Commodities

Oil prices extended gains on Monday, July 18, supported by a weak dollar and tight supplies, which offset fears about a recession and the possibility that widespread shutdowns in China to combat Covid-19 will again reduce demand for fuel. Brent crude futures for September delivery settled at $103.76 a barrel …

Russia’s Kommersant newspaper reported on Monday, citing informed sources, that Canada sent a Nord Stream gas pipeline turbine to Germany on a plane on July 17 after completing its repair. It will take another five to seven days for the turbine to reach Russia unless there are problems with logistics …

Oil prices extended gains on Monday, buoyed by a weak dollar and tight supplies that offset fears about a recession and the possibility that widespread shutdowns in China to combat COVID-19 will again reduce demand for fuel. Brent crude futures for September delivery settled 69 cents, or 0.7 percent, at …

The US dollar surged to two-decade highs between Wednesday and Thursday after panic across markets that the Fed might decide a record 100-basis point rate hike next to suppress fresh four-decade highs in consumer prices which constitute a threat later downplayed by the US monetary policymakers.On Friday, the US Census …

Following a meeting with Crown Prince Mohammed bin Salman in Jeddah, though US president Joe Biden said he expected Saudi Arabia to take further steps to increase the oil supply in the coming weeks, oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output …

Oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.The comment during US President Joe Biden’s visit to the kingdom comes at a time when …

Active drilling rigs in the US rose by 4 to 756, the highest since March 2020 and 56% more than a year ago, according to the latest weekly survey from Baker Hughes.Drilling rigs targeting crude oil gained 2 to 599, also the most since 2020, and gas rigs were unchanged …

Gold prices fell on Friday, July 15, and remained on track for the fifth consecutive weekly decline, as the continued rise in the dollar and fears of a sharp rise in US interest rates affected the demand for bullion. And the price of gold in spot transactions fell 0.3% to …

Recession-linked fears have put the US dollar on the bullish path throughout the first half of the day, although cooling expectations of a 100 bps rate hike in the US triggered a corrective slide. The EUR/USD pair plunged to 0.9951 but finished the day at around 1.0020.CME FedWatch is now …

Producer price pressures are still too strong to delay any Fed’s future rate hikes. The US dollar could continue to receive support from the recession-linked fears in and outside the United States. Gold has been pressured on Thursday due to a rising US dollar and hawkish sentiment surrounding the Fed …