Crude prices recorded increases in the opening session of the week today, Monday, February 6, after declines that exceeded 8% last week, as US crude (NYMEX) is trading at $73.59 per barrel, up by 0.24%, while Brent crude is trading at an increase of 0.44%, at levels $80.29 a barrel, after optimistic statements about the recovery of demand for crude.
Crude prices were affected in the closing session last week by the strong rises of the US dollar, reaching their lowest levels in three weeks, due to the inverse relationship between the dollar and commodity prices.
The statements of the head of the International Energy Agency, Fatih Birol, at the weekend supported the opening of the crude markets. the world .
The yellow metal is below $1900 levels
Despite rising by 0.30% in the opening session of the week today, Monday, the yellow metal continues to trade below $1,900 an ounce, which it lost at the end of trading last week, Friday, for the first time since the first week of January, affected by the US labor market figures at the end of the week, which supported the rises of the US dollar. and US bond yields.
The yellow metal recorded a weekly loss of 2.8% last week, at more than $50, and more than 4% from its highest level during the week.
In addition to profit-taking in the yellow metal after strong declines last week, gold benefits at the beginning of the week from the rise in geopolitical tensions between the United States of America and China, due to the incident of the suspected Chinese spy balloon that was shot down in the United States of America, and the postponement of the upcoming visit of US Secretary of State Blinken to China.
16/05/2024
ابحاث السوق
شارك المقال على منصات التواصل الإجتماعي
