Commodities

China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …

Oil prices fell for a second session on Monday after Libya resumed production at the weekend, while China, the world’s largest crude importer, is expected to release data showing that the post-pandemic economic recovery is facing bumps. Brent crude futures fell 57 cents, or 0.7 percent, to $79.30 a barrel …

After an intense week across most financial markets, volatility is unlikely to ease soon. Market participants will continue to digest the latest round of US inflation data, particularly the CPI and PPI data, with a special focus on the upcoming FOMC meetings. The Fed enters its blackout period ahead of …

Mohamed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on global financial market developments, particularly expectations related to a US interest rate hike and whether the Federal Reserve has reached or about to reach the end of its monetary …

Global benchmark Brent crude hovered above $81 a barrel on Friday as sentiment on US demand rose, supported by supply disruptions in Libya and Nigeria. Brent and US West Texas Intermediate crude futures rose for the third consecutive session and in early Asian trading on Friday and are on track …

Gold maintains choppy performance despite US dollar’s losses Given that the market’s expectations for future US interest rate increases have been greatly reduced, the recent decline in gold prices is likely to have come to an end. Even so, we anticipate some additional upside potential for the year’s conclusion. Because …

The International Energy Agency said on Thursday that oil demand will rise to a record level this year as supply tightens, but in light of adverse economic conditions and interest rate hikes, the increase will be slightly smaller than expected. However, the Paris-based agency expects demand growth next year to …

Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said during an oil and gas conference in Nigeria that global energy demand is expected to rise by 23% until 2045. He added, “The global demand for energy is expected to increase by a significant rate of 23% …

On the day, WTI crude oil is up due to mood related to China. Intense resistance is being tested by WTI. The dynamic trendline support is being watched for bears, who are lurking. The largest oil and gas producer in China, China’s National Petroleum Corp. (CNPC), reduced its prediction for …

Economists are busy analyzing gold price expectations ahead of the US Consumer Price Index (CPI) report. Gold prices are finding a footing with CPI data that is awaited on Wednesday, and on that note, markets do expect to witness a below consensus CPI print, which could help the precious metal …