Commodities

Oil prices fell below $79 a barrel on Friday, as a new increase in Covid-19 cases in Europe threatened to slow the pace of economic recovery, while investors weighed the possibility of a move by the world’s major economies to withdraw from their strategic stocks of crude to calm energy …

Two sources familiar with the matter said that the commitment of the OPEC+ group to oil production cuts amounted to 116 percent in October, up from 115 percent in September. This indicates that the group continues to produce within the framework of the agreed goals. The data showed that the …

US shares markets witnessed a mild improvement in trading sentiment, despite printing a mixed daily performance for Thursday. The reason could be linked to the strong US data and comments from the Fed policymakers, as well as a pullback in the US inflation expectations and the Treasury yields.The Dollar Index’s …

Governments from a number of the world’s biggest economies said on Thursday they are considering the release of oil from their strategic reserves.The announcements follow a rare request by the United States for a coordinated move to ease global energy prices and ahead of a meeting of major oil producing …

Because of the strict constitutional ceiling on borrowing, Germany has become more like those internet users who see advertisements promising lose-weight tricks or acquire millions.To meet its climate obligations and upgrade its digital infrastructure, Germany needs to get prepared for €50bn ($57bn) a year in public investment.But a “debt brake” …

Despite all the challenges ahead, Fed’s Evans said he remained optimistic for 2022. Chicago Fed President Charles Evans said on Thursday that he expects good momentum for the US economy to continue well into 2022.Evans expects the labour sector to continue to improve next year as more and more people …

Traders have hiked their preliminary forecasts for US consumer price inflation over the next few months, and now widely see annual headline figures coming in at 7% or higher into early next year.Fixings, which trade as derivatives on the likelihood of where future consumer price index levels will land, are …

Eurozone inflation will ease next year and there is no sign that investors or consumers expect runaway prices in the medium term, the European Central Bank’s chief economist said on Thursday.“We’re not seeing expectations de-anchoring to the upside,” Lane told an online event hosted by the U.S. Federal Reserve.“Right now …

The Tenth District Manufacturing Survey’s Composite Index fell to 24 in November versus 31 in October. The latest index came in at 24, down 7 from last month’s 31, indicating continued expansion in November, but at a slower pace according to Kansas City Fed.The future outlook ticked up to 35. …

The US EIA has reported a 26-billion-cubic-foot weekly climb in natural-gas supplies. The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 26 billion cubic feet for the week ended Nov. 12. IHS Markit had forecast an increase of 24 billion cubic feet. Total …