Commodities

Crude Oil prices have fallen back despite a sharp decline in US crude oil supplies, with West Texas Intermediate crude oil trading at $77.51 per barrel. Investor concerns are growing that a reported extension in OPEC cuts will be enough to prop up barrel bids. OPEC and its extended network …

Gold is 0.26% up, trading at 2,343.18 per ounce at the time of writing. The precious metal‘s price has recovered after the US dollar weakens following the release of revised Q1 GDP data. The revised data suggests the US economy is not as strong as analysts had previously thought, potentially …

Oil prices declined on Thursday as the stronger U.S. dollar and expectations of prolonged high interest rates raised concerns about potential demand reduction. Brent futures dropped 0.3% to $83.34 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.3% to $79.00. Both benchmarks are on track for monthly losses, …

Oil prices fell on Thursday as markets await the latest U.S. crude oil stockpiles data. Resilient U.S. economic activity suggests that borrowing costs will remain higher for longer, potentially impacting demand. Brent futures lost 9 cents to trade at $83.52 a barrel, while U.S. West Texas Intermediate (WIT) crude was …

The U.S. dollar strengthened in early European trading on Wednesday, driven by growing expectations that the Federal Reserve will postpone interest rate cuts until later this year. This upward movement was also supported by rising U.S. Treasury yields, fueled by a lackluster debt auction. At 04:10 ET (08:10 GMT), the …

Oil prices experienced a boost in Asian trading on Wednesday, fueled by expectations that major producers will maintain existing output cuts at their upcoming meeting and the anticipated rise in fuel consumption during the summer season. Brent crude futures for July delivery saw a modest increase of 18 cents (0.2%), …

The US dollar managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September.Key Developments:The USD Index (DXY) rebounded from multi-day lows near 104.30 on the back of te …

Crude oil prices saw a noticeable surge, with the price of West Texas Intermediate crude exceeding the $80 per barrel barrier, Brent oil rose to more than $84.19 per barrel, while energy markets are closely watching recent developments in particular OPEC and its allies’ actions within the framework of OPEC …

Despite pressure from high US Treasury yields, gold gains more than 0.30%. Governor Michelle Bowman and other Fed officials’ pessimistic comments restrain Gold’s ascent. The release of US core PCE inflation data is of interest to traders of XAU/USD. Late in the North American session, the price of gold saw …

China’s 2024 economic growth target was raised by the International Monetary Fund from 4.6% to 5%. This upward revision is a result of China’s efforts to support its real estate sector and follows a robust first quarter performance1. Key Quotes, Insights Robust Q1: China’s proactive efforts to boost its real …