`Crude oil prices have been uneven during recent trading but continue to trade with a positive bias on the day.Front-month futures contracts for the U. S. WTI, currently trades close to $82.00/barrel, having swung between the $81.30-$82.60 at various points throughout the U. S. session. WTI currently trades with on-the-day …
Read More »Green Economy Commodities Atop China’s Supercycle
The surge in the prices of commodities has been unprecedented since mid-2020, predictably resulting in calls that a new supercycle is proceeding. Supply-demand imbalances are plaguing the globe and boosting prices further. But one topic that is gaining more and more significance in 2021 is that a number of commodities …
Read More »Can Biden Bend OPEC Meeting to Washington’s Will?
While U. S. President Joe Biden and other world leaders in Glasgow continue efforts to fight climate change, OPEC ministers meet today under mounting pressure from Washington, New Delhi and Beijing to pump more crude oil, and here lies a significant paradox.OPEC meeting, Thursday, is poised to defy the U. …
Read More »Oil Fell to Its Lowest Level in Two Weeks
Oil prices fell to their lowest level in two weeks after official data showed a sudden jump in US crude stocks, and with the increase in Covid-19 cases in Europe and Russia and the emergence of some hotbeds of infection in China, dampening hopes for an economic recovery. Brent crude …
Read More »WTI bounces up to highs near $84.00
WTI futures have bounced up to $82.50. the U. S. crude oil regained previous losses to return to levels near multi year highs at $83.95.Crude prices remain within previous ranges, consolidating after a nine week surge, however, oil prices retreated earlier today as the German Chancellor, Angela Merkel, and Federal …
Read More »Crude oil higher after data driven pressure
Oil prices were little changed on Tuesday, with West Texas Intermediate, the U.S. benchmark, hovering around $81.60 a barrel. Oil futures are at seven-year highs and are up 70 percent this year amid a global energy crunch that is pushing prices higher for other commodities.Following a mixed session Monday triggered …
Read More »EUR/JPY remains firm against 132.75
Euro has ticked up, Monday, against the Japanese yen, for the eighth successive trading session, although it has failed to advance beyond the four-month high at 132.75 hit last Friday. The pair, however, maintains its positive bias intact, with bearish attempts contained above 132.15.The euro remains strong against an ailing …
Read More »The Chinese Economy is Faltering Due to The Electricity Crisis And Real Estate
China’s economy posted its slowest pace of growth in a year in the third quarter, weighed down by electricity shortages, supply chain bottlenecks, major fluctuations in the real estate market, and increasing pressure on policymakers to do more to support a faltering recovery. Data published on Monday showed gross domestic …
Read More »Market Drivers – U. S. Session 14-10-2021
Once again, on Thursday, inflation related concerns were steering investors’ decisions on picking safe haven assets away from interest bearing investments.Speaking to a virtual gathering of the Euro50 Group on Thursday, St. Louis Fed President James Bullard described the inflation trend as “concerning.”U.S. shares surged Thursday reacting to banks’ strong …
Read More »Yellen: Scandal could hamper IMF’s credibility
The United States will review any new developments in Georgieva matter and Biden’s administration calls for institutions to better protect whistle-blowers. U. S. Treasury Secretary Janet Yellen warned that a scandal over the credibility of rankings of countries’ business climates could hurt confidence in the International Monetary Fund and World …
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