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 …
Read More »UAE Energy Minister: I Am Not Concerned About Oil Price Expectations in The Short Term
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 …
Read More »Market Drivers – US Session – 18-01-2022
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 …
Read More »Commodities Giant Glencore Hits Decade High on Price Boom
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 …
Read More »WTI Eases Back To $85.00 Level
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 …
Read More »Gold Upset By Soaring US Treasury Yields
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 …
Read More »Gold Prices Are Marginally Lower as The Yield on US Treasuries Rises
Gold prices fell marginally during trading today, Tuesday, amid the rise in the yield on US 10-year Treasury bonds to the highest level in two years, and with the follow-up to developments in monetary policy. Investors’ eyes are still heading towards the Federal Reserve’s monetary policy meeting, scheduled for the …
Read More »Meet Mohamed Hashad on Dubai TV 01/17/2022
Director of Research and Development at Noor Capital and member of the US Association of Professional Technical Analysts, Mohamed Hashad, was interviewed Monday morning by Dubai Channel to comment on the most outstanding developments in the financial markets during the second week of 2022, as oil continued to reap gains …
Read More »WTI Holds Support Around $84.00 AS Physical Market Builds
Amid holiday-thinned trading conditions with US markets shut for MLK Day, oil prices have been broadly stable on the first trading session of the week, with front-month WTI futures subdued near $84.00 per barrel.Prices hit a fresh two-month high in the $84.70s early on during Asia Pacific trade, but profit-taking …
Read More »Oil Rises on Supply Fears And Limited Impact on Omicron
Oil prices rose on Monday, with Brent futures reaching their highest levels in more than three years, as investors bet that supplies will remain limited due to pressures on production from major producers, while global demand was not affected by the spread of the new mutant Omicron from the Coronavirus. …
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