Categories Finance, LATEST, Markets

Weekend roundup: Oil prices slide, gold gets a lift, dollar struggles

00:15 AM ET, New York: Here’s a roundup of the important market news from the weekend.

OPEC deal hints at output bump, oil prices slide

Over the weekend, Brent crude prices fell at least 1.5% with traders expecting output to climb – something that was discussed in the Vienna HQ of the Organization of the Petroleum Exporting Countries (OPEC) last Friday.

Crude oil rig
Photo Courtesy: Pxhere

The international benchmark, Brent crude futures, fell to about $74.2 a barrel at 03:45 GMT (Monday morning in the time zone), 1.8% lower than the previous close. WTI crude (US West Texas Intermediate) futures slipped 0.3% to $68.4 per barrel with falling US drilling activity.

Picture Courtesy: Pixabay

Gold gets dearer as US-EU tensions gain momentum

The Euro is keeping Dollar at bay, as the US currency finds it harder to hit its 11-month high. The trade tensions between the Union and the US further lifted bullion rates, as spot gold inched 0.3% higher to about $1,271.8 per ounce as of 00:59 GMT (Monday morning in the time zone.)

US President Donald Trump imposed a 20% tariff on all US imports of cars assembled in the EU. As the rest of the world waits for the response from the European Union, dollar-denominated gold saw lower prices than its international counterparts.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,


Add Comment
Viewing Highlight