Tag Archives: Oil

The number of active drilling rigs in the United States last week rose by 7, bringing the total to 586 as oil prices remain relatively strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus.Last week’s count compared with a rig count rise of …

The White House has dimmed optimism over the Omicron batter after the US Food and Drug Administration approved a pair of pills from Pfizer and Merck to treat Covid-19. The White House has warned it will take more than six months to fulfil its initial order for Pfizer’s antiviral Covid-19 …

The US Congress, Monday, approved legislation to raise the debt ceiling by $2.5 trillion, in a move that is described as preemptive to any threat of a federal default until at least 2023. The federal government has never defaulted on debt payments.One Republican and all Democrats in the House voted …

It has been a big week for a number of major central banks worldwide. Central banks continuing to raise interest rates in an effort to tame inflation, largely dismissing for now the threat to economic growth posed by the spread of the Omicron variant. On ‘Super Thursday’ for central banks, …

Gold futures climbed back above the $1,800 mark on Friday to post their highest settlement in nearly four weeks. The precious metal’s rise above the key $1,800 level appears to be driven by broad capital flows leaving risk markets and moving into defensive havens such as gold.Gold (XAU/USD) advances for …

Gold was among the best performers, advancing for a second consecutive day and currently trading around $1,795 a troy ounce. Crude oil prices were also up, with the barrel of WTI currently trading at $72.50. European indexes posted substantial gains, but Wall Street was unable to follow the lead, and …

Oil, Crude, trading

Wednesday was the Fed’s big day. US stocks rose after Federal Reserve officials approved plans to speed up the withdrawal of the pandemic stimulus efforts, giving investors and traders more insight into the central bank’s response to hot inflation.All three major indexes turned higher after the afternoon release of a …

Oil, Crude, trading

Oil prices rose on Monday, extending the gains made last Friday, supported by growing optimism that the impact of the mutated Omicron strain of the Coronavirus will be limited to global economic growth and fuel demand. US West Texas crude rose 69 cents, or 1.0 percent, to $72.36 a barrel, …