Category Commodities News Today

BP reported a worse-than-expected fall in first-quarter profit on the back of lower oil and gas prices, an outage at a US refinery and “significantly weaker” fuels margins as it also started a $1.75bn share buyback.

Gold prices hit record highs on Monday, pushing past $2,100 an ounce amid expectations of rate cuts.

Saudi Arabia has reportedly won provisional backing for further oil production cuts by the Opec+ group, boosting oil prices to the highest in three weeks ahead of a crucial meeting of the cartel.

Commodity prices continued to rise on Friday, as tensions escalated across the Middle East.

Oil prices surged on Monday after a surprise decision by Opec+ nations to voluntarily cut production.