Commodities

Gold’s upside momentum has waned in recent trade, with prices trading near $1842 after bursting above resistance in the low $1830s and then subsequently $1840 for the first time in over two months. The speed of spot gold’s latest advances, especially between the $1830 to $1840 area, is suggestive of …

Iraq-Turkey pipeline outage has sparked fresh supply concerns. WTI crude has hit $87.82 for the first time since September 2014 on Wednesday. A momentary outage of an Iraqi-Turkish pipeline was attributed as driving the most recent oil price gains.But the broader themes of tighter than expected market conditions and rising …

Oil prices rose on Wednesday for the fourth consecutive day after a pipeline fire from Iraq to Turkey briefly halted supplies, raising concerns about an already-existing outlook for near-term tightness. Brent crude futures rose 48 cents, or 0.6 percent, to $ 87.99 a barrel by 1245 GMT, after rising 1.2 …

Gold prices rose on Wednesday, but moves were limited as markets looked ahead to the upcoming Federal Reserve meeting as it is widely expected to raise interest rates in an attempt to contain rising inflation. Gold in spot transactions rose 0.2 percent to $ 1817.90 an ounce by 1217 GMT, …

The Emirates News Agency quoted Energy Minister Suhail Al Mazrouei as saying on Wednesday that his country is committed to supporting the OPEC+ alliance to achieve a balance between supply and demand. The agency also quoted the minister as saying that the UAE is working to establish a platform for …

UAE Energy Minister Suhail Al Mazrouei said on Wednesday that he is not concerned “in the short term” when asked about analysts’ expectations that oil prices will exceed $100 a barrel. The price of the benchmark Brent crude contract rose 0.33 percent on Wednesday to $ 87.76 a barrel, with …

The US dollar has been the most prominent winner, and performed up against all major rival currencies. US Treasury yields soared to fresh highs with the yield on the 10-year note reaching 1.856% and that on the 2-year note surpassing 1%, and consequently impacting gold prices. At $1,813.56, gold is …

Shares of the mining and trading giant hit highest since 2012 as demand prospects fuel talk of years-long commodity super-cycle.Commodities giant Glencore Plc hit the highest in almost a decade, driven by rallies in everything from metals to coal and optimism for a years-long super-cycle.The world’s biggest commodity trader surpassed …

After hitting multi-year highs near the $86.00 per barrel level, WTI has since backed off to trade around $85.00. Market commentators have attributed rising geopolitical tensions in the Middle East as behind the latest push higher.After hitting multi-year highs early on during the European trading session near the $86.00 per …

US Treasury yields jumped overnight with the interest-rate sensitive 2-year printing a fresh 23-month high of 1.05%, while the benchmark 10-yearhit 1.83%, a level last seen in January 2020. Market expectations that the Federal Reserve will hike rates four times this year, by 25bps each time, and that the central …