Gold prices traded near a six-week high on Monday, supported by a weaker dollar and expectations that the Federal Reserve could cut interest rates at its meeting later this month. Spot gold was up 0.5% at $4,249.05 an ounce by 07:49 ET, after reaching a six-week high of $4,256.2 earlier in the day. U.S. gold futures for February rose 0.7% to $4,283.25 an ounce. Gold prices jumped more than 4% last week. The U.S. dollar index, which tracks the greenback against a basket of currency pairs, briefly slipped to a two-week low on Monday. This has helped make bullion more attractive for foreign...
Oil rose as a key pipeline linking Kazakh fields to Russia's Black Sea coast halted loading after one of its three moorings was damaged in an attack over the weekend. Brent traded near $63 and earlier rose as much as 2.3%. The Caspian Pipeline Consortium carries most of Kazakhstan's crude exports, which have averaged 1.6 million barrels a day so far this year. Following the explosion, the mooring is severely damaged, a person with knowledge of the matter said. CPC said in response to questions about the damage that "any further operations are impossible" at the mooring,...
Oil prices rose as a major pipeline connecting Kazakhstan's fields to Russia's Black Sea coast halted loading after one of its three berths was damaged by a Ukrainian attack in the region over the weekend, while traders assessed the potential for a U.S. military operation in Venezuela alongside expectations of oversupply. West Texas Intermediate oil prices traded above $59 on Monday and had previously risen as much as 2.4%. The Caspian Pipeline Consortium carries the bulk of Kazakhstan's crude exports, which have averaged 1.6 million barrels per day so far this year. The berth was severely...