Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Oil And Gold Analysis: February 18

ByICM Brokers
Published 02/18/2013, 04:41 AM
Updated 04/25/2018, 04:40 AM
GC
-
SI
-
CL
-
4280
-
CL3H

Iraq and Saudi Arabia cut crude oil exports in December for a second month, while fellow OPEC member Venezuela boosted shipments to their highest in over four years. Iraq, the biggest producer in the OPEC after Saudi Arabia, curtailed exports by 10 percent to 2.35 million barrels a day, The Saudi kingdom shipped 7.06 million barrels a day in the month, down 1.3 percent from November. Venezuela increased crude shipments in December by 19 percent to 1.97 million barrels a day, West Texas Intermediate oil fell after U.S. industrial production unexpectedly shrank and euro- area exports declined the most in five months, raising concern that fuel demand may weaken. Industrial production shrank, and the European data is pressurizing the oil market. Crude hit the wall around $98. That’s a major resistance level, and a line in the sand that everybody is looking at. Crude for March delivery slid $1.45, or 1.5 percent, to settle at $95.86 a barrel.
CL3H
GOLD
Gold has had the worst weekly performance since May, as prices at cheapest in six months lured buyers. Spot gold traded at $1,618.90 an ounce, Gold slumped to $1,598.23 an ounce on Feb. 15 - the lowest level since August. The precious metal held in exchange-traded products shrank by the most since July last week. Cash silver climbed 0.8 percent to $30.0375 an ounce, after slumping to a six-week low of $29.6775 on Feb. 15.
GOLD

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.