Oil Prices Rise, Gasoline Prices Remain Stable
Benchmark U.S. crude oil for September delivery saw a slight increase of 37 cents, reaching $83.19 a barrel on Friday. Similarly, Brent crude for October delivery rose by 41 cents, settling at $86.81 a barrel. This rise in oil prices can be attributed to various factors impacting the global oil market.
On the other hand, wholesale gasoline prices for September delivery experienced a modest increase of 6 cents, reaching $2.96 per gallon. However, September heating oil saw a decrease of 3 cents, at $3.12 per gallon. September natural gas prices witnessed a slight increase of 1 cent, reaching $2.77 per 1,000 cubic feet.
In the precious metals market, gold prices for December delivery dropped by $2.30, settling at $1,946.60 an ounce. Likewise, silver prices for September delivery fell by 8 cents, reaching $22.74 an ounce. September copper prices also witnessed a decline of 5 cents, settling at $3.72 per pound.
In the currency market, the dollar showed a slight increase against the Japanese yen, rising to 144.97 yen from 144.72 yen. Conversely, the euro dipped to $1.0951 from $1.0990, showcasing a decrease against the dollar.
These fluctuations in commodity prices are impacted by various factors such as global supply and demand dynamics, economic indicators, geopolitical events, and the overall market sentiment. Investors and traders carefully monitor these price movements to make informed decisions in the respective markets.
