Commodities

A report seen by Reuters on Wednesday showed that the OPEC + alliance expects a surplus of 1.9 million barrels per day in 2022, an increase of 600,000 barrels per day from previous estimates, amid expectations of a slowdown in oil demand growth this year. The report, which was prepared …

A source familiar with the matter told Reuters on Wednesday that Russian oil exports, excluding those destined for the former Soviet Union, rose to an average of 4.88 million barrels per day in the first four weeks of April, an increase of 2 percent compared to March. The source also …

Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, announced plans to phase out Russian oil imports, offsetting fears of declining demand from China, the world’s largest oil importer. By 0746 GMT, Brent crude futures rose $2.94 a barrel, or 2.8 percent, to $107.91 a …

Gold prices fell on Wednesday, with the increase in the yield on US Treasury bonds and an imminent hike in the interest rate, which negatively affected the demand for the precious metal. Spot gold prices fell 0.1% to $865.31 an ounce by 00:40 GMT. US gold futures fell 0.2% to …

Oil prices rose in early Asian trade on Wednesday after industrial data showed a decline in US crude and fuel stocks, which raised supply concerns. The price hike comes on the back of Tuesday’s news that the European Union is preparing to impose new sanctions on Russia over its invasion …

Gold prices fell on Wednesday with the increase in the yield on US Treasury bonds and an imminent hike in the US interest rate, which negatively affected the demand for the precious metal. Spot gold prices fell 0.1 percent to $865.31 an ounce by 0040 GMT. US gold futures fell …

Financial markets were in a better mood on Tuesday, with global indexes managing to post gains, resulting in less demand for the safe-haven dollar.Hot inflation, tensions in Europe amid the Russian war on Ukraine and a rising number of coronavirus contagions, not only in China, anticipate a long road ahead …

At $1,871.10, the gold price is firmer on Tuesday, rising from a low of $1,850.47 to a high of $1,878.14 so far. The price has upheld the bid in synch with a slight retreat in US Treasury yields and the US dollar ahead of this week’s Federal Reserve went.The US …

Oil prices fell on Tuesday under pressure from China’s COVID-19 shutdown that could affect demand, but prices found support from a possible European oil embargo on Russia over its invasion of Ukraine. Beijing, which records dozens of new infections with the Coronavirus daily, is conducting mass examinations of the population …

Slovakia will seek an exemption from any Russian oil embargo agreed by the European Union as part of its next set of sanctions against Moscow over its invasion of Ukraine, the Slovak Economy Ministry said on Tuesday. “If there is an agreement to ban Russian oil as part of another …