June 21, 2023 12:26 pm
Key points WTI Crude trades within relatively narrow range Focus sets on Fed Chair Powell’s testimony API and EIA inventory data expected Futures on US West Texas Intermediate Crude Oil held steady on Wednesday as market focus sets on Fed Chair Jerome Powell’s congressional testimony later today and after official data showed UK inflation remained […]
Read moreJune 20, 2023 12:42 pm
Key points Gold, US Dollar move within tight ranges on Tuesday Market players wait for Fed Chair Powell’s testimony for rate path clues China gold demand to remain strong amid economic uncertainties – analyst Spot Gold and the US Dollar were mostly little changed on Tuesday, as market players were eyeing Federal Reserve Chair Jerome […]
Read moreJune 19, 2023 12:45 pm
Key points WTI Crude with small gains, erasing losses earlier in the session China data suggests recovery remains shaky US oil and gas rig count drops for 7th straight week OPEC+ output cut deal supports market Futures on US West Texas Intermediate Crude Oil were last edging up on Monday, erasing earlier losses, as investors […]
Read moreJune 12, 2023 8:59 am
Spot Gold traded mostly little changed at the start of the week amid investor caution ahead of the key US inflation data and the outcome of the Federal Reserve’s policy meeting. Markets are currently pricing in a 74% chance that the US central bank will keep the target range for the federal funds rate unchanged […]
Read moreJune 10, 2023 8:30 am
Key moments *Chevron, a U.S.-based oil company, plans to invest over $500 million in the Trapial block within the Vaca Muerta shale basin in Argentina’s western Neuquen province. *The investment announcement followed a meeting between Economy Minister Sergio Massa and Chevron officials. *The Trapial block covers an area of 109 square miles (283 square kilometers). […]
Read moreMay 31, 2023 9:06 am
Futures on US West Texas Intermediate Crude Oil retreated for a third consecutive trading day on Wednesday, as concerns over slowing demand in the world’s largest oil importer China overshadowed some progress in US debt ceiling talks. The latest macro data coming out of China showed manufacturing sector activity had shrunk at a steeper pace […]
Read moreMay 26, 2023 11:20 am
Spot Gold rebounded from a two-month low on Friday, but was still on track to register a third consecutive week of losses, as market players closely watched the progress of US debt ceiling talks as well as the Federal Reserve’s interest rate hike trajectory. The situation surrounding debt ceiling negotiations between U.S. President Joe Biden […]
Read moreMay 19, 2023 8:51 am
Futures on US West Texas Intermediate Crude Oil rose on Friday after an over 1% loss during the previous trading day on investor optimism the risk of a US debt default has diminished. “I think markets have been pricing out the risks of a U.S. debt default, which translates to a more risk-on environment,” Yeap […]
Read moreMay 5, 2023 8:32 am
Futures on US West Texas Intermediate Crude Oil surged more than 1% on Friday, but were still heading for their third consecutive weekly loss on concerns over a weakening US economy and slowing China demand. WTI Crude Oil Futures have retreated 9.39% so far this week, following another 1.20% loss in the prior week. Brent […]
Read moreApril 21, 2023 9:25 am
Spot Gold retreated on Friday on firmer US Dollar after some soft US data added to expectations that the Federal Reserve would probably put policy tightening on hold after hiking interest rates one more time in May. According to Ilya Spivak, head of global macro at Tastylive, the yellow metal has been moderating amid a […]
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