Gold fell on Friday, as US Treasury yields rose overnight on data pointing to a sharp rise in inflation, but prices are heading for their second consecutive weekly gain after no progress in talks between Russia and Ukraine. Gold fell in spot transactions 0.6 percent to $ 1984.91 an ounce. …
Read More »Top energy companies prepare to launch new $1 bln clean tech fund -sources
A group of the world’s largest oil and gas companies is preparing to launch a new fund worth more than $1 billion to invest in new technology-focused on reducing greenhouse gas emissions from energy use, sources said on Thursday. The Oil and Gas Climate Initiative, which brings together 12 of …
Read More »Market Drivers – US Session – 10 March
The US dollar index has rebounded sharply from 97.72 on Thursday and is settling above 98.50 as inflation levels in the US hit skyscrapers.The USD managed to post gains vs its European rivals and the JPY but lower against commodity-linked currencies.Economic Data:The US Bureau of Labor Statistics reported the US …
Read More »Natural Gas Trade Sideways Ahead Of Weather-Based Demand
Natural gas prices held in a narrow range Wednesday, flipping between modest gains and losses as traders balanced global supply worries amid the war in Ukraine against the prospect of fading domestic demand.The April Nymex gas futures contract ultimately shed a tenth of a cent day/day and closed at $4.526/MMBtu. …
Read More »Will Oil Prices React To Putin’s Comments?
Russian President Vladimir Putin said to ministers that Russia is at the moment adhering to its obligations on energy exports, noting that it is surprising that “we are doing this”. Regarding the US ban on Russian oil imports, Putin noted that inflation in the US is surging and the West …
Read More »Gold Gets Prepared To Resume Advance
Gold Price is looking for direction at around $2,000 amid multiple first-tier events.The ECB has announced hawkish measures, and has expressed concerns about the ongoing Eastern Europe conflict.Skyrocketing US inflation reached yet another multi-decade high in February.The Gold Index is little changed post-Wall Street’s opening, hovering just above the $2,000 …
Read More »Gold Rises as Investors Follow Talks Between Russia And Ukraine
Gold strengthened on Thursday after a sharp decline in the previous session as concerns about the Russia-Ukraine crisis persisted after the lack of progress in talks between the two sides, while also likely to affect important US inflation data. Spot gold rose 0.2 percent to $1,996.09 an ounce, after falling …
Read More »Belarus President Orders Specialists to Secure Energy Supplies to Chernobyl
Belarusian President Alexander Lukashenko has instructed local specialists to secure power supplies to the Chernobyl nuclear power plant in Ukraine, the Belta news agency reported Thursday. Ukraine said on Wednesday there was a risk of a radioactive leak at Chernobyl after the power cut, but the United Nations’ International Atomic …
Read More »Oil Rises After The UAE Says it is Committed to The OPEC+ Agreement to Increase Supplies
Oil prices recovered on Thursday after the United Arab Emirates said it was committed to the OPEC+ agreement to increase monthly supplies by 400,000 barrels per day, hours after its ambassador in Washington said his country favored a larger increase. US West Texas Intermediate crude contracts jumped more than three …
Read More »Market Drivers – US Session – 9 March
The American Dollar and commodity prices were sharply down on Wednesday amid hopes for a solution to the Ukraine-Russia crisis. Economic DataUS oil stockpiles fell across the board last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.9 million barrels in the week to March 4 …
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