Commodities

The European Union has started drafting its proposal for an embargo on Russian oil imports as its latest response to the war in Ukraine, the New York Times reported, citing Brussels officials and diplomats.The embargo will most likely be introduced in a gradual way, similar to the planned Russian coal …

The size of China’s economy was $17.7 trillion in 2021, according to official figures, so 5.5 percent growth would mean about $1 trillion more in 2022. Using growth in 2019 as a basis for comparison, business investment in China would need to contribute about 1.5 percentage points toward the 5.5 …

US natural gas inventories recorded reading in line with market expectations this week, as natural gas inventories rose by 15 billion cubic meters during the week ending last Friday. This reading is in line with market expectations. This reading is worse than the previous reading, which showed a decrease in …

Gold prices fell on Thursday but were still on track to record a weekly increase, supported by the demand for safe havens due to the Ukraine crisis and mounting price pressures. By 1100 GMT, gold fell in spot transactions 0.2 percent to $ 1973.41 an ounce, after rising for six …

Oil prices fell on Thursday in limited trading ahead of a public holiday, as traders weighed the impact of a larger-than-expected rise in US oil inventories in the face of global supply shortages. By 0632 GMT, Brent crude futures fell $1.14, or 1.1 percent, to $107.64 a barrel, while the …

Inflation, central banks and the Eastern European crisis are still impacting the market’s mood. Economic DataThe US reported that the March Consumer Price Index jumped to 11.2% YoY, both above anticipated while the UK published the March Consumer Price Index, which jumped to a three-decade high of 7% The annual …

The world’s largest economy is grappling with rising inflation levels. Per the latest Labour Department report, the Consumer Price Index (CPI) jumped 8.5% year over year in March, reaching the highest level since December 1981. The reading also surpassed the already high Dow Jones estimate of 8.4%. The high inflation …

Heavy truck sales in the US are very good leading indicator of economic activity, with 65% of the dollar value of North American freight moved by trucks. But new truck sales have been falling sharply and are now down 23% on an annual basis. New auto sales are falling at …

Gold holds in fresh bull-cycle highs in the midday New York session. The Gold Price is being supported amid continued demand for inflation protection in wake of the latest CPI/PPI data. Geopolitical tensions also remain higher and the prospects of Russo-Ukraine peace remain poor, underpinning the Gold Index.Gold price has …

Oil prices rose on Wednesday after Russia said peace talks with Ukraine had reached a dead end, fueling supply concerns, while weak economic data from China and Japan kept gains limited. By 0808 GMT, Brent crude rose 48 cents, or 0.5 percent, to $105.12 a barrel. West Texas Intermediate crude …