Commodities

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 …

Wednesday’s data has showed an unexpected acceleration in the US ISM Manufacturing PMI Index in May from 55.4 to 56.1. According to analysts at Wells Fargo, the report offers a mixed read on the state of the industry. “Orders and order backlogs are growing at a faster pace. Meanwhile, supplier …

Two sources in OPEC + told Reuters on Wednesday that the group expects the oil market surplus to be 1.4 million barrels per day in 2022, about 500,000 barrels per day less than previous expectations. The two sources were based on figures prepared for the meeting of the OPEC + …

Gold prices fell to their lowest level in two weeks on Wednesday, but remained in a limited range as the demand for the precious metal as a safe haven helped offset some of the continuing pressures from the rise in the dollar and US Treasury yields. And the rise of …

US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank. Biden’s endorsement of …

US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank.Tuesday’s meeting was the …