Oil prices rose as U.S.-Russia talks have so far failed to reach a deal to end Moscow's war in Ukraine, raising concerns that Russian oil supply curbs could continue for longer. West Texas Intermediate crude oil prices traded near $59, up 1.7%, while remaining within the tight range prices have maintained for the past several sessions. The Kremlin said President Vladimir Putin held "very fruitful" talks with U.S. envoys Steve Witkoff and Jared Kushner, although no compromise was reached on the crucial issue of territorial control. The talks come amid recent attacks on tankers linked to...
Gold prices held steady on Wednesday (December 3), boosted by weak private payrolls data that reinforced expectations of a US interest rate cut next week, while silver hit a new record high. Spot gold was little changed at $4,202.06 an ounce at 2:03 PM ET (19:03 GMT), after hitting a session high of $4,241.29 earlier in the session. U.S. gold futures for February delivery closed 0.3% higher at $4,232.50. Silver held steady after hitting a record high of $58.98 earlier in the session. "The ADP data miss this morning, coupled with silver hitting an all-time high overnight," is supporting...
Oil prices rose on Wednesday (December 3) after the US and Russia failed to reach a deal to end the war in Ukraine that would have eased sanctions on Moscow's oil sector, although gains were tempered by concerns about oversupply. Brent crude closed up 22 cents, or 0.4%, at $62.67, while U.S. West Texas Intermediate crude rose 31 cents, or 0.5%, to $58.95. Both contracts fell more than 1% in the previous session. U.S. crude, gasoline, and distillate stocks rose last week, the Energy Information Administration (EIA) said on Wednesday, adding to concerns about oversupply. Crude inventories...