Commodities

The energy sector led a strong third quarter for commodity indexes, with the UBS Constant Maturity Commodity Index showing strong relative performance compared to the Bloomberg Commodity Index. The industrial metals sector saw a slight increase of over 3%, and CMCITR’s larger exposure to this sector allowed for slightly improved …

US President Joe Biden’s administration is easing sanctions on Venezuela’s oil and gas sector in response to a 2024 election deal reached between the Venezuelan government and the opposition. The US imposed sanctions on Venezuela in response to President Nicolas Maduro’s 2018 re-election, which the US and other Western governments …

Gold prices touched their highest levels in nearly a month on Wednesday after the Gaza hospital explosion reinforced fears of escalating conflict in the Middle East and maintained the precious metal’s appeal as a safe investment. By 0700 GMT, the price of gold in spot transactions had risen 0.7 percent …

Oil prices rose on Wednesday as tensions rose in the Middle East after hundreds were killed in a hospital explosion in Gaza, raising concerns about disruptions to oil supplies from the region. By 0225 GMT, Brent crude futures increased $2.07, or 2.3 percent, to $91.97 per barrel. US West Texas …

Crude oil prices were fluctuating due to geopolitical tensions, with WTI offers ranging between $86.00 a barrel and $86.50. Saudi Arabia and Russia are cutting 1.3m barrels per day (bpd) of production and reducing exports, pushing crude oil prices higher.OPEC member countries are also cutting back on oil production, threatening …

In the Asian session, Chinese economic data including GDP figures will be the main focus, while RBA Bullock will be speaking at a panel discussion. At the same time, UK inflation data will be released during European trading hours.Economic DataIn the US, another round of positive economic data was released, …

Gold prices have seen an upward trend as US Retail Sales data showed a 0.7% increase in September, surpassing the expected 0.3% increase. This comes amid rising Middle-East tensions and the upcoming speech from Fed Chair Jerome Powell, who is expected to provide significant guidance on interest rates. Gold is …

Gold prices fell on Tuesday as the dollar and US Treasury yields rose ahead of economic data and a speech by Federal Reserve Chairman Jerome Powell this week, which could shift the direction of upcoming interest rate decisions. Spot gold prices fell 0.1 percent to $1,916.88 per ounce by 0703 …

Oil prices fell slightly on Tuesday after falling by more than a dollar on Monday amid hopes that the United States will ease sanctions on oil producer Venezuela and as Washington intensifies its efforts to prevent an escalation of the war between Israel and Hamas. By 0333 GMT, Brent crude …

China’s imports of major commodities continued resilient in September, despite all the discussion that insisted that the Chinese economy is struggling for momentum. Imports of crude oil, natural gas, coal, and iron ore dropped slightly from August, but all were higher than in September last year. The first nine months …