Oil prices remained stable on Friday but are poised to end the week lower due to concerns over weakening U.S. employment data and ongoing ceasefire discussions in Gaza, which eased fears of supply disruptions. Brent crude futures rose by 16 cents (0.2%) to $77.38 per barrel by 0642 GMT.U.S. West …
Read More »Gold Prices Edge Higher Amid Market Caution Ahead of Powell’s Speech
Gold prices rose in Asian trading on Friday, recovering slightly from a steep drop in the previous session. The yellow metal remained supported by cautious sentiment as markets awaited an important address by Federal Reserve Chair Jerome Powell later in the day, which is expected to provide more clarity on …
Read More »Gold Prices Retreat from Record Highs Amid Profit-Taking and Dollar Rebound
Gold prices pulled back from record highs in Asian trade on Thursday, as the yellow metal’s rally cooled. The market remains focused on potential U.S. interest rate cuts and rising recession fears, which have created a volatile environment for precious metals. After surging to unprecedented levels earlier in the week …
Read More »Oil Prices Decline Amid Rising U.S. Crude Inventories and Easing Middle East Tensions
Oil prices edged lower on Wednesday, influenced by growing U.S. crude inventories and indications that tensions in the Middle East may be easing after a diplomatic tour of the region by key mediators. Brent crude futures dipped by 11 cents, or 0.1%, to $77.09 a barrel by 0630 GMT, while …
Read More »Gold Prices Steady After Record Highs as Rate Cut Bets Fuel Demand
Gold prices stabilized in Asian trading on Wednesday, following a series of record highs earlier in the week. The yellow metal has been buoyed by increasing expectations of lower U.S. interest rates, which have weakened the dollar and driven more investment into gold. As of 00:51 ET (04:51 GMT), spot …
Read More »The China Hangover: A Global Economic Headache
China’s rapid ascent from a developing nation to a global economic powerhouse in the early 21st century was nothing short of astonishing. Fueled by massive investments and a seemingly insatiable appetite for commodities, the country became the world’s factory and a key driver of global growth. This era witnessed a …
Read More »Market Drivers; US Session, August 15
The US Dollar experienced a volatile trading session, closing mixed against major currencies. Positive US economic data, including strong employment and retail sales figures, alleviated recession fears and boosted investor sentiment. While other economic indicators were less favorable, they were insufficient to reignite market concerns or impact expectations for a …
Read More »World’s Largest Oil Platform Built By China
The recent construction of the world’s largest offshore oil platform by China for Saudi Arabia’s Marjan field is a striking testament to the enduring significance of fossil fuels in the global energy landscape. This behemoth, capable of producing millions of barrels of oil daily, stands in stark contrast to the …
Read More »A Closer Look on China’s Oil Demand, Latest Outlook by OPEC+
China’s recent dip in oil imports is a puzzle with many pieces. It’s not simply about weaker demand; there’s a bigger story unfolding.For starters, China’s been busy filling its strategic oil reserves. Think of it as a nation stocking up for a rainy day, much like a homeowner preparing for …
Read More »Oil Extends Gains for Fifth Consecutive Session Amid Mideast Tensions and Supportive U.S. Data
Oil prices extended their upward momentum on Monday, marking a fifth consecutive session of gains, driven by easing U.S. recession fears and escalating geopolitical tensions in the Middle East. The market continued to build on last week’s strong performance, which saw more than a 3% rise in prices. Brent crude …
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