Oil prices fell on Thursday, after suffering heavy losses yesterday, as global Brent crude futures fell 2.42% to $71.68 a barrel.
According to Bloomberg data, “US West Texas Intermediate crude futures were traded at $67.93 per barrel, down 2.53% from the previous closing price.”
In yesterday’s trading, Wednesday, Brent contracts were traded below $71 per barrel, for the first time since September 12.
Gold prices stabilized during early Asian trading on Thursday, hovering near historical highs.
According to the data, “Gold recorded a slight increase in spot transactions by 0.2 percent to $2,661.25 per ounce, and recorded an all-time high of $2,670.43 yesterday, Wednesday, while US gold futures settled at $2,684.50.”
As for other precious metals, “spot silver reached $31.85 per ounce, platinum rose 0.8 percent to $995.90 and palladium rose 1.2 percent to $1,048.75 per ounce.”
The yellow metal has jumped about 29 percent so far in 2024 and has hit record highs several times this year.
The dollar steadied on Thursday, after Wednesday’s biggest one-day gain since early June.
The dollar index, which measures the performance of the US currency against the euro, the pound, the yen and three other major currencies, fell by 0.10 percent to 100.84 points, after rising 0.57 percent on Wednesday, recording its biggest daily increase since June 7.
The euro was at $1.1143 after falling sharply from its highest level since July last year, which was $1.1214, and the pound sterling was steady at $1.33425 after rising yesterday to $1.3430 for the first time since February 2022.
The yen also fell to a three-week low of 145.04 against the dollar and was last seen at $144.77, while the Australian dollar rose 0.37 percent to $0.6848 after a sharp decline yesterday from a 19-month high of $0.6908, according to Sky News.
The Chinese yuan gained slightly to 7.0149 against the dollar in offshore trading after retreating on Wednesday from its highest level since May last year at 6.9952, while the Swiss franc was little changed at 0.8498 against the dollar.
Last updated: September 26, 2024 – 10:52
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2024-09-26 18:10:24