Commodities

The WTI crude oil recently fell to fresh session lows and is eyeing a test of its 21DMA pre-Fed rate announcement. Commentary about a weak outlook for demand growth and China lockdowns is being cited as a reason for price’s retreat.The American benchmark for sweet light crude oil is looking …

Oil prices fell on Wednesday amid concerns about fuel demand and global economic growth ahead of an expected big hike in interest rates by the Federal Reserve. Brent crude futures fell $1.27, or 1 percent, to $119.90 a barrel by 1001 GMT. The price of US West Texas Intermediate crude …

Gold prices rose more than 1% on Wednesday, supported by a weak dollar, as investors braced for a possible sharp interest rate hike by the Federal Reserve. Spot gold rose 1.2 percent to $1,829.99 an ounce by 1225 GMT, while US gold futures rose 1.1 percent to $1,832.70. The dollar …

Speaking to supporters in Philadelphia, US President Joe Biden reassured Americans that tackling the worst inflation the nation has seen in decades remains a top priority for him and his administration. The speech comes oner day before the Fed could raise interest rates as much as three-quarters of a percentage …

Crude oil prices are retreating after reaching fresh three-month highs. The West Texas Intermediate crude hit an intraday high of $123.66, and now is trading at around $119.38. The initial price rally came after the OPEC+ reported that it produced a total of 28.5 million barrels per day in May, …

OPEC maintained its forecast that global oil demand will exceed pre-coronavirus levels in 2022, but said that the Russian invasion of Ukraine and pandemic developments pose a significant risk. In a monthly report released on Tuesday, the Organization of the Petroleum Exporting Countries stuck to its forecast that global oil …

Global oil demand growth will slow in 2023 as higher crude and fuel prices push up inflation and slow the global economy, delegates from OPEC and industry sources said. Fuel use has rebounded after falling due to the coronavirus pandemic in 2020 and is on track to surpass 2019 levels …

Oil prices rose by about $1 in volatile trade on Tuesday, June 14, as the impact of global supply shortages outweighed fears that fuel demand would be hit by a recession and new restrictions imposed to contain the spread of Covid-19 in China. The price of US West Texas Intermediate …

Gold prices rose on Tuesday from a four-week low, as a halt in the dollar’s rally and US Treasury yields provided some support, but gains were limited by increasing bets that the Federal Reserve will tighten monetary policy significantly. And the price of gold in spot transactions rose 0.3 percent …

Financial markets started the week in risk-off mode and negative sentiment prevailed after the US had reported soaring inflation in May to a multi-decade high. Market participants are looking for a potential 75 bps rate hike as the US Federal Reserve meets this week.Economic Data: The economic calendar remained empty, …