Commodities

US crude oil prices reclaim the $100 level on supply issues. Russia’s halt of a Kazaks terminal cut supply by 1.2 million BPD.Oil prices rise on Thursday, jumping from weekly lows around $95.13, as the US dollar retraces from two-year highs and recession fears abate. At the time of writing, …

The American Petroleum Institute said that crude oil inventories rose by 3.8 million barrels in the week ending July 1. In its weekly report, the American Institute stated that gasoline stocks fell by 1.8 million barrels last week, and distillate stocks fell by 635,000 barrels. The release of the inventories …

The head of the International Monetary Fund on Wednesday said the outlook for the global economy had darkened significantly since April and she could not rule out a possible global recession next year given the elevated risks.Recession-linked fears are still accelerating and leading the way across all financial markets and …

The USD/CAD pair remains pressured around 1.3030, extending the previous day’s pullback from the highest levels since late 2020, as traders pare USD gains amid a quiet Asian session on Thursday. It is worth noting that the bounce in the prices of Canada’s main export item, WTI crude oil also …

WTI continued to slide on Wednesday on recession fears. Analysts said oil prices dropped due to recession fears; citing numerous reasons, including the unwinding of the oil trade as inflation hedge, a stronger US dollar, hedge funds reacting to negative oil price momentum, producer hedging, and new mobility restriction concerns …

Gold prices fell to near seven-month lows on Wednesday, as the dollar’s strength and expectations of a rate hike hurt the non-yielding metal. Spot gold fell 0.2 percent to $1,760.90 an ounce by 1053 GMT, after dropping about 2.6 percent on Tuesday. US gold futures fell 0.3 percent to $1,759.00 …

Oil prices rose about 3% today, Wednesday, before giving up some of their gains as investors turned to the market, after a sharp decline in the previous session, as concerns related to supplies returned, with concerns of a global recession continuing. Brent crude futures rose as much as $3.08, or …

Global recessionary fears have impacted most sectors across financial markets. The US dollar obviously benefited from the risk-aversion and soared entrenching the dollar’s safe haven status. The risk of a US recession is above 70%, according to most analysts. The inversion of Treasury yield curve also does add to those …

Gold is under further pressure below a key monthly trendline and continues to get deeper in the red territory. Gold prices slumped to their lowest in more than six months on Tuesday, as the US dollar rallied amid growing recession concerns that caused losses across risk assets.Extra fears stem from …

WTI crude oil drops as the US dollar gains are entrenched. Bulls have mentioned that product inventories are at critically low levels, which suggests restocking will keep crude oil demand strong.Oil price is down by 10.6% on the day after falling from a high of $111.42 to a low of …