Commodities

US equities edged higher, even despite comments by Fed Vice-Chair Lael Brainard said that the central bank would hardly pause its current rate-hiking cycle amid record inflation levels. Cleveland Loretta Mester said that inflation has not yet peaked and that it’s too early to discuss a potential pause in the …

The American WTI crude oil pushed higher on Thursday after OPEC+ had agreed to increase its monthly oil quotas, meanwhile, US inventories declined by 5.1-million barrels last week, above the 1.3-million-barrel fall.West Texas Intermediate crude trades at $117.53, namely it is 2.37% higher on Thursday as US oil inventories fell …

Oil ministers from OPEC+ nations agreed on Thursday to lift output by 648K barrels per day (BPD) in both July and August, according to sources speaking to Reuters, in line with the recommendation made by the group’s Joint Ministerial Monitoring Committee earlier in the day. With Thursday’s meeting having now …

Oil prices fell on Thursday after speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries may increase crude production to offset any decline in Russian production. Brent crude fell $2.82, or 2.4 percent, to $113.47 a barrel, after rising 0.6 percent on Wednesday. US …

The US dollar surged during US trading hours as stocks plummeted while Treasury yields advanced. The catalyst was a slew of positive US data boosting the US dollar and concerns about a likely looming recession.Economic DataThe US ISM Manufacturing PMI rose to 56.1 in May from 55.4 in the previous …

The WTI crude oil flirts with intraday low amid accelerating concerns over recession in the China and the United States. These concerns currently impact the overall global energy demand outlook.WTI crude is still laggard for the third successive day, despite the latest bounce off intraday lows, as fears surrounding growth …

The stock market fell Wednesday following still-strong economic data and the start of the Federal Reserve’s QE. The Dow Jones Industrial Average fell 177 points, or 0.5%, while the S&P 500 dropped 0.8%, and the Nasdaq Composite declined 0.7%. Stocks tried to rally in the afternoon but ultimately stumbled into …

US President Joe Biden is focused on knocking down sky-high fuel prices, but he has a limited influence to do that and the US President said he cannot take immediate action to bring them down. The oil markets were paying attention to Biden’s plans in March when he announced a …

As tensions accelerate with China, Biden’s administration is forging closer ties with Taiwan in areas such as trade and supply chainsThe US Trade Representative’s office on Wednesday unveiled a new pact with Taipei to promote bilateral trade in areas such as digital trade, clean energy and labor rights. The two …

Gold prices have bounced from multi-day lows under $1830 to the $1850 level after the beginning of the US trading session despite higher US yields. The Gold Index holds around daily highs even as Wall Street extends losses and as the US dollar further strengthens.Earlier on Wednesday, gold sharply surged …