Commodities

On Wednesday, Russia’s Vladimir Putin described Western sanctions “stupid” and threatened to halt all energy sales to Russia’s critics if they move forward with a cap on oil prices proposed by the G7 industrialized economic powers.“We will not supply gas, oil, coal, heating oil, we will not supply anything,” Putin …

On Wednesday, EU’s Ursula von der Leyen proposed that the bloc cap the price of Russian-imported gas, among other measures, as the member states are forced to deal with a worsening energy crisis while seeking to punish Moscow for invading Ukraine.Facing a cut-off of Russian oil and natural gas as …

Gold price is firm on Wednesday, but the precious metal is looking forward to reaching key resistance as the US dollar retreated from fresh highs. Gold bulls eye a 50% mean reversion with the prospects of a break to $1,735 beyond the said level. Gold price has added to gains …

Russia could maximize revenues if it decides to resume selling natural gas to the EU member states again. Russia may have to turn the natural gas tap back on for Europe, Citi’s global head of commodities research said Wednesday. Russia has halted Nord Stream 1 flows, and Europe is facing …

Oil prices rose on Wednesday on the back of Russian threats to withdraw from energy supply contracts, reversing losses incurred earlier in the session when they fell to their lowest levels since Russia’s invasion of Ukraine. Brent crude futures rose 85 cents, or 0.92 percent, to $93.68 a barrel by …

Gold prices fell on Wednesday as the dollar and Treasury yields rose after upbeat economic data boosted expectations that the Federal Reserve will continue to raise interest rates sharply. And gold fell in spot transactions 0.5% to $ 1692.99 an ounce (an ounce) by 0330 GMT, after falling earlier to …

At the time of writing, the precious metal trades around $1703. Earlier on Tuesday, gold future traded at $1712.80 with net decline of $9.80 or – 0.56%. Concurrently the dollar index was up 71 points or 0.65% and fixed at 110.22. This could mean that there was fractional buying in …

Oil prices fell on Tuesday as concern returned about the prospect of more interest rate hikes and COVID-19 lockdowns weakening fuel demand, reversing a two-day rally on OPEC+’s first output target cut since 2020.The US benchmark had been trading since Sunday without settlement due to the Labor Day holiday. WTI …

Oil prices fell on Tuesday after a two-day rally, as concerns returned over weak demand and the possibility of raising interest rates, as crude gave up the support it got from the first cut in production targets announced by OPEC + since 2020. New closures to curb the outbreak of …

Gold prices rose on Tuesday, as the pause in the dollar’s rally and the energy crisis in Europe prompted some investors to buy the safe-haven metal. And gold rose in spot transactions 0.5% to $ 1718.30 an ounce, by 0648 GMT. Prices rose earlier by about one percent to their …