Commodities

The EIA disclosed that oil inventories decreased by 1.9 million barrels
11:01 AM Kuwait crude oil rises 70 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil added 70 cents to settle at $59.88 per barrel (pb) on Wednesday compared to $59.18 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices declined …
Gold prices surged by 0.8% on Wednesday
12:49 AM Gold prices rise $10 on Wednesday
Mubasher: Gold prices increased by more than $10 during Wednesday’s trade. The precious metal futures went up by 0.8% to 1292.2 per ounce. Gold gains were supported by the decline of the US dollar on the back of macroeconomic data.
Nymex futures jumped 2.1% on Wednesday
12:37 AM Nymex above $58 for 1st time since mid-2015
Mubasher: Oil prices saw significant increase at the end of Wednesday’s trade, as Nymex reached its highest level in two years, after data revealed a decline in US oil stockpiles. Nymex futures for January delivery rose by 2.1% to the level of …
Saudi Arabia is the biggest producers among OPEC members
22 November 06:12 PM Saudi Arabia aims at extending OPEC deal to 2018-end
Riyadh - Mubasher: Saudi Arabia is said to be pushing for a nine-month extension of the oil production cut agreement, which will expire in March 2018, Reuters reported on Wednesday citing industry sources. The Organization of the Petroleum …
JPMorgan Chase Tower in Houston, Texas
22 November 05:48 PM Commodities to see bad year in 2018 - JPMorgan
Mubasher: A recent report by JPMorgan Chase is expecting commodity returns to face more poor performance in 2018, as reported by Bloomberg. Analysts noted that in order for traders to make money that will need to pick assets, such as agriculture, …
Global oil prices increased on Tuesday in line with the anticipation for the OPEC meeting
22 November 12:31 PM Kuwait crude oil adds 4 cents Tuesday – KPC
Mubasher: The price of Kuwaiti crude oil on Tuesday gained 4 cents to settle at $59.18 per barrel (pb) compared to $59.14 pb on Monday, according to the Kuwait Petroleum Corporation (KPC) latest data. At the global level, oil prices increased on …
Nymex futures went up by 0.7% to $56.83 per barrel
21 November 11:52 PM Oil prices rise amid anticipation for US oil stocks
Mubasher: Oil prices increased on Tuesday, with a growing anticipation for the next OPEC summit, and the initial weekly data on the US oil inventories. Nymex futures for January delivery increased by around 0.7%, settling at the level of $56.83 …
Oil prices declined in line with the anticipation for the OPEC meeting
21 November 11:01 AM Kuwait crude oil rises 70 cents – KPC
Mubasher: The price of Kuwait’s crude oil increased by 70 cents to settle at $59.14 per barrel (pb) on Monday compared to $58.44 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
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21 November 12:29 AM Eni, BP interested in Iraq’s Majnoon field
Mubasher: The UK’s BP and Italy’s Eni have expressed their interest in developing the giant Majnoon oil field in Iraq, Reuters reported on Monday. Other oil companies are also keen on developing the field, which Royal Dutch Shell plans to leave …
Gold declined by more than $21 on Monday
21 November 12:26 AM Gold prices down 1.6% as USD rises
Mubasher: Gold prices dropped 1.6%, as the US dollar rose supported by the uncertainty regarding negotiations for forming a new government in Germany. The price of gold futures for December delivery lost more than $21.2 and reached $1,275.3 per …
Nymex futures reached $56.09 per barrel
21 November 12:22 AM Oil prices down Monday
Mubasher: Oil prices fell on Monday, amid a growing anticipation of the Organization of the Petroleum Exporting Countries (OPEC) summit, which will take place on 30 November. Nymex futures for December delivery fell 0.8% to the level of $56.09 per …
Saudi crude imports registered 6.55 million barrel per day in September
20 November 07:03 PM Saudi oil imports down to 79M low - JODI
Riyadh - Mubasher: The Joint Organisations Data Initiative (JODI) revealed that Saudi oil imports declined to 6.55 million barrel per day, compared to 6.71 million barrels per day in August. Data showed that in September Saudi crude imports …
Kuwaiti crude registered $58.44 per barrel on Friday
18 November 08:39 PM Kuwaiti oil down 36 cents
