Commodities

European Union member states have agreed to cap the price of Russian oil as they seek to cut Kremlin revenues and punish Vladimir Putin for the Ukraine war. Ambassadors from 27 countries on Wednesday signed off on the proposed cap on the price of crude shipped to countries outside the …

Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

The White House has denied any ban or curbs on natural gas exports this winter to help alleviate energy woes in European allies. Earlier in 2022, US President Joe Biden committed to deliver 15 billion cubic metres (bcm) of liquefied natural gas to Europe following Russia’s invasion of Ukraine and …

Gold price rallied on Tuesday touching a fresh high for the week so far around $1,730 and traders are eying September’s high of $1,735. The precious metal rallied from a low of $1,695.24 on the day as the US yields made fresh lows of 3.564% in 10-year Treasury yield while …

German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances …

Oil prices rose on Tuesday amid expectations that the OPEC+ group may agree to a significant cut in crude production when it meets this week. Brent crude futures rose 79 cents, or 0.9 percent, to $89.65 a barrel by 1054 GMT, after gaining more than 4 percent in the previous …

Gold prices hit a three-week high on Tuesday, prompting all precious metals to gain, with the dollar and US Treasury yields falling again after hitting their highest levels in years, restoring the allure of the non-yielding precious metal. And gold rose in immediate transactions 2.5 percent to $ 1707.20 an …

The US dollar resumed its decline at the beginning of the week on the first US trading session in October, ending Monday with losses across the board while Government bond yields were sharply lower but moved off their intraday lows ahead of the close.The EUR/USD pair was able to advance …

Natural gas futures retreated on Monday amid weaker market signals; including storage capacity extensions. This has sent November prices as much as 46 cents below Friday’s close. The November Nymex contract ultimately settled Monday at $6.470/MMBtu, down 29.6 cents. Gas prices recovered on Monday, led by large upward swings on …

Gold price is holding on the $1701 per ounce level during the first US trading session in October. Gold seems to be currently defending its gains amid a broadly weaker US dollar. However, some economists believe that it stays immersed in a strong downtrend despite the recent respite afforded by …