Commodities

According to the latest UK government’s statement, on Tuesday the United Kingdom will taper its imports of Russian energy and oil products by the end of the current year 2022.This move will give the market, businesses and supply chains more than enough time to replace Russian imports by similar goods …

As market participants expected, in a public address from the White House, US President Joe Biden announced US ban on all Russian imports including oil and gas.Biden’s decision was made in consultation with the US’s Western allies, Biden added, noting that he understood that many European allies that don’t produce …

The precious metal continues to capitalize on safe-haven flows. Gold Price is currently trading at around $2,060 per ounce, overbought but without signs of technical exhaustion. The next relevant level to watch is $2,075.64, where it set a record high in August 2020, while beyond the level, market players will …

Civil aviation experts of Aerodynamic highlighted the intriguing story of Aeroflot 401 as an important example of an in-depth discussion on Russia, Ukraine and the impact of the ongoing war on global air transport.Aeroflot Flight 401 had taken off at night, in the pre-dawn hours of March 3, and quickly …

Oil prices jumped on Monday to their highest levels since 2008 as the United States and its European allies considered banning crude imports from Russia, while a quick return of Iranian crude to global markets looked less likely. Brent crude futures ended the trading session up $5.1, or 4.3 percent, …

Risk aversion continues as the major market driver amid the Russian invasion of Ukraine. The attacks have continued throughout the weekend, and a third round of cesefire talks has not eased the situation. Economic DataThe Investor Movement Index® (IMXSM) decreased to 6.79 in February, down from 7.07 in January. The …

American WTI crude futures on NYMEX, has attracted some significant offers near $125.05 after Germany refused to follow the footprints of the US and prohibit imports of Russian oil.Oil prices need to surpass $122.00 to regain their mojo amid an overall positive undertone in the oil counter on supply bottlenecks.Earlier …

In an interview on Dubai TV, Mohammed Hashad, Director of Research and Development Department at Noor Capital and member of the US Association of Technical Analysts, tackled the latest developments in financial markets, particularly the most prominent one; namely the surging oil prices that touched record levels, he also commented …

Gold overnight hit a YTD high at $2002.67, but afterwards, retreated to January’s 2021 resistance level-turned-support around $1959.40. Just now, the XAU/USD Index is trading at $1996.21, reflecting the risk-aversion of the financial markets.The conflict between Russia-Ukraine has not eased amid the third round of ceasefire talks. Sanctions on Russia …

Commodity prices spiked on Monday as industrial buyers and traders scrambled to source raw materials hit by supply disruptions caused by Russia’s invasion of Ukraine. Nickel rocketed 76%, palladium reached a record level and gold broke through $2,000 an ounce on safe-haven appeal, while oil and wheat jumped to 14-year …