Commodities

US energy drillers this week added the most oil and natural gas rigs in a week since April as rising oil prices prompt more drillers to return to the well-pads.The oil and gas rig count, an early indicator of future output, rose 13 to 601 in the week to Jan. …

WTI crude oil is trading now at $81.73 per barrel after latest high recorded Friday at $83.14 per barrel. The benchmark American oil is probing its best levels since early November in the $73.00 as geopolitical tensions rise. Analysts as well as banks have been calling this week for WTI …

Federal Reserve Bank of San Francisco President Mary Daly said on Friday that the latest Omicron wave will extend the time period that inflation will remain high. Federal Reserve Bank of New York President John Williams said on Friday that he expects the Omicron wave to temporarily prolong and intensify …

Industrial Production in the US dropped unexpectedly 0.1% in December. Analysts at Wells Fargo explain the decline took place despite indications that wait times are shortening and other signs of initial improvement with the supply chain problem.Key Quotes: “Total industrial production edged slightly lower in December with a 0.1% decline …

The market has stabilized, with the US dollar consolidating losses on Thursday. Risk appetite retreated, preventing the dollar index from falling further. Intraday gains of the American currency helped correct oversold conditions reached one day following Wednesday’s selloff.The Federal Reserve’s hawkish language was much assessed and digested in ahead of …

Gold futures edged lower on Thursday, with prices on track to post their first loss in five sessions, after a rise in the US producer price index reading for December came in below market expectations.It could be argued that the bullish case for gold is its reputation as an inflation …

Crude oil prices edged lower on Thursday as investors took profits after two days of gains amid fears of aggressive US interest rate hikes.Losses were cushioned by expectations of a strong economic recovery that will boost demand in a tightly supplied market. US West Texas Intermediate crude futures settled down …

Taiwan Semiconductor shares surged on Thursday, as the semiconductor manufacturer said fourth-quarter earnings topped Wall Street estimates and it would boost spending for 2022 well above last year’s levels.Taiwan Semiconductor shares closed at $139.19, gaining more than 5% and just off their 52-week high of $145. More than 51 million …

A new report from Rhodium Group suggested that the United States may have to play catch-up to regain progress in the fight against climate change following a year of volatile natural gas prices that led to more reliance on less expensive coal increased greenhouse gas emissions in 2021. In its …

The coming oil surplus could be much smaller than expected and could exert much less downward pressure on oil prices this year.Demand remains strong as signaled in the six-month futures spread in Brent which has more than doubled since hitting a low point in December.At the start of 2022, Omicron’s …