Commodities

WTI hit fresh multi-year highs above $88.00 per barrel recently, breaking above last week’s highs. Profit-taking has since seen WTI drop back into the mid-$86.00s, but oil holds onto decent on the week gains.Positive risk appetite and ongoing geopolitical and OPEC+ supply concerns are an ongoing source of support that …

US Real GDP grew at an annualised pace of 6.9% in Q4 2021, well above the median economist forecast for a pace of growth of 5.5%, according to the first estimate released by the US Bureau of Economic Analysis on Thursday. That marked a sharp acceleration from Q3’s 2.3% QoQ …

Oil traded at a seven-year high of around $90 a barrel on Thursday as the Ukraine crisis supported prices despite signs that the US Federal Reserve would tighten monetary policy. Brent crude futures rose six cents, or 0.1 percent, to $90.02 a barrel by 1113 GMT, and West Texas Intermediate …

The dollar is ending Wednesday firmly higher across the FX board, following the US Federal Reserve monetary policy decision.As widely anticipated, rates and taper were left unchanged, although the statement indicates that “the Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” …

Saudi Arabia is expected to raise the official selling prices of all its crude grades sold in Asia next month on the back of solid demand and refining margins.Saudi Arabia usually sets the official selling prices (OSPs) of its crude for the following month around the fifth of each month, …

Brent crude futures rose more than 2% on Wednesday, surpassing $90 a barrel for the first time since 2014. The price of oil surpassed $90 a barrel on Wednesday, its highest mark in eight years as limited supply coupled with the prospect of a Russian invasion of Ukraine sent energy …

Gold prices have dropped and now trading at $1,817.59. Gold is moving towards the close and down some 1.65% after falling from a $1,850.11 high to test a low of $1,814.98. The drop came on the back of a hawkish twist at the Federal Reserve event on Wednesday.Initially, the Federal …

Spot gold (XAU/USD) prices have been under selling pressure in recent trade, dropping from the mid-$1840s prior to the US open to around the $1830 as the Fed monetary policy announcement at 1330GMT looms. A combination of pre-Fed profit-taking and short-term, intra-day technical selling have been cited as the reason …

Dubai TV interviewed Mohamed Hashad, the Director of Research and Development at Noor Capital and member of the American Association of Technical Analysts, to comment on a number of the latest developments that financial markets are witnessing this week, most notably: First: Crude Oil In light of the continuing geopolitical …

Oil prices fell on Wednesday as investors booked profits ahead of the announcement of a Federal Reserve decision and US Energy Information Administration data on crude stocks. Still, concerns about supply shortages due to geopolitical tensions limited losses. Oil prices hit a seven-year high last week amid fears of tight …