Mubasher: The price of Kuwait oil went down by 36 cents on Frinday, according to the Kuwait Petroleum Corporation (KPC). Yesterday, Kuwaiti crude registered $58.44 per barrel, compared to $58.80 per barrel on Thursday, Kuwait News Agency (KUNA) …
Global oil prices decreased on Wednesday
16 November 02:24 PM Kuwait crude oil drops 94 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil declined by 94 cents to settle at $58.54 per barrel (pb) on Wednesday from $59.48 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices decreased …
Oil prices reached two-year high last week
15 November 11:57 PM Oil prices down fourth day in row
Mubasher: Oil prices declined on Wednesday, due to the unexpected rise in US stockpiles, signaling an end to an upwards rally in crude prices last week. Nymex futures went down by 0.7% to the level of $55.33 per barrel, its lowest close in nearly …
Gold futures registered $1,277.7 per ounce on Wednesday
15 November 11:51 PM Gold down first time in 4 days
Mubasher: Gold prices declined on Wednesday, for the third consecutive session, as the US dollar saw a mixed performance. The precious metal futures declined by around 0.4% to the level of $1,277.7 per ounce, after rising for two days in a row. …
Recently a number of natural gas reserves were discovered in the eastern Mediterranean
15 November 09:21 PM Lebanon aims at joining world’s petroleum club
By: Moslem Ali Cairo - Mubasher: Lebanon is facing a lot of economic and political challenges, according to the director general of the Lebanese Ministry of Finance (MoF). Faced by internal and regional crises, the country was still able to …
Oil reserves decreased by 23.6 million barrels in September
14 November 02:59 PM Kuwait crude oil down 48 cents Monday – KPC
Mubasher: The price of Kuwait crude oil decreased by 48 cents to settle at $60.09 per barrel (pb) on Monday compared to $60.57 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, the …
13 November 11:34 PM Gold up 0.4% on Monday
Mubasher: Gold prices rose on Monday, amidst a mixed performance by the US dollar. Gold futures rose by 0.4% to the level of $1,278.9 per ounce. The precious metal was supported by the possibility of a delay in the tax reforms proposed by US …
13 November 07:27 PM OPEC production down 151,000 bpd in October
Mubasher: Production by the Organization of the Petroleum Exporting Countries (OPEC) declined by around 151,000 barrels in October, compared to the previous month. OPEC members’ production reached 32.59 million barrels per day (bpd), decreasing by …
The project comprises 346 serviced residences
13 November 05:45 PM Azizi Developments to deliver AED 350m project by Q3-18
Dubai – Mubasher: Azizi Developments on Monday announced that its AED 350 million project, Azizi Aliyah Residences, is scheduled to be completed in the third quarter of 2018. The project comprises 346 serviced residences, including 191 studios, …
Kuwaiti crude oil registered $60.57 per barrel on
11 November 07:21 PM Kuwait oil up to $60.6
Mubasher: The price of Kuwait oil rose by 26 cents on Friday, according to the Kuwait Petroleum Corporation (KPC). Kuwaiti crude registered $60.57 per barrel on Friday, after closing Thursday at $60.31 per barrel, Kuwait News Agency (KUNA) …
Omani crude oil registered $62 per barrel
11 November 07:17 PM Oman oil prices up $0.4
Mubasher: The price of Omani oil futures for January delivery rose by 40 cents, as shown by the data of the Dubai Mercantile Exchange (DME). On Friday, Omani crude oil registered $62 per barrel, compared to $61.60 per barrel on Thursday.
Nymex prices maintained highest level since mid-2015
8 November 01:46 AM Oil prices decline for 1st time in 4 days
Mubasher: Oil prices declined by the end of Tuesday’s trade, for the first time in four sessions, after reaching its highest level in two and a half years, amid expectations of a higher US shale oil production. Nymex futures went down 0.3% to …
Gold futures $1,281.6 per ounce
6 November 11:47 PM Gold prices rise 1% Monday
Mubasher: Gold prices rose on Monday to its highest close in six weeks, as the US dollar saw a mixed performance while oil prices surged to its highest level in two and a half years. Gold futures went up 1%, increasing by $12.40 and closing at …