Commodities

The US dollar kept advancing on Tuesday, posting the most advance against the Japanese yen. USD/JPY pair jumped to 116.34, its highest since January 2017, as the dollar surged alongside US bond yields. Demand for the US dollar retreated with Wall Street’s opening, as the dollar was ending the day …

The latest decision by OPEC+ Tuesday to stick to its planned increase in oil output for February largely reflects easing concern of a big surplus in the first quarter of 2022, as well as a wish to provide consistent guidance to the market.The producer group, which comprises of the Organization …

The XAU/USD Index has managed to hold above $1800, more gains could lead to a test of $1830. Gold prices are rising on Tuesday after strengthening during the American session even as US yields remain high. Gold recently climbed to 1814$, reaching a fresh daily high, trimming Monday’s losses and …

US manufacturing slowed in December amid some cooling in demand for goods, but supply constraints are starting to ease and a measure of prices paid for inputs by factories fell by the most since early 2020 when the pandemic disrupted economic activity.The Institute for Supply Management (ISM) said on Tuesday …

The Organization of the Petroleum Exporting Countries and its allies agreed to revive more of the suspended production as the prospects for global oil markets improve, amid expectations that demand will be able to withstand the repercussions of the new Coronavirus mutant. Delegates said the 23-nation coalition led by Saudi …

OPEC lowered its forecast for the excess supply of oil in global crude markets during the current quarter, a day before the group’s meeting scheduled for tomorrow, Tuesday. And according to internal research conducted by the group and its allies on Monday and reported by the “Bloomberg” agency, the oil …

Oil prices rose in trading on Tuesday, with investors expecting oil producers to boost supplies at Tuesday’s meeting, indicating that demand for fuel remains strong despite the spread of the Omicron mutant. Brent crude futures rose 43 cents to $79.05 a barrel, while US West Texas Intermediate crude recovered its …

Gold prices rose on Tuesday after rising US bond yields, supported by bets that the Federal Reserve would raise interest rates faster than expected, pushed the precious metal to its biggest drop in six weeks in the previous session. And gold rose 0.2 percent in spot contracts to $ 1804.40 …

OPEC and allies will have their twenty fourth meeting Tuesday to proceed with their plan to increase production by 400,000 barrels per month in January; the move was agreed to in December aiming at stabilizing the rising oil prices caused by low supply and global supply remains low. This may …

Three sources from the OPEC + group said that the alliance is closer to committing to its plans to increase production in February, with a slight and short-term impact on demand from the Coronavirus, Omicron is likely. In a technical report seen by Reuters on Sunday, OPEC+ downplayed Omicron’s impact …