Goldman Sachs Group has urged financial market players to pile into commodities as most recession risks coursing through global markets are exaggerated. The group’s argument is that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.With oil the commodity of last resort in an era …

International Energy Agency Chief Fatih Birol said on Monday that Russia’s oil production hasn’t fallen as much as previously expected because it managed to find new markets outside Europe and added domestic demand remained robust, per Reuters. “Going forward, it would be difficult for Russia to maintain oil production due …

Crude oil was the winner of the week on signs of improving fuel demand, so oil surpassed the performance of all other assets, although some market expectations actually occurred during the past week and some other expectations did not.Energy PricesAfter starting the week near the previous week’s lows, oil attempted …

After dropping nearly $25 following the highly anticipated speech by Federal Reserve Chair Jerome Powell, gold could be at risk of falling to $1,600 an ounce unless buyers step in to buy the dip, according to analysts. The Fed chair wants to avoid the mistakes of the 1970s, which is …

Jerome Powell’s comments, before Jackson Hole Symposium, have fuel 1,000-point market collapse, on Friday, as stocks slid for a second week. US equities fell after Powell had said the US central bank “won’t back off in its fight against rapid inflation”. The Dow Jones Industrial Average dropped 1,008.38 points, or …

Oil prices closed higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings from the head of the US Federal Reserve about economic pain ahead.Brent crude futures rose $1.65 to settle at $100.99 a …

The Treasury Department is facing complaints from the cryptocurrency industry over sanctions imposed on a firm accused of helping to launder billions of dollars, with some funds going to North Korean hackers.In early August, the Treasury Department imposed sanctions on the virtual currency mixing firm, Tornado Cash, which allegedly helped …

The US and India made progress on price cap talks, according to Wally Adeyemo, the US Deputy Treasury Secretary. India has emerged as one of Russia’s largest oil customers as it snaps up discounted barrels. The comments come after Indian officials have privately expressed reluctance about joining the price cap, …

Cryptocurrencies and stocks both pushed lower following Fed Chair Jerome Powell’s speech today. Both cryptocurrencies and major stock indexes lost value this morning, as global market participants responded to the hawkish language that Federal Reserve Chair Jerome Powell used in his keynote speech at the Jackson Hole Economic Symposium.The price …

Europe’s unified approach to energy dates back to a long time before the Russian invasion of Ukraine, nevertheless the impacted countries that are directly or indirectly under energy shortages could be obliged to watch gas flow past. German cities are a little different this summer. Visitors to the local swimming …