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Oil, Crude, trading

Mixed trading controls the performance of US crude oil futures contracts within the expected bullish path, touching the first target published in the previous technical report for 89.90, recording its highest level of $89.85 per barrel. Technically, prices were bearish after touching the resistance level represented by the target of …

As we expected, gold prices jumped during the previous trading session to achieve significant gains within the positive outlook. They touched the first target of $1953 and exceeded the second target of $1959, recording the highest level of $1962 per ounce. Technically, today’s movements are witnessing a retest of the …

For the second session in a row, the euro failed to breach the strong resistance level at the psychological barrier of 1.0600, which forced it to trade negatively during yesterday’s session. Technically, the current movements are witnessing stability around the lowest level during early trading, 1.0534. A closer look at …

Gold initially jumped and reached $1,963, its highest level in two months, despite the moves in the bond market. The yellow metal later pulled back and settled around $1,950.The positive market sentiment that followed bright economic data from China was offset by rising tensions in the Middle East, higher yields …

Federal Reserve (Fed) Governor Michelle W. Bowman commented at a Fed Listens event on Thursday that inflation in the US has come down but is still too high. At the time of press, the US Dollar Index was down 0.02% on the day at 106.54.Key Quotes “What has been somewhat …

Due to sour market sentiment and the Fed’s Beige report, which revealed no material changes in economic activity since the September report, the US Dollar gained ground on Wednesday. Although US housing starts from September disappointed, building permits performed better than anticipated. The US Dollar Index reached a high of …

The energy sector led a strong third quarter for commodity indexes, with the UBS Constant Maturity Commodity Index showing strong relative performance compared to the Bloomberg Commodity Index. The industrial metals sector saw a slight increase of over 3%, and CMCITR’s larger exposure to this sector allowed for slightly improved …

US President Joe Biden’s administration is easing sanctions on Venezuela’s oil and gas sector in response to a 2024 election deal reached between the Venezuelan government and the opposition. The US imposed sanctions on Venezuela in response to President Nicolas Maduro’s 2018 re-election, which the US and other Western governments …