Commodities

China, the world’s second largest economy, should review its zero-tolerance approach to the pandemic or risk damaging the global recovery, according to the head of International Monetary Fund.Kristalina Georgieva said Beijing should reassess the use of lockdowns to limit the spread of the highly contagious Omicron variant since it became …

US energy firms this week cut oil rigs for the first time in 13 weeks after crude prices fell for six weeks in a row from late October-early December. Oil prices, meanwhile, have recovered and traded at their highest since 2014 this week. Energy analysts said it usually takes about …

Oil prices fell on Friday, January 21, after rising to a seven-year high this week, as an increase in US crude and fuel inventories prompted investors to cash in on the rally. Gasoline stocks rose in the United States, the world’s largest oil consumer, by 5.9 million barrels, to the …

The US dollar traded with a soft tone on Thursday, ending the day mixed across the board. The EUR was among the weakest, while the AUD and the CAD were the strongest. Economic DataDisappointing US employment-related figures were behind the broad dollar’s weakness at the beginning of the American session, …

On Thursday, gold price is trading almost unchanged on the day around 1,843, as it fades its uptick from fresh two-month highs of $1,848. The latest leg down in gold price could be associated with a tepid bounce seen in the US Treasury yields, which helps put a fresh bid …

Front-month WTI futures have leapt above their previous intra-day USD 85.00- 86.00 per barrel trading range to hit highs in at USD 87.00 in recent trade and, at current levels near USD 86.50, now trade back in the green territory on the day. WTI crude oil still trades about USD …

Gold prices held near two-month highs on Thursday as falling US Treasury yields and a weaker dollar spurred investor appetite, fueled by concerns about inflation and political tensions. Gold in spot transactions fell 0.2 percent to $1836.80 an ounce by 1102 GMT, after hitting its highest level since November 22 …

According to data from the American Petroleum Institute, crude oil inventories in the United States increased by 1.4 million barrels during the week ending on the fourteenth of January. In its weekly report, the American Institute indicated that gasoline stocks increased by 3.5 million barrels during the past week, while …

Demand for the US dollar eased on Wednesday, with the American currency edging lower against most major rivals. Losses were limited across the major currencies, with gold outstanding amid rallying beyond $1,840 an ounce, its highest since last November.US Treasury yields inched higher at the beginning of the day to …

Operating on a one-day delay due to the U.S. holiday, the American Petroleum Institute (API) estimated the inventory build this week for crude oil to be 1.404 million barrels after analysts predicted a draw of 1.367 million barrels.U.S. crude inventories shed some 74 million barrels since the start of 2021, …