WTI Oil Trades Near One-Week High as Cushing Stockpiles Decline

West Texas Intermediate traded near the highest price in more than a week after crude supplies at the delivery point for the benchmark U.S. contract dropped to the lowest level since 2008.Futures were little changed in New York after advancing 1.3 percent yesterday, the most in a month. Crude stockpiles at Cushing, Oklahoma, the biggest oil-storage hub in the U.S., shrank by 1.4 million barrels to 24 million last week, the Energy Information...

Gold Falls Most in Three Weeks on Outlook for Fed Stimulus Taper

Gold futures fell the most in three weeks on speculation that the Federal Reserve will further curb monetary stimulus as the U.S. economy recovers, crimping demand for the metal as an alternative investment. Policy makers trimmed bond purchases for the fourth consecutive meeting last week. œSufficient underlying strength made the reductions œappropriate, Fed Chair Janet Yellen said today at a hearing of the congressional Joint Economic...

Dollar Rises From Six-Month Low as Yellen Cites Solid Growth

The dollar rose from a six-month low against a basket of peers as Federal Reserve Chair Janet Yellen said the U.S. economy is poised for growth.The euro traded at almost a seven-week high before the European Central Bank is forecast to refrain from adding additional monetary stimulus at a meeting tomorrow. The U.S. currency strengthened as Yellen told a congressional panel that...

WTI Rises for Second Day as Crude Stockpiles Drop; Brent Climbs

West Texas Intermediate advanced for a second day after an industry report showed crude stockpiles declined in the U.S., the world��s biggest oil consumer. Brent gained in London as the U.S. considered further sanctions on Russia. Futures rose as much as 1.1 percent in New York. Total U.S. crude inventories shrank by 1.82 million barrels last week as supplies slid at Cushing, Oklahoma, the delivery point for WTI, the American Petroleum...

Gold Futures Drop for Second Straight Day as Dollar Rebounds

Gold futures fell for the second straight day as a rebound by the dollar crimped demand for the precious metal as an alternative asset. The greenback rose for the first time in four sessions against a basket of 10 currencies. Yesterday, the gauge touched a six-month low. Gold has gained 8.3 percent this year as the dollar dropped 1.5 percent. Federal Reserve Chair Janet Yellen...