Saudi Arabia will not balance oil market on its own

Source: Bloomberg
The head of Saudi Arabian Oil Co. stated that Saudi Arabia will not balance global oil markets single-handedly, since prices decline "too low for everybody". This also threatens the investment that is needed in order to meet long-term demand. The OPEC decided to keep its production target the same during the November 27 meeting to protect market share.
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Tue, 27 Jan 2015 22:38:05 GMT

Gold futures rise when US durable-goods orders drop

Yellow metal futures climbed while US durable goods slumped as a result of flagging growth in foreign economies that weighs on the US recovery, thus boosting attractiveness of high-quality assets. Bullion futures for April settlement advanced 0.6% to $1,287.80 an ounce as of 9:20 a.m. in New York on the Comex. 

Tue, 27 Jan 2015 22:16:07 GMT

Dollar depreciates after durable goods drop

The Dollar depreciated from its strongest point on record, when US durable goods orders dropped 3.4% in December. The greenback weakened versus most of its major peers, and the Bloomberg Dollar Index declined 0.5% to 1,156.24 by 8:58 a.m. in New York, closing at the record 1,161.42 on January 26.

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