Commodities

WTI pares the biggest daily loss in one week ahead of the key activity data for July. Restoration of Nord Stream 1 gas pipeline drowned oil prices despite positive risk appetite and the softer US dollar. Libya’s resumption of oil production, ECB rate hikes and fears of a recession in …

Gold price falls back into the hands of the bulls following the ECB’s rate policy decision. The Gold Index is now at a critical stage in the bearish cycle where a significant correction could play out. Next week’s Fed meeting will be very important for rate and gold traders. Gold …

Oil prices fell for the second consecutive session Thursday, July 21, as demand concerns outweighed concerns about tight global supplies after US government data revealed weak gasoline consumption in the peak summer travel season. Brent crude futures fell 33 cents, or 0.3%, to $106.59 a barrel, after falling 0.4% in …

Gold prices fell on Thursday to their lowest levels in nearly a year, as prospects for an interest rate hike by major central banks to curb spiralling inflation weighed on the precious metal’s allure. Although gold is considered a hedge against inflation, higher interest rates increase the opportunity cost of …

Wednesday has been quite a busy and worrisome trading day. Most currencies have not reflected this as investors are preoccupied by ECB’s monetary policy decision eying it with caution. The US stock market continued its recent rally on Wednesday’s trading session, with technology stocks jumping. For the entire market, earnings …

The American Petroleum Institute said that crude oil inventories rose by 1.9 million barrels in the week ending on the fifteenth of July. The weekly report of the American Institute revealed that gasoline stocks rose by 1.3 million barrels last week, while distillate stocks decreased by 2.2 million barrels. The …

Gold fell on Wednesday as fears of monetary policy tightening and an increase in Treasury yields dispelled relief from the dollar’s decline. By 0610 GMT, gold fell in spot transactions 0.3 percent to $1,706.85 an ounce. US gold futures fell 0.3 percent to $1,706 an ounce. The dollar fell for …

Russian President Vladimir Putin said on Tuesday that the Kremlin-controlled energy giant Gazprom was ready to fulfill its commitments on gas exports. Speaking to reporters after his visit to Tehran, Putin also said that Gazprom was not responsible for reducing gas transportation capacity, including the closure of one of the …

The EUR/USD pair soared to 1.0268 on headlines suggesting the European Central Bank could discuss a 50 bps rate hike when it meets this week. Economic DataThe data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 2% to a seasonally adjusted annual rate of …

Ahead of US official government data scheduled release on Wednesday, the privately surveyed oil stock data has been released:Crude +1.860M vs. +1.4M barrels expected. Gasoline +1.290M vs. +0.1M bbls expected.Distillate -2.153M vs +1.2M expected. Cushing +0.523M.WTI crude for August delivery closed up US$1.62 to US$104.22 per barrel a day prior …