Commodity Fundamental News: 09.09.2016

Commodity Fundamental News: 09.09.2016

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Gold prices traded in a narrow range in early Asia on Thursday with trade figures regionally in focus led by China.

Gold prices rose slightly in Asia on Thursday after China trade data showed an unexpected gain in imports.

Gold prices struggled for direction in North American trade on Thursday, as investors digested the latest U.S. data as well as commentsfrom European Central Bank President Mario Draghi.

Oil prices rose sharply during European hours on Thursday, extending strong overnight gains as market players awaited fresh weekly information on U.S. stockpiles of crude and refined products.

Oil prices rose more than 1.5 percent on Thursday after U.S. industry data showed a large drawdown in crude stocks, reflecting the impact of an Atlantic storm.

Algeria's energy minister will meet his Saudi counterpart and OPEC's secretary-general in Paris on Friday as part of moves towards clinching a global deal on stabilizing crude output to support oil prices, an Algerian official and OPEC sources said.

Oil prices extended gains in North American hours on Thursday, rising to the strongest levels of the session after data showed that crude supplies in the U.S. fell by the mostsince April 1985.

U.S. natural gas futures extended gains on Thursday morning, after data showed that natural gas supplies in storage in the U.S. rose less than forecast last week.