Commodities

EU member states are divided over whether or not to implement a ban on Russia oil imports. Officials have added that Poland and other EU states are pushing for the ban and Germany is facing growing pressure. Oil had its biggest daily swing ever with Brent surging to near USD …

Gold Price retreats from a fresh multi-month high and filled the weekly opening gap. As the US braces for Russian oil import ban even without allies, UK Defense Chief hints at further violence in Kyiv. Gold price bounced from an intraday low of $1,960.95, quickly recovering roughly $15 per troy …

Oil prices jumped on Monday to their highest levels since 2008 due to supply concerns due to the announcement by the United States that it is studying with its European allies a ban on the import of Russian oil and the possible delay in the return of Iranian crude to …

Russia’s largest lender Sberbank is quitting almost all European markets, blaming significant cash outflows and threats to its staff and property following Russia’s invasion of Ukraine and Western sanctions. The bank said it could no longer supply liquidity to European subsidiaries following an order from Russia’s central bank, which is …

On Monday, gold prices crossed the $2,000 mark for the first time in a year and a half as investors sought that safe haven in the wake of the escalating Russia-Ukraine crisis while fears of a halt in palladium supplies pushed to an all-time high. And gold rose in spot …

Oil prices rose more than ten percent in frantic trading on Monday due to fears of a US and European embargo on Russian oil and delays in Iran’s nuclear talks. Brent price rose $12.73 to $130.84, while US crude rose $9.92 to $125.60. And after Brent crude rose 21 percent …

The forex markets ended the week’s trading negatively, especially after Russia bombed one of the largest nuclear power plants in Ukraine. The US dollar ended the trading on significant gains, taking advantage of the war in Ukraine, in addition to the speech of Jerome Powell, Chairman of the Board of …

The US dollar has benefited from two main things ; firstly, it is looked upon as a safe-haven currency, meaning this week’s choppy equity market conditions weighed on GBP/USD. Secondly, though the BoE does have a head start versus the Fed having kicked off its hiking cycle at the end …

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was down by three to 519 this week. That followed increases in each of the last five weeks, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, …

In a buoyant sign for the US economy, businesses stepped up their hiring last month as Omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation.Employers added a robust 678,000 jobs in February, the largest monthly total since July, the Labor Department reported …