Commodities wrapped up their best quarter in over 32 years in the aftermath pf Russia’s invasion of Ukraine supercharged a rally in markets from oil to wheat and nickel.The commodities’ rally extends last year’s rebound, which was driven by higher consumer demand for goods and services when the economy reopened …
Read More »Oil is heading to record the largest weekly loss in two years
Oil prices fell on Friday, ahead of a meeting of member states of the International Energy Agency to discuss the withdrawal of strategic oil reserves, coinciding with a massive planned withdrawal of reserves in the United States. Brent crude and US West Texas Intermediate crude are heading for their biggest …
Read More »Gold is falling as bond yields increase, heading for a weekly loss
Gold fell on Friday and is heading for a weekly decline, as the rise in Treasury yields affected the attractiveness of the non-yielding metal, and increased pressure on it due to the rise of the dollar. And gold fell in spot transactions 0.4 percent to $ 1929.90 an ounce by …
Read More »Market Drivers – US Session – 31 March
The euro tumbled on Thursday as investors fretted about rising EU-Russia economic tensions after Russian President Vladimir Putin doubled down on a demand that European nations pay for Russian gas in roubles, exacerbating fears that Russia might block energy exports to the EU bloc. This, coupled with a generalized paring …
Read More »North American Natural Gas Futures Surge Amid Volatility
May contracts concluded for the prompt month for New York Mercantile Exchange natural gas futures opened with a bang Wednesday, rising 27.5 cents day/day and settling at $5.605/MMBtu while June futures gained 27.7 cents to $5.658.After slumping to start the week, natural gas futures regained momentum similar to last week’s …
Read More »Gold Consolidates Ahead of NFP Data
Gold has been on the front foot since the European morning, bouncing from the $1920 level into the $1940s. A ramping up of energy-related tensions between EU nations and Russia plus risk-off flows have benefitted the precious metal.The gold price is currently in a phase of consolidation ahead of the …
Read More »Oil plunges, global stocks fall as risk appetite flags
Global stocks fell on Thursday as recession concerns and the Russian-Ukranian war curbed demand for risky assets, while oil prices plunged over $5 on news that the United States may release some of its emergency oil reserves.With Thursday’s drop, US and European stocks are set for their worst quarterly performance …
Read More »US To Release 1M Barrels A Day Of Oil Reserve For Six Months
The Biden Administration will release 1M barrels per day in oil from the US Strategic Petroleum Reserve (SPR) over the next six months, according to a statement released by the White House on Thursday. The White House statement continued that the President will call on Congress to pass his plan …
Read More »OPEC + Ministerial Monitoring Committee agreed to adhere to the production policy in May
An OPEC + source said that the OPEC + Joint Ministerial Monitoring Committee agreed to adhere to the current oil production policy and increase production by 432,000 barrels per day as of May. according to reuters.
Read More »Gold is on track to post its biggest quarterly gain since September 2020
Gold fell in limited trading on Thursday, but the safe-haven metal is set for its biggest quarterly gain since September 2020, as the Russian-Ukrainian conflict made it more attractive. And gold fell in spot transactions 0.6 percent to $ 1921.55 an ounce by 0507 GMT. US gold futures fell 0.7 …
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