Crude oil prices fell slightly on Thursday. Although OPEC+ delayed the resumption of production, it is still planning to increase production next year. Gold prices are falling, and investors are waiting for the US on FridayNon-farm payrolls datato find clues about the direction of the Federal Reserve's policy. Luntong fell slightly.

Crude oil: oil prices fall slightly, traders assess the impact of OPEC+'s delay in increasing production

Oil prices fell slightly during the shock on Thursday. OPEC+ delayed the recovery of oil production for three months, but it still plans to increase production next year to the expected excess market.

WTI fell 0.4% to close at around $68 per barrel, fluctuating between ups and downs for most of the day. Brent crude fell back to around $72 per barrel.

OPEC+ agreed to postpone the planned increase in production. The production recovery plan will now begin in April and proceed at a slower pace than the original plan, and will be completed in September 2026.

“Delays won't solve the problem,” Daniel Ghali, TD commodities strategist, wrote in the report. Although the organization's plans will support oil prices in the short term, “the drag on energy supply risk premiums will continue.”

According to the International Energy Agency, even if OPEC+ does not increase production at all, the global market will face an overflow situation in 2025.

“OPEC+ is definitely still in a 'price protection' model,” said Ole Hansen, head of commodity strategy at Saxo Bank. “Hopefully, by next March, we and them will have a clearer understanding of the impact of Trump's policies and whether Iran's oil production has been affected by additional sanctions.”

WTI crude oil futures fell 0.4%, and the settlement price was $68.30 per barrel

Brent crude oil fell 0.3%, and the settlement price was $72.09 per barrel

Precious metals: Gold prices fell before US employment data was released

Gold prices fell on Thursday, and traders await an important US employment report that could influence the Federal Reserve's next interest rate decision.

The US will release November's non-farm payrolls data on Friday. Economists forecast an increase of about 0.218 million people, and the unemployment rate remains flat at 4.1%.

The Federal Reserve will hold its next interest rate decision meeting in Washington on December 17-18. The swap market shows that investors are betting on cutting interest rates by 25 basis points.

Data released by the US on Thursday showed that the number of people claiming unemployment benefits for the first time rose to a one-month high last week; Federal Reserve Chairman Powell said on Wednesday that he expects to be in a position to act prudently in cutting interest rates.

Macquarie Group believes that there is room for a further increase in the price of gold next year and is likely to reach a new high. The bank expects the average price of gold to be $2,650 per ounce in the first quarter of next year, which is 1.9% higher than previously anticipated.

3 p.m. EST

Spot gold fell 0.7% to $2630.24 per ounce

Spot silver fell 0.2% to 31.253 US dollars/ounce