Monday , September 24 2018
Home / Commodity Blog / Crude Oil & Gold Decline During Thursday’s Trading

Crude Oil & Gold Decline During Thursday’s Trading

Summary:
Crude oil fell today as concerns about the US-China trade war intensified. China announced additional 25% on  billion of US goods in response to the announcement from Washington about tariffs on  billion of Chinese goods. Traders tend to hurt economic growth, and as a result are harmful to growth-dependent commodities, like crude. Futures for delivery of WTI crude oil in September dropped 0.13% to .85 per barrel on NYMEX. October contract for Brent grade of oil declined 0.26% to .09 per barrel on ICE. Prices for gold declined as well due to the broad-based strength of the US dollar. Bullion failed to profit from fundamentals that looked supportive to the commodity like the trade wars and stagnating producer inflation in the United States. Contract for delivery of gold

Topics:
Vladimir Vyun considers the following as important: , ,

This could be interesting, too:

Vladimir Vyun writes Different Fundamentals Lead to Disparity in Performance of WTI & Brent Grades

Andrew Moran writes Gold Falls on Firm Dollar, Poised for First Weekly Gain in a Month

Joseph Y. Calhoun writes Monthly Macro Monitor – September

Andrew Moran writes US Crude Climbs Above As Domestic Supplies Fall

Crude oil fell today as concerns about the US-China trade war intensified. China announced additional 25% on $16 billion of US goods in response to the announcement from Washington about tariffs on $16 billion of Chinese goods. Traders tend to hurt economic growth, and as a result are harmful to growth-dependent commodities, like crude. Futures for delivery of WTI crude oil in September dropped 0.13% to $66.85 per barrel on NYMEX. October contract for Brent grade of oil declined 0.26% to $72.09 per barrel on ICE.

Prices for gold declined as well due to the broad-based strength of the US dollar. Bullion failed to profit from fundamentals that looked supportive to the commodity like the trade wars and stagnating producer inflation in the United States. Contract for delivery of gold in December fell 0.09% to $1,219.9 per ounce on COMEX today. Silver managed to avoid losses as December futures advanced 0.21% to $15.47 per ounce.

If you have any questions and comments on commodities today, use the form below to reply.


Commodity Blog, 2018. | Permalink | No comment | Add to

Better Feed from Ozh

Vladimir Vyun
Vladimir is an online journalist with background in computer science and work experience in pension funds. He contributes news reports, fundamental analysis and sentiment forecasts to TopForexNews.com and CommodityBlog.com. His main specialization is the currencies of emerging economies and inter-market correlations with commodity and bond trading.

Leave a Reply

Your email address will not be published. Required fields are marked *