Crude oil is facing fresh lows on the day as commodities are served a new blow by news on China’s covid levels and probable lockdown risks.Global growth concerns and the Iran deal talks are affecting oil’s price action. prices are continuing downside on Thursday as a combination of the lockdowns …
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A document seen by Reuters on Thursday showed that the OPEC + joint technical committee expects a deficit in the oil market in 2023 of 300,000 barrels per day. The committee, which held a meeting on Wednesday, expected demand to fall short of supply by 400,000 barrels per day this …
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Gold prices fell briefly below the $1,700 key level on Thursday for the first time in six weeks as major central banks tightened monetary policy to combat inflation, curbing demand for the non-yielding yellow metal. Spot gold fell 0.4 percent to $1,704.70 an ounce by 0917 GMT, after touching $1,699.30 …
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Oil prices continued declining in Thursday’s trading, with the rise of the dollar and increasing concerns about demand, in addition to the reduction of the joint technical committee of OPEC + its forecast for the excess oil supply during this year. In China, closures will be imposed in the city …
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The fall of the safe haven gold continued to head towards $1700 despite the lull in the dollar’s rallies that are still hovering near the 109 levels, but the crazy hikes in the two-year bond yields continue to raise concerns about recession fears. On the other hand, US bonds did …
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Gold is lacking momentum at the moment as prices trend lower towards $1,700 an ounce, but some analysts still believe that chances for further downside are limited.Gold prices are modestly down on Wednesday but off lows. During the US session, gold briefly rebounded from the one-month low at $1,709 and …
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Gold is lacking momentum at the moment as prices trend lower towards $1,700 an ounce, but some analysts still believe that chances for further downside are limited.Gold prices are modestly down on Wednesday but off lows. During the US session, gold briefly rebounded from the one-month low at $1,709 and …
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US Treasury Secretary Janet Yellen warned that a failure to place a price cap on Russian oil would hurt the global economy. “Without a price cap, we face the threat of a global energy price spike if the majority of Russian energy production gets shut in,” Yellen said, on Wednesday.The …
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On the ninth of August, US President Biden signed the CHIPS Act that analysts fear could be the starting point of wider weaponization of the global IT supply chains.The CHIPS and Science Act of 2022 includes a $52 billion package to boost semiconductor manufacturing in the US, however, the underlying …
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Gold prices modestly retreated on Wednesday. During the US session, the Gold Index rebounded from the one-month low at $1,709 and rose to $1,723. The precious metal is hovering around $1,720 and trades at $1718.40 per ounce at the time of writingUS treasury yields fell on Wednesday. Following the August …
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