U.S. oil Instant up for 2nd day on record OPEC Gain Cut Consent
U.S. crude oil edged higher for a second day on Tuesday, underpinned by high compliance with OPEC's production cuts even as the market remains anchored by rising U.S. production.The Organization of the Petroleum Exporting Countries (OPEC) has so far surprised the market by showing record compliance with oil-output curbs, and could improve in coming months as the biggest laggards - the United Arab Emirates and Iraq - pledge to catch up quickly with their targets."With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here," ANZ said in a note.West Texas Intermediate crude oil added 11 cents, or 0.2 percent, to $54.16 a barrel by 0337 GMT, while benchmark Brent crude oil added 17 cents, or 0.3 percent, to $56.10 a barrel.For the month, U.S. crude oil is up 2.6 percent after falling in January, while Brent oil has risen marginally.Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day (bpd) from Jan. 1, the first cut in eight years. Russia and 10 other non-OPEC producers agreed to cut around half as much.
Trump's economic policy Investors were looking ahead to an address by Trump to Congress next week for further clarity on his economic pol... read more ...
Silver acts as an inflation hedge, and in times of crisis, small quantities may be used for smaller, daily transactions compared to holding a tradi... read more ...
Gold prices soared by Rs325 to regain the Rs30,000-mark and trade at over 4-month high of Rs30,175 per 10 grams at Delhi bullion market on Saturday... read more ...
its three-week gains at the bullion market, on reduced offtake due to holiday-truncated week despite firm global trend.Marketmen said easing demand... read more ...
Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
But... read more ...
The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week endi... read more ...
Silver Price Equal Off with Notable Support
See the Webinar Calendar for a schedule of upcoming live events with Paul or... read more ...
BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
read more ...