The US crude oil benchmark dipped early on Thursday to the lowest level in months, falling below $90 a barrel for the first time since Russia invaded Ukraine at the end of February.WTI trades now at $91.9, but at 10:30 a.m. ET on Thursday, the US benchmark WTI Crude had …

In the latest signal of a faltering oil market, energy analytics and intelligence firm Enverus said it was lowering its outlook for crude oil prices in the face of a looming recession and signs of demand destruction. In an email, the firm said it was reducing its outlook for the …

US Nonfarm Payrolls are expected to rise by 250,000 in July. Most assets, including gold, could likely react more significantly to any disappointing jobs report than a positive one. Gold’s movement has no apparent connection with NFP deviation four hours after the release.The headline job gains so far this year …

OPEC Secretary General Haitham Al-Ghais told Al-arabiya TV, on Thursday, that the organization should tread a fine line as not to consume all oil reserves, the Organization’s Al-Ghais also commented on OPEC’s decision on Wednesday to only increase production by 100,000 barrels per day by saying: “we aim to test …

Initial jobless claims have been trending higher since early April in one of the clearest signs that the US labour market conditions have begun to deteriorate. While jobless claims have a successful track record foreshadowing recession, continuing claims are a better check on whether the economy is already slowing down.The …

The major US index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to show a lack of direction following the rally seen in the previous session.The S&P 500 has gone back and forth during the US session, sitting below the 200 day EMA, as …

Truth to tell US House Speaker Nancy Pelosi left Taiwan but the visit has put commodities and supplies in focus once again on the island’s critical role in the global chip supply chain and in particular on the world’s biggest chipmaker, namely, TSMC.The controversial visit, which angered Beijing, was a …

US indexes surged, capping the safe-haven dollar’s demand, partially helped by strong Q2 corporate earnings reports and encouraging local data.Commodity-linked currencies, on the other hand, benefited from Wall Street’s strength. AUD/USD trades around 0.6950 while USD/CAD is marginally lower at 1.2840.The EUR/USD pair trades around 1.0160, as tepid European data …

Michael Saylor’s bet on Bitcoin has failed and he lost. The MicroStrategy CEO, also one of the biggest bitcoin bull, has decided to step down. When cryptocurrency lending platform Celsius froze user accounts amid a drop in valuations, waves across the industry raised questions about what could happen to user …

Fed’s Neel Kashkari has said that the Fed moved too slowly in 2021 in tackling high inflation. He also added that US wages are climbing and there is a risk that this goes into a wage-driven inflation story and that the US central bank is laser-focused on getting inflation down.Kashkari …