Commodities

Tesla’s good news covers growth despite shortage of microchips and Q3 impressive sales. U.S. dealers delivered 446,997 vehicles in the U.S. in the third quarter of 2021, down 218,195 units, or almost 33%. On the contrary, Tesla delivered 241,300 vehicles in the third quarter, up about 73% compared with the …

A strong spontaneous rise in the US bond yields prompted new selling around gold on Monday. The risk-off impulse, a broad-based USD weakness would help limit deeper losses as uptrend potential appears limited above $1750.After managing to close the previous week in the positive territory, gold got lower during the …

Oil prices on Monday hit seven-year high after OPEC+ opted to adopt their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. Crude prices jumped by three per cent, or $2.32, to $78.17 on the New York Mercantile Exchange, the …

Newly elected Japanese Prime Minister Fumio Kishida said Monday he will dissolve the lower house next week in preparation for 31 October elections as he seeks a fresh mandate to deal with the coronavirus pandemic, the sagging economy and security threats from China and North Korea. Kishida was formally elected …

The Canadian dollar strengthens 0.7% against the U. S. counterpart. The Canadian currency has touched its strongest level since 7 September 1.2561 as U.S. oil price has climbed by 3% and the Canadian bond yields rise across a steeper curve. The Canadian dollar on Monday strengthened to its highest level …

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 …