Market Update

After a surprising agreement by OPEC+ to reduce additional output, oil prices soared on Monday, registering their largest daily increase in over a year. After reaching its highest price in a month at $86.44, Brent crude was up $4.91, or 6.2%, to $84.80 a barrel as of 12:15 GMT. After …

After a surprising agreement by OPEC+ to reduce additional output, oil prices soared on Monday, registering their largest daily increase in over a year. After reaching its highest price in a month at $86.44, Brent crude was up $4.64, or 5.8%, to $84.53 a barrel as of 11:15 GMT. After …

Turkish factory activity continued to grow in March, with both new orders and production increasing despite the continuing repercussions of the devastating earthquakes that hit the country in February on the sector. According to the Istanbul Chamber of Industry and Standard & Poor’s Global, the purchasing managers’ index in the …

The dollar rose on Monday as fears about inflation returned after the surprise announcement by major oil producers to cut production further. The announcement by the Organization of the Petroleum Exporting Countries and its allies, in what is known as the OPEC + group, came after data showed on Friday …

Gold prices fell on Monday after a surprise announcement by OPEC+ to cut oil production raised concerns about inflation and increased bets on a rate hike at the next Federal Reserve meeting in May. Spot gold prices fell 0.8 percent to $1951.37 an ounce by 0401 GMT, the lowest level …

Despite a spike in oil prices, investors remained cautious about a potential rise in inflation over the upcoming months as the majority of Asian equities edged up on Monday as risk appetite maintained in response to softer-than-expected U.S. inflation data from the previous week. After Beijing launched an investigation into …

The sudden declaration by OPEC+ to further reduce output in what top producer Saudi Arabia called a precautionary move to protect market stability sent oil prices soaring on Monday. Brent oil reached its highest price in a month at $86.44 earlier in the day. At 03:47 GMT, it was trading …

Wall Street rose on Friday, with the Nasdaq index posting its biggest quarterly percentage gain since June 2020, after signs of easing inflation raised hopes that the Federal Reserve would soon end its aggressive campaign to raise interest rates. The Standard & Poor’s 500 Index posted gains for the second …

After Friday’s inflation figures, the US Dollar rose against the Euro, but the American currency was still on course for a weekly loss.Economic DataThe University of Michigan’s consumer confidence index reported a score of 62 points in March, down from the previous reading of 63.4 points, which was lower than …

According to the US Department of Commerce, PCE was lower than expected, which sparked rumours about Fed’s next move. Once several oilfields in the Kurdish area in northern Iraq saw their output decrease, oil prices increased.After reaching a YTD low of $64.41, WTI, the US crude oil benchmark, is expected …