Commodities

Crude oil prices have recently seen a surge, pushing crude oil futures above the $70 per barrel mark. While this upward trend is fueled by factors like OPEC+ production cuts and geopolitical tensions, a closer look reveals a more complex picture. The recent rally in oil prices is a testament …

Gold prices stabilized during Friday’s Asian trading session after experiencing significant losses the previous day. A stronger U.S. dollar, fueled by expectations surrounding next week’s Federal Reserve meeting, weighed on the yellow metal. However, gold retained most of its weekly gains, supported by heightened geopolitical tensions in the Middle East …

Canada is considering export taxes on major commodities it exports to the US, including uranium, oil and potash, if President-elect Donald Trump imposes the broad tariffs he pledged, per Bloomberg. Retaliatory tariffs on U.S.-made goods and export controls on certain Canadian products are most likely, with export levies also on …

Oil prices retreated this week, unable to sustain the momentum from the previous day’s rally. A confluence of factors, including a downward revision to global oil demand forecasts by OPEC, a strengthening US Dollar, and ample supply prospects, weighed on market sentiment. The Organization of the Petroleum Exporting Countries (OPEC) …

Gold prices experienced a downturn this week, shedding over 1% as investors grappled with conflicting economic signals from the United States. While a softer-than-expected jobs report pointed towards a potential easing of monetary policy, a surprising uptick in producer prices raised concerns about persistent inflationary pressures.The Fed’s Tightrope WalkMarket participants …

China seeks other strong trade relations to counter existing tensions with America, EU China’s economic recovery is a delicate balancing act, as the nation navigates a complex geopolitical landscape. The once-booming economy, a cornerstone of global growth, now faces a myriad of challenges, from escalating trade tensions with the West …

Gold and copper prices exhibited contrasting movements in Thursday’s Asian trading session as investors balanced geopolitical tensions, U.S. inflation data, and hopes for Chinese stimulus measures. While gold retreated slightly from a two-week high, copper surged to a one-month peak amid growing optimism surrounding China’s economic policies. Gold Eases as …

Oil prices experienced a significant surge on Wednesday, with West Texas Intermediate (WTI) reaching the $70 per barrel mark. This sharp increase was primarily driven by a larger-than-expected drawdown in US crude oil reserves, as reported by the Energy Information Administration (EIA). The market reacted positively to this news, as …

Gold prices climbed on Wednesday, December 11, 2024, as the latest inflation data increased the likelihood of a Federal Reserve interest rate cut next week.Spot gold gained 0.7% to $2,713.29 per ounce, while U.S. gold futures rose 1.4% to $2,756.00. The U.S. Consumer Price Index (CPI) for November came in …

OPEC announced on Wednesday a reduction in its global oil demand growth forecast for 2024, marking the fifth consecutive downward revision in its monthly report. This adjustment reflects increasing concerns over macroeconomic challenges, including slowing global economic growth, high interest rates, and subdued industrial activity. The group also lowered its …