cuts, US sanctions against Iran and Venezuela
Business

Crude oil prices hover close to 2019 highs on OPEC output cuts, US sanctions against Iran and Venezuela

Brent crude oil futures were up 20 cents at $67.74 per barrel, also close to this year’s peak of $68.14 marked late last week.

Gold climbs to six-month peak on global growth concerns, govt shutdown in US; silver, platinum rise too
Business

Gold climbs to six-month peak on global growth concerns, govt shutdown in US; silver, platinum rise too

Spot gold climbed 0.3 percent to $1,271.85 per ounce. The metal hit $1272.56 in early trade, its highest since 20 June.