The United States Energy Information Administration (EIA) has projected that energy prices will continue to rise on increased demand, according to its latest outlook report. The EIA now expects the global demand for fuel will reach 97.7 million barrels per day, rising by 5.4 million barrels per day compared to …

Oil prices rose on Thursday for the fifth consecutive session, with economic data boosting hopes for recovery. Specifically, the U.S. GDP data, which showed a growth rate of 6.4%, provided support to crude oil prices, as well as the drop in jobless claims. Brent crude futures for July delivery rose …

Gold prices declined on Thursday after three consecutive rises, losing the $1,900 level, as the U.S. Dollar (USD) strengthened with the Treasury yields rising. The yellow metal futures for June delivery lost $5.5, or 0.3%, to close at $1,895.70 per ounce. Gold futures for August delivery also dropped $5.30, or …

The Tenth District manufacturing activity maintained growth during May, expanding at a strong pace, with positive expectations for future activity, according to the Federal Reserve Bank of Kansas. However, the monthly composite index declined to 26 this month, from 31 in April. Factory activity expanded on an annual basis, maintaining …

The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …

The United States Secretary of the Treasury, Janet Yellen, said on Thursday that the recent rise in inflation will most likely be temporary, with the economy still recovering from the coronavirus (COVID-19) pandemic. She further told Congress that the administration of President Joe Biden, as well as U.S. regulators, are …

U.S. new capital goods orders rose in April more than expected, as businesses recover from the coronavirus pandemic, data showed on Thursday. Orders increased by 2.3% last month, according to the U.S. Department of Commerce. On an annual basis, the rise was by 14.7%. Core capital goods shipments also grew …

The United States Pending Home Sales Index declined by 4.4% on a monthly basis in April, data showed on Thursday. The decrease resulted from a record-low supply of homes available for sale during the first quarter of the year, according to the National Association of Realtors (NAR). This comes against …

The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …

A recent report showed that the balance sheet of the United States Federal Reserve could peak by next year before declining and then stabilizing in three years. The Fed’s portfolio could reach $9 trillion by the end of 2022, according to recent estimates by the Federal Reserve Bank of New York. …