Oil Prices
Benchmark U.S. crude oil for August delivery fell 3 cents to $82.82 per barrel on Thursday. Meanwhile, Brent crude for September delivery edged up by 3 cents to $85.11 per barrel.
Gasoline and Heating Oil
In the energy sector, wholesale gasoline for August delivery saw a 2-cent increase, reaching $2.52 per gallon. However, August heating oil experienced a 1-cent decline to $2.49 per gallon. August natural gas showed a notable rise of 9 cents, settling at $2.13 per 1,000 cubic feet.
Precious Metals
Turning to precious metals, gold for August delivery dropped by $3.50 to $2,456.40 per ounce. Silver for September delivery also fell by 15 cents, closing at $30.22 per ounce. Additionally, September copper decreased by 13 cents to $4.28 per pound.
Foreign Exchange Rates
In foreign exchange markets, the dollar strengthened against the Japanese yen, rising to 157.29 from 156.13. Conversely, the euro weakened, falling to $1.0899 from $1.0937.
Additional insight: It is important to note that oil prices are influenced by numerous factors such as global demand, geopolitical tensions, and production levels. Furthermore, fluctuations in the foreign exchange market can impact the overall pricing of commodities like precious metals. Investors often closely monitor these factors to make informed decisions in the financial markets.
