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Oil rises after data shows slump in U.S. output amid Texas freeze

Thursday,   25-Feb-2021   09:05 (IST)

Oil prices climbed on Wednesday to fresh 13-month highs after U.S. government data showed a drop in crude output after a deep freeze disrupted production last week. U.S. crude oil production dropped last week by more than 10%, or 1 million barrels per day, during the rare winter storm in Texas, equaling the largest weekly fall ever, the Energy Information Administration said. Refinery crude inputs dropped to the lowest since September 2008 as the freeze knocked out power to millions. Traffic at the Houston ship channel was slowly coming back to normal but terminals were still facing several is...

Gold eases as firmer U.S. Treasury yields weigh

Thursday,   25-Feb-2021   09:04 (IST)

Gold prices edged lower on Thursday as higher U.S. Treasury yields dented the metal's appeal, although losses were limited by a weaker dollar and Federal Reserve Chairman Jerome Powell's dovis...

Gold gains as Fed Chair Powell defends loose monetary policy

Wednesday,   24-Feb-2021   09:08 (IST)

Gold prices inched higher on Wednesday as Federal Reserve Chair Jerome Powell said the central bank would keep monetary policy accommodative as the U.S. economy still needed support. Spot gold rose 0....

Oil slips after U.S. crude stocks rise amid deep freeze hit to refiners

Wednesday,   24-Feb-2021   09:07 (IST)

Oil prices fell in early trade on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries that wer...

Dollar hits six-week low as focus turns to Powell

Tuesday,   23-Feb-2021   11:18 (IST)

The dollar nursed losses near a six-week low on Tuesday and commodity-linked currencies loitered around multi-year highs, as investors' focus shifted to how U.S. Federal Reserve chief Jerome Powel...

Oil prices jump more than $1 on slow U.S. output restart

Tuesday,   23-Feb-2021   08:51 (IST)

Oil prices jumped by more than $1 on Tuesday, as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week. Shale oil producers in the southern United States could...

Gold hovers near 1-week peak as Treasury yields retreat

Tuesday,   23-Feb-2021   08:50 (IST)

Gold prices hovered near a one-week peak on Tuesday after gaining 1.5% in the previous session, as U.S. Treasury yields retreated, lifting the appeal of the bullion. Spot gold rose 0.1% to $1,809.57 p...

Dollar Edges Higher; Powell Testimony in Focus

Monday,   22-Feb-2021   02:07 (IST)

The dollar edged higher in early European trading Monday, rebounding to a degree after earlier falling to multi-year lows against a number of currencies as vaccine progress prompted optimism on a prom...

Gold rises as dollar eases, higher yields cap gains

Monday,   22-Feb-2021   08:55 (IST)

Gold prices edged higher on Monday to recover from an over seven-month low touched in the previous session as the dollar weakened, although higher U.S. Treasury yields capped bullion gains. Spot gold ...

Oil gains as U.S. production slowly returns after freeze

Monday,   22-Feb-2021   08:55 (IST)

Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandem...