Commodities

The White House has dimmed optimism over the Omicron batter after the US Food and Drug Administration approved a pair of pills from Pfizer and Merck to treat Covid-19. The White House has warned it will take more than six months to fulfil its initial order for Pfizer’s antiviral Covid-19 …

The US economy grew faster than expected in the third quarter of 2021 at 2.3%, up from an estimate of 2.1%.  The third-quarter growth in America’s total output in goods and services significantly slowed from the first two quarters where growth soared to 6.3% and 6.7% respectively. GDP growth is …

Gold has perked up on the day following an offer in the US dollar and a bid in global shares. US real yields are the focus pertaining to Federal Reserve expectations. The precious metal has benefitted due to the market being well priced for a hawkish Fed in what has …

US crude stocks fell more than expected in the most recent week due to year-end tax considerations, analysts said, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.Crude inventories fell by 4.7 million barrels in the week to Dec. 17 to 423.6 million barrels, compared with …

Brent crude futures edged higher to USD 74.2 per barrel on Wednesday, after rebounding more than 3% in the previous session, as shrinking inventories and an energy crunch in Europe more than offset worries about new restrictions to combat the Omicron spread that could dent fuel demand. Government data showed …

Oil prices stabilized on Wednesday, December 22, as traders awaited indicators of fuel demand amid fears related to Covid-19 after Singapore suspended travel without quarantine, and Australia renewed its vaccination campaign as cases of the mutant Omicron of the Coronavirus rose. Brent crude futures rose eight cents, or 0.1%, to …

According to the US Bureau of Economic Analysis (BEA)’s final GDP estimate, the US economy grew at an annualized QoQ pace of 2.3% in Q3 2021, above the prior estimate for a growth rate of 2.1%. to be updated …

The US Dollar Index fell by 0.04%, sitting at 96.48 during the New York session. The market sentiment is positive, with major US shares rising between 1.60% and 2.80%. US President Joe Biden has said those not fully vaccinated have good reason to be concerned about omicron. All Americans have …

WTI crude oil battles monthly resistance line after rising the most in over two weeks. The oil benchmark retreats to USD 71.22 during early Wednesday morning in Asia.Crude oil benefited from the market’s optimism to overcome the virus-related fears. Though, the weekly industry inventory report by the American Petroleum Institute …

WTI crude futures jumped around 4% to above USD 71 per barrel on Tuesday, after falling more than 5% in the previous two sessions as traders reassessed the demand outlook amid rising Covid cases globally and fresh lockdowns in some countries. British Prime Minister Boris Johnson said he would tighten …