Commodities

The recent report from the US Energy Information Administration (EIA) revealed a smaller-than-expected drawdown in U.S. commercial crude oil inventories, casting a shadow on expectations of a more significant decline. While stocks did decrease by 900,000 barrels, this figure fell short of the anticipated 1.7 million barrels, a discrepancy that …

2024 has been a year of unprecedented growth for Wall Street, fueled by a confluence of factors, most notably the artificial intelligence (AI) revolution. AI stocks, led by giants like Nvidia, have soared, capturing investor imagination with the promise of transformative technological advancements. However, the current euphoria surrounding AI may …

The Russian Central Bank surprised markets on Friday by maintaining its key interest rate at 21%, contrary to widespread expectations of a 2-percentage-point hike. Analysts had anticipated a rate increase to 23%, but the bank justified its decision by citing the effectiveness of recent tightening measures in curbing inflationary pressures. …

Gold prices held near a one-month low in Asian trade on Friday, heading for their third consecutive weekly loss as the Federal Reserve’s slower-than-expected rate cut projections for 2025 weighed on investor sentiment. Gold Performance Spot gold edged up 0.1% to $2,596.82 per ounce, while Gold futures for February delivery …

Following the Fed’s less dovish stance, gold records gains of more than $0.20. According to statistical data, the US economy grew 3.1% year over year in Q3. Gold’s attractiveness as a safe-haven asset in times of uncertainty is increased by the possibility of a US government shutdown. The price of …

On Thursday, Russian President Vladimir Putin expressed his willingness to engage in dialogue with U.S. President-elect Donald Trump. While details regarding a potential meeting remain unclear, Putin used his annual press conference to address a wide array of topics, from the conflict in Ukraine to Russia’s economic outlook and military …

Oil prices remained relatively flat on Thursday, recovering from earlier losses but still trading below Wednesday’s close. Brent crude futures edged down 3 cents to $73.36 per barrel, while U.S. West Texas Intermediate crude slipped 2 cents to $70.56 per barrel by mid-morning trading in London. Fed Signals Slower Rate …

Gold prices dipped on Wednesday as investors awaited the Federal Reserve’s monetary policy decision. The market’s focus is on the central bank’s 2025 economic projections and the tone of Chair Jerome Powell’s subsequent press conference. The precious metal is 0..35% down, trading at $ 2636.28 at the time of writing.A …

Oil prices climbed on Wednesday, driven by a decline in US crude inventories and anticipation of an interest rate cut by the Federal Reserve. However, uncertainty surrounding the Fed’s future monetary policy trajectory is limiting the upside potential for oil.US Crude Inventory DrawThe Energy Information Administration (EIA) reported a decrease …

Oil prices edged higher on Wednesday as investors awaited the conclusion of the U.S. Federal Reserve meeting, where a widely expected interest rate cut could signal further monetary easing for 2025. Brent crude climbed by 32 cents, or 0.44%, reaching $73.51 a barrel by early morning, while U.S. West Texas …