USO•Saudi Arabia raised crude oil output by 26%, potentially pressuring prices if global supply expands while demand weakens. Central banks bought 321 tonnes of gold in the third quarter, their strongest quarterly buying since the fourth quarter of 2024.
Saudi Arabia raised crude oil output by 26%, potentially pressuring prices if global supply expands while demand weakens. Lower crude prices could ease costs for oil importers but reduce petroleum export earnings for countries such as Nigeria.
Central banks purchased 321 tonnes of gold in the third quarter, their strongest quarterly buying since the fourth quarter of 2024. Sustained demand could support gold prices as monetary authorities diversify reserves amid geopolitical uncertainty, inflation concerns and currency volatility.
