July 6, 2023 12:08 pm
Key points WTI Crude with small gains OPEC+ supply cuts, US crude oil stock drop support market Macroeconomic outlook uncertainty continues weighing on oil prices Futures on US West Texas Intermediate Crude Oil gained slightly on Thursday, as market players weighed tighter supply against concerns over global economic downturn. Saudi Arabia, OPEC+ largest producer, said […]
Read moreJuly 4, 2023 9:58 am
Key points WTI Crude rises, reversing a loss in the prior session Saudi Arabia to extend output cut to August Macroeconomic outlook uncertainty weighs on market Futures on US West Texas Intermediate Crude Oil surged on Tuesday, as market players weighed OPEC+ supply tightening measures against a global macroeconomic uncertainty. Saudi Arabia, OPEC+ largest producer, […]
Read moreJuly 3, 2023 12:42 pm
Key points Spot Gold just above 15-week trough Traders await FOMC minutes for more clues on rate hike path Firmer USD, higher bond yields pressure dollar-priced Gold Spot Gold edged lower on Monday on firmer US Dollar and higher US bond yields, as this week’s focus sets on the minutes of the Federal Reserve June […]
Read moreJune 30, 2023 12:40 pm
Key points WTI Crude heads for 2nd quarterly loss, Brent set for 4th quarterly drop Macroeconomic concerns weigh on market US oil inventory drop, OPEC+ deal support prices Futures on US West Texas Intermediate Crude Oil were set to register a 7.7% quarterly loss amid lingering concerns over global economic growth and fuel demand respectively. […]
Read moreJune 29, 2023 12:09 pm
Key points WTI Crude erases earlier losses, but gains seem limited US oil inventories decrease more than expected – EIA Rate hike concerns, weak China data weigh on oil prices Futures on US West Texas Intermediate Crude Oil erased earlier losses and edged higher on Thursday, as investors weighed a larger-than-anticipated drop in US oil […]
Read moreJune 28, 2023 11:49 am
Key points WTI Crude recoups part of loss in the previous session US oil inventories decrease more than expected – API Data offsets rate hike concerns Futures on US West Texas Intermediate Crude Oil rose on Wednesday on the back of steeper-than-anticipated decrease in US crude stocks, which indicated fuel demand remained strong. The latest […]
Read moreJune 27, 2023 12:34 pm
Key points WTI Crude retreats more than 1% US oil inventory data in focus – API, EIA Market shrugs off recent geopolitical events Futures on US West Texas Intermediate Crude Oil retreated on Tuesday, as market players looked to incoming US inventory data for clues over fuel demand during the busy summer driving season. The […]
Read moreJune 26, 2023 12:47 pm
Key points Spot Gold rebounds from 14-week trough Geopolitical worries surrounding Russia underpin safe haven demand A drop in USD also supports dollar-priced Gold Speculators increase net long position in COMEX Gold Spot Gold gained for a second straight day on Monday, as geopolitical developments that unfolded in Russia this weekend prompted some market players […]
Read moreJune 23, 2023 12:32 pm
Key points WTI Crude heads for a weekly decline Aggressive monetary policy tightening brings forth growth concerns, underpinning risk-off assets Demand concerns outweigh latest EIA inventory data Futures on US West Texas Intermediate Crude Oil plunged for a second consecutive trading day on Friday and were set for a weekly loss, as rate hike-driven economic […]
Read moreJune 22, 2023 12:29 pm
Key points Spot Gold hovers above recent 3-month low Fed Chair Powell indicates more hikes to come to curb inflation BoE hikes rates by 50 bps to 5%, the highest since 2008 crisis Spot Gold traded near recent three-month trough on Thursday after Federal Reserve Chair Jerome Powell indicated more tightening was likely to rein […]
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