Commodities

The West Texas Intermediate crude oil is under pressure during the US trading session following US hot inflation reading release that has caused risk aversion across financial markets.At the time of writing, WTI is down around 0.6% is recovering to the $88.28 high after managing to rise from earlier fresh …

The International Energy Agency said on Thursday that the decision of the OPEC + group of oil producers last week to curb production led to higher prices and could push the global economy into recession. It stated in its monthly oil report that with persistent inflationary pressures and higher interest …

Gold prices moved in a narrow range on Thursday as investors exercise caution ahead of inflation data in the United States that could affect the size of the next interest rate hike by the Federal Reserve. And gold fell in spot transactions 0.2 percent to $ 1668.84 an ounce by …

The WTI crude is under pressure leading up to the key event of the week; namely Thursday’s US Consumer Price Index. At the time of writing, WTI is trading at 87.18 having crawled between $86.30 low and $90.05 high. Oil retreated on Wednesday with overall negative performance, losing over 1.8% …

Gold spiked higher to reach $1,678 after FOMC Minutes. The US dollar loses ground as the Fed hints to moderate the hiking pace. Gold futures spiked up to session highs at $1,677, with the US dollar turning lower as the minutes of September’s Fed meeting have been considered more dovish. …

Gold price holds around 1670$ even after US PPI data. The precious metal stays firm despite the US dollar’s strength.Market participants turn attention to FOMC minutes ahead of Thursday US CPI numbers. Gold continues to trade around $1,670 as it has been the case since the beginning of the European …

The US is struggling to protect chips supply chain against consequences of its new export curbs on China’s chip industry because such consequences could harm the semiconductor supply chain.Just hours before a new restriction became effective, South Korea’s chipmaker SK Hynix Inc announced it got authorization from the United States …

Russian President Vladimir Putin said on Wednesday that Russia intends to keep oil production and export rates at current levels until 2025, adding that Moscow will not give up its global leadership position in the global energy market despite Western sanctions. Putin also praised the OPEC+ group, which announced last …

Gold prices rose on Wednesday, supported by a slight decline in the dollar, as investors looked forward to the release of the minutes of the Federal Reserve’s monetary policy meeting for the month of September, as well as inflation data, for indications on the path of raising interest rates. And …

Oil prices fell for the third consecutive session on Wednesday as the dollar strengthened and investors prepared to receive US inflation data amid concerns about fuel demand raised by the risks of a global recession and the tightening of Covid-19 restrictions in China. By 0410 GMT, Brent crude futures fell …