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Tuesday, July 7, 2020
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Commodity company and market news.

Grocery stores have been overrun day after day since the coronavirus pandemic began. While consumers have been flocking in record numbers to shop for staples, demand by restaurants and others in the foodservice industry has been down. Add to the mix concerns over labor shortages on U.S....
Saudi Aramco shares traded beneath its original IPO pricing for the first time on Sunday. The Saudi state’s oil conglomerate was down 6.36 percent and was trading at $8.24, or 30.90 riyals. During its IPO in December, Saudi Aramco’s listing price was 32 riyals.
Gold topped $1,600 on Tuesday, the highest level seen since 2013. Investor worries about the coronavirus weighed in as the epidemic has placed pressure on the stock market and investors are seeking safe havens. Carsten Fritsch, a Commerzbank analyst, said: “Gold is finding buoyancy...
Thanks to higher trading on Thursday, Saudi Aramco became the world’s first company to have a valuation of $2 trillion. For the second day in a row, stocks were 10 percent higher for the Saudi Arabian oil company, before finally losing some of its gains. 
Oil prices dropped on Friday ahead of an OPEC meeting, which some analysts predict will see an extension of output cuts until the middle of next near. U.S. crude fell more than 4 percent amid new trade tensions and a record-high crude production in the U.S. Nonetheless,...
Two days after an attack on Saudi Arabia’s oil installations, Brent crude oil futures rose by 19.5 percent to $71.95 a barrel, its biggest intraday jump to date.  Once President Trump announced that he was authorizing the release of oil reserves from the Strategic...
U.S. consumers should be prepared for oil prices to rise after an Iranian oil attack on Saudi Arabia’s oilfields cut output down to 50 percent. On Saturday, 10 drones attacked one of the largest oilfields in Hijra Khurais. A crude processing facility in Abqaiq...
U.S. crude stocks climbed to their highest levels since September 2017 on Wednesday, owing to record-high production. Crude inventories in the U.S. rose to just over 470 million barrels. Last week, U.S. crude inventories surpassed expectation when the supply increased by 9.9 million barrels....
Commodities were the hottest asset class traded during the first quarter of this year and investors took note. This is because commodities didn’t fare well towards the end of last year when the energy market collapsed amongst the escalated China and U.S. trade war.
Top global banking, investment, and securities management firm, Goldman Sachs, recommends caution when investing in commodities. The company says the recent rally surrounding commodities is likely near an end. The financial services group says data from long oil and metals should be carefully analyzed before investors make...