Oil prices fell on Thursday after a surprise jump in US gasoline inventories, with investors focused on an OPEC+ meeting later this week to discuss oil output policy. Brent crude futures were down 14 cents, or 0.2%, at $72.69 a barrel by 0401 GMT, while U.S. West Texas Intermediate crude futures were also down 14 cents, or 0.2%, at $68.58 a barrel. Trading is expected to be thin as the U.S. Thanksgiving holiday begins on Thursday. Oil prices are likely to maintain their near-term bearish momentum as risks of supply disruptions fade in the Middle East and from higher-than-expected U.S....
Silver prices dropped below $30 an ounce on Thursday, hitting 11-week lows as demand for the metal's safe-haven appeal waned and the outlook for its industrial usage weakened. The recent ceasefire between Israel and Hezbollah, brokered by the US and France, alleviated geopolitical tensions, reducing silver's appeal as a risk-off asset. Additionally, expect that the US Federal Reserve may adopt a more cautious stance on interest rate cuts weighed on silver prices. Economic uncertainty in China, the world's largest silver consumer, and concerns over the potential negative impact of US...
Oil prices were flat on Thursday after a surprise jump in U.S. gasoline inventories and postponement of the OPEC+ meeting on output policy to Dec. 5 from Dec. 1. Brent crude futures edged up by 8 cents to $72.91 a barrel by 0955 GMT while U.S. West Texas Intermediate crude futures were up 7 cents at $68.79. Trading is expected to be light because of the U.S. Thanksgiving holiday on Thursday. OPEC+, comprising the Organization of the Petroleum Exporting Countries and allies including Russia, delayed its weekend meeting to avoid a conflict with another event, the producer group said. The...