Commodities

Wall Street shares reversed earlier losses in choppy trading on Wednesday and U.S. Treasury yields hovered near highs for the year after data suggested the U.S. job market and consumer spending continued to improve.Oil prices were largely steady as investors questioned the effectiveness of a U.S.-led release of oil from …

U.S. crude oil stocks rose last week but gasoline and distillate stocks fell even as refining activity increased on strong overall fuel demand, the Energy Information Administration said on Wednesday.Crude inventories rose by 1 million barrels in the week to Nov. 19, compared with analysts’ expectations for a decrease of …

The minutes of the 3 November FOMC meeting, released on Wednesday, said that various participants noted that the Fed should be prepared to adjust the pace of the QE taper and raise rates sooner than currently anticipated should inflation continue to run hot. Additional takeaways: “Some participants suggested that reducing …

US natural gas futures rose over 2% to a one-week high on Wednesday on forecasts for slightly cooler weather and higher heating demand over the next two weeks than previously expected.That increase came even though near record output caused last week’s storage withdrawal to be smaller-than-usual, as expected.The US Energy …

The latest FOMC monetary policy meeting minutes, Wednesday, are expected to drive the USD demand and provide a fresh motivation to gold prices. Gold failed to maintain its intraday gains and turned lower for the fifth straight session as the stronger USD acted as a hindrance for the precious metal. …

The US 10-year yield has continued higher this week and is now very close to key support at 1.685/705%. A major base looks increasingly imminent. Economists at Credit Suisse look for a move above 2% into 2022.US 10-year Bond Yields are back pressuring key long-term support at 1.685/705% after medium …

Oil prices rose on Wednesday, extending gains from the previous day as investors remained skeptical about the effectiveness of a US-led move to draw down strategic oil reserves and shifted their focus to the next step for oil producers. Brent crude futures rose 13 cents, or 0.2 percent, to $ …

Gold prices rose marginally on Wednesday, despite the strength of the US dollar and speculation that the Federal Reserve will raise interest rates soon, keeping the metal below $1800. Spot gold rose 0.3% to $1,794.96 an ounce by 02:39 GMT, after losing 1.4% on Tuesday to its lowest since November …

Wall Street major indices edged lower with the exception of Dow Jones Industrial that was the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. Sector-wise, the main winners are energy, financials, and real-estate, rising 3.06%, 1.24%, and …

The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …