Commodities

OPEC+ sources told Reuters that it is likely that OPEC and its allies will stick to their current agreement to add 400,000 barrels per day of oil to the market in November, despite pressure from consumers to calm a market witnessing heavy demand for oil. Ministers of the Organization of …

As the looming energy crisis stirs up old inflation fears, stagflation risk is back in the market, carrying some good news for gold, which proved this week that there is strong buying interest below the USD 1,750 per ounce level, according to analysts.After falling towards USD 1,720 per ounce mid …

China has ordered its top energy companies to secure winter supplies at all costs. The orders come with growing energy crisis in the country. The Chinese directive was issued during an emergency meeting presided by head of China’s energy section and industrial production Vice Premier Han Zheng.Zheng called all the …

Oil is trading at USD 75.08 a barrel for WTI and at USD 77.70 for Brent on Thursday.The global energy crisis impacted China’s economy, however, since China came out to express preparedness to pay top dollar to secure more supply and issued orders to energy suppliers to stock up, oil …

West Texas Intermediate futures have bounced up to USD 75.70 on China’s measures to secure supplies.Crude oil futures have turned positive on daily charts. Oil prices lost ground following an unexpected increase in U. S. inventories.Oil prices have bounced more than USD 2 in less than an hour, erasing previous …

Oil futures extend losses as EIA reports increases in U.S. crude, gasoline and distillate supplies. The energy sector is currently experiencing mixed to lower start, supported by strength in the major equity futures and pressured by weakness across the most important commoditiesWTI and Brent crude oil futures continued to inch …

Oil prices have jumped above $80 for the first time since 2018, this development is handing a major boost to producers but is simultaneously fuelling more inflationary pain for consumers.Global supplies are disrupted because U. S. production is still hampered by ongoing fallout from Hurricane Ida in Louisiana and the …

Sources said that OPEC+ will likely stick to an existing agreement to add 400,000 barrels per day to its production in November when it meets next week, despite the fact that oil reached its highest level in more than three years above $ 80 a barrel and pressure from consumers …

Gold prices rose, as a slight decline in US Treasury yields provided some support in the face of growing expectations of a faster-than-expected hike in US interest rates that also pushed the dollar to a multi-month peak. And gold rose in immediate transactions 0.3 percent to $ 1739.34 an ounce, …

The world economy is encountering a significant increase in forces resulting in simultaneous increase in inflation and stagnation of economic output, as surging energy prices boost inflation and, accordingly, slow the recovery from the recession that has been among the major impacts of the pandemic.Crude pushed past $80 for the …