Commodities
Oil prices fell on Friday amid reports that Russia's oil shipments increased in January despite ongoing sanctions.
- Brent crude was down 0.9% on Friday and 0.04% for the week.
- U.S. West Texas Intermediate crude lost 1.6% on Friday and 2% on the week.
- According
to a Reuters report, exports of Russian oil from Baltic ports are set
to rise by 50% in January from a month earlier among strong demand from
Asian countries.
- The current COVID-19 surge in China appears to
be subsiding, with critical cases down 72% from the start of January
and a 79% decrease in the number of deaths among hospitalized patients.
These numbers suggest that oil demand could increase in China.
| Oil (NYSEARCA:OIL) | 30.21 | -1.94% |
| Gold (NYSEARCA:GLD) | 179.22 | -0.14% |
| Silver (NYSEARCA:SLV) | 21.68 | -1.41% |
| Corn (NYSEARCA:CORN) | 26.54 | -0.15% |
| Lumber (NASDAQ:WOOD) | 78.10 | -0.27% |
*Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities,
