Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles pressured the market. Brent futures were up 34 cents, or 0.5%, at $76.38 a barrel by 1407 GMT. U.S. West Texas Intermediate crude rose 26 cents, or 0.4%, to $72.51. U.S. crude stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures on Wednesday. [API/S] Oil prices edged lower on Thursday because of the stock build in the U.S., said Saxo Bank analyst Ole Hansen. "The...
Oil prices closed higher on Thursday, marking a third straight day of gains, after data showed a decline in U.S. gasoline and distillate draws, while concerns about supply disruptions in Russia also supported prices. Brent crude futures settled up 44 cents, or 0.58%, at $76.48 a barrel. U.S. West Texas Intermediate (WTI) crude for March delivery rose 32 cents, or 0.44%, to $72.57. The more actively traded April WTI contract rose 0.35% to $72.50 a barrel. U.S. crude stockpiles rose slightly more than expected while fuel inventories fell last week as seasonal refinery maintenance led to...
Gold prices pared some gains on Thursday after hitting another record high, but remained supported by a weaker dollar on concerns about the economy and U.S. tariffs. Spot gold rose 0.1% to $2,937.13 an ounce, but had hit a record high of $2,954.89 an ounce earlier in the session. Gold futures expiring in April rose 0.5% to $2,951.10 an ounce. Concerns over Trump's trade policies hit risk-driven markets on Thursday, boosting demand for safe-haven assets such as bullion and the yen. Uncertainty over U.S. policy has been a major driver of gold's recent gains. Other precious metals also...