July 1, 2021 8:54 am
Futures on US West Texas Intermediate Crude Oil rose over 1% on Thursday after a drop in US crude oil stocks, while market players awaited a decision by the Organization of the Petroleum Exporting Countries and allies (OPEC+) on supply cuts during the second half of 2021. Last year, OPEC+ members agreed to record production […]
Read moreJune 25, 2021 9:02 am
Spot Gold rose on Friday and was on track to register its first gain in four weeks, since the US Dollar pulled back from last week’s more than two-month peak, while there have been mixed signals from Federal Reserve officials in regard to the bank’s policy outlook. Markets are also expecting the key data on […]
Read moreJune 24, 2021 8:28 am
Futures on US West Texas Intermediate Crude Oil extended gains on Thursday following a sharper-than-anticipated drop in US crude oil and gasoline stockpiles, which reinforced outlook for strong fuel demand. Additionally supporting prices was the uncertainty surrounding the 2015 Iran nuclear deal, which could lift US sanctions on Iran’s crude exports. An official report by […]
Read moreJune 18, 2021 8:32 am
Spot Gold rebounded on Friday, but was still on track to register its steepest weekly decline since the business week ended March 13th 2020, after the Federal Reserve’s hawkish policy reversal bolstered the US Dollar to a nine-week high. The FOMC indicated on Wednesday that it would consider whether to scale back the bank’s asset-purchasing […]
Read moreJune 17, 2021 8:40 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday, as the US Dollar added to its value, but still, oil losses were limited by a sharp drop in US crude stocks, signalling continued demand recovery. The US Dollar registered its sharpest single-day gain in 15 months on Wednesday after the Federal Reserve indicated […]
Read moreJune 10, 2021 10:43 am
Futures on US West Texas Intermediate Crude Oil remained mostly steady on Thursday after a government report showed an increase in US gasoline stockpiles, implying weaker-than-anticipated fuel demand at the start of the summer driving season. US crude oil stocks, including the nation’s Strategic Petroleum Reserve (SPR), registered a drop for the eleventh consecutive week […]
Read moreJune 4, 2021 9:18 am
Following a sharp sell-off on Thursday, Spot Gold was hovering just above a fresh two-week trough on Friday, as the US Dollar strengthened to a three-week high, while the 10-year US Treasury yield surged to 1.63%, increasing the opportunity cost of holding the non-yielding metal. “A much stronger dollar, a rise in U.S. Treasury yields […]
Read moreJune 3, 2021 9:04 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior two trading days on Thursday, driven by expectations of a recovery in fuel demand later in 2021, most notably in the United States, Europe and China. Market forecasters, including the Organization of the Petroleum Exporting Countries and allies (OPEC+), largely project that […]
Read moreMay 28, 2021 8:40 am
Spot Gold retreated on Friday, as the US Dollar extended a rebound from 20-week lows and the yield on US 10-year government bonds rose above 1.6%, which increased the opportunity cost of holding the non-yielding precious metal. Meanwhile, market players are now expecting the key US personal consumption data due out later on Friday for […]
Read moreMay 27, 2021 9:11 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday due to concerns over a possible increase in Iran’s oil supply. Still, demand optimism regarding the summer driving season in the United States and Europe was providing certain support. “Most of the euro zone countries’ travel restrictions are lifted considering lower COVID-19 cases boosting […]
Read more