July 19, 2023 12:55 pm
Key points China growth support pledge reinforces oil demand prospects Macro data add to expectations Fed may be nearing end of tightening cycle US crude oil stocks decrease last week – API Futures on US West Texas Intermediate Crude Oil gained for a second straight day on Wednesday, supported by expectations that the Fed is […]
Read moreJuly 17, 2023 12:16 pm
Key points WTI Crude extends losses from last Friday Weaker-than-expected Chinese GDP fuels demand worries amid sluggish recovery Output resumption at two key Libyan oilfields adds to pressure Futures on US West Texas Intermediate Crude Oil retreated for a second straight day on Monday, after disappointing Chinese economic growth data raised concerns about demand in […]
Read moreJuly 14, 2023 9:49 am
Key points Spot Gold at 1-month high, heads for best week since April US Dollar hovers above 15-month low on Fed rate peak bets Gold profit-taking possible at current levels – expert Spot Gold looked set to register its best weekly performance since early April, as investors bolstered wagers that the Federal Reserve would likely […]
Read moreJuly 13, 2023 12:25 pm
Key points WTI Crude extends gains from earlier in the week US inflation data suggests Fed nearing end of policy tightening Oil demand to reach record high this year – IEA Futures on US West Texas Intermediate Crude Oil extended gains on Thursday, after the latest US CPI inflation data suggested interest rates were nearing […]
Read moreJuly 11, 2023 12:07 pm
Key points WTI Crude with sizable gains OPEC+ supply cuts, weaker US Dollar support market H2 demand prospects also favor oil prices Futures on US West Texas Intermediate Crude Oil edged higher on Tuesday, supported by a weaker US Dollar, supply cuts by top oil exporters and prospects of stronger demand in developing nations during […]
Read moreJuly 10, 2023 12:28 pm
Key points Spot Gold trades in narrow range Traders await US CPI inflation report for more clues on rate hike trajectory Firmer USD weighs on dollar-priced Gold Spot Gold remained confined within a tight trading range on Monday after a sharp gain witnessed last Friday, as the US Dollar firmed, recouping part of Friday’s losses. […]
Read moreJuly 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. […]
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