May 5, 2022 7:37 am
Futures on US West Texas Intermediate Crude Oil extended gains in a volatile trading session on Thursday as a new sanctions proposal by the European Union against Russia overshadowed China demand worries. The proposal, announced by European Commission President Ursula von der Leyen, includes phasing out Russian crude oil supplies in 6 months and refined […]
Read moreApril 29, 2022 9:00 am
Spot Gold rebounded from a 10-week low on Friday as the US Dollar eased from a fresh over 19-year peak. Yet, the precious metal was on track for its first monthly drop since January, as investors bet on aggressive interest rate hikes by the Federal Reserve. On the other hand, some analysts believe that the […]
Read moreApril 21, 2022 7:58 am
Futures on US West Texas Intermediate Crude Oil rose more than 1% in volatile trade on Thursday, with the market affected by supply concerns stemming from potential European Union ban on Russian oil and after an announcement by Libya of decreased oil output. “EU discussions to ban or phase out Russian oil purchases, the biggest […]
Read moreApril 8, 2022 9:13 am
Futures on US West Texas Intermediate Crude Oil were set for a second straight week of losses, as the planned release of 240 million barrels from consuming nations’ emergency oil stocks outweighed supply concerns stemming from western sanctions on Russia. According to analysts, the emergency oil release of nearly 1 million barrels per day from […]
Read moreMarch 31, 2022 7:48 am
Futures on US West Texas Intermediate Crude Oil retreated more than 4% on Thursday, as the United States is weighing the release of up to 180 million barrels from its strategic petroleum reserve over a few months to curb skyrocketing oil prices. According to a report by Reuters, US President Joe Biden is expected to […]
Read moreMarch 24, 2022 10:07 am
Futures on US West Texas Intermediate Crude Oil edged lower in another volatile trading session on Thursday, as investors weighed the possibility of new supply entering the market amid prospects of a new Iran deal and intensifying supply disruption concerns related to Russia-Ukraine military conflict. Yesterday White House national security adviser Jake Sullivan said the […]
Read moreMarch 11, 2022 9:33 am
Spot Gold was a notch weaker on Friday, pressured by higher US Treasury yields after red-hot CPI inflation numbers reported yesterday. US 10-year bond yields soared overnight after the latest report by the Bureau of Labor Statistics showed annual consumer price inflation had accelerated to 7.9% in February, in line with market expectations and also […]
Read moreMarch 10, 2022 9:34 am
Futures on US West Texas Intermediate Crude Oil rebounded on Thursday after an over 12% decline in the prior session, the biggest single-day drop since November, as market players were weighing if key oil producers would increase supply to fill the output gap stemming from sanctions on Russia after its incursion into Ukraine. Russia is […]
Read moreMarch 4, 2022 10:06 am
Spot Gold edged higher and the US Dollar advanced to highs unseen since June 2020 on Friday following reports of a Russian strike on a Ukraine nuclear power plant that further fueled concerns of energy shortages. Ukraine said that Russian military forces assaulted its Zaporizhzhia nuclear power plant earlier on Friday, while setting an adjacent […]
Read moreFebruary 25, 2022 9:47 am
Futures on US West Texas Intermediate Crude Oil eased from a fresh 91-month high on Friday, but were still poised for a sharp weekly advance due to fears over global supply disruptions stemming from trade sanctions on Russia after it assaulted neighboring Ukraine. Russia is the second-largest crude oil producer worldwide and a key provider […]
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