January 13, 2022 10:10 am
Futures on US West Texas Intermediate Crude Oil eased from recent two-month peak on Thursday on demand uncertainty in the near term amid continuing surge in new Omicron infections around the world. Yesterday oil prices scaled highs unseen since mid-November after US crude oil stocks were reported to have dropped to their lowest level since […]
Read moreJanuary 7, 2022 11:25 am
Spot Gold was mostly steady on Friday and was heading for its steepest weekly loss since late November ahead of the keenly anticipated US Non-Farm Payrolls data, with the precious metal being pressured by higher Treasury yields. Benchmark US 10-year bond yields remained in proximity to highs not seen since March 2021, while increasing the […]
Read moreJanuary 6, 2022 10:36 am
Futures on US West Texas Intermediate Crude Oil eased from a fresh six-week peak on Thursday after the United States reported a larger-than-expected fuel inventory build. The official report by the US Energy Information Administration (EIA) showed on Wednesday gasoline inventories had increased by 10.128 million barrels during the week ended December 31st, or the […]
Read moreDecember 30, 2021 10:21 am
Futures on US West Texas Intermediate Crude Oil snapped a six-day streak of gains on Thursday, as China lowered the first batch of import quotas for 2022 to independent refiners by 11% below the comparable year-ago quota. Some analysts expressed concerns that the Chinese government could take stricter actions against refiners. US Crude Futures rose […]
Read moreDecember 17, 2021 10:12 am
Futures on US West Texas Intermediate Crude Oil retreated on Friday, following two straight trading sessions of gains, and were heading for a weekly loss on concerns the rapid spread of the Omicron coronavirus strain may lead to new restrictions that could affect fuel demand. In countries such as South Africa, the United Kingdom and […]
Read moreDecember 10, 2021 11:31 am
Spot Gold was heading for its fourth consecutive week of losses and the US Dollar firmed as market players were cautious ahead of the key US CPI inflation data for November, scheduled to be released at 13:30 GMT today. A high inflation reading could urge the Federal Reserve policy makers, which are to hold a […]
Read moreDecember 3, 2021 11:07 am
Spot Gold looked set to register its third straight week of losses, pressured by Federal Reserve Chair Jerome Powell’s comments that the bank’s bond-purchasing program could end sooner than previously expected. “An incredibly hawkish tone of the Fed chair, coupled with the prevailing U.S. dollar strength are two things combining to take the shine off […]
Read moreNovember 26, 2021 12:02 pm
Spot Gold surged on Friday as concerns about an impact on global economic recovery because of the spread of a new variant of the coronavirus identified in South Africa, triggered a flight to safety. “Markets fear this new variant could weigh more strongly on the economy than the Delta variant discovered a year ago and […]
Read moreNovember 25, 2021 11:10 am
Futures on US West Texas Intermediate Crude Oil retreated for a second straight trading day on Thursday, as market players were awaiting major producers’ response to the emergency crude release by key oil-consuming countries, purposed to push prices down. The Organization of the Petroleum Exporting Countries, Russia and allies (OPEC+) will meet on December 1st-2nd […]
Read moreNovember 18, 2021 10:02 am
Futures on US West Texas Intermediate Crude Oil hit a fresh 1 1/2-month trough on Thursday as China announced it was taking steps to release crude oil reserves. The announcement followed a report by Reuters that the United States has asked key crude oil consumers to consider a coordinated release of stockpiles in order to […]
Read more