July 29, 2021 8:31 am
Futures on US West Texas Intermediate Crude Oil hit a fresh two-week high on Thursday, as US crude oil inventories dropped to levels not seen since January 2020. At the same time, Brent Oil once again regained ground above $75 per barrel. Brent prices moved past the $75 mark for the first time in over […]
Read moreJuly 23, 2021 8:04 am
Spot Gold traded little changed on Friday, but was heading for its first weekly loss out of five, as the US Dollar remained firm not far from recently achieved highs. “Gold being a go to alternative for paper currency and seeing the dollar bit higher is the catalyst that nudging gold back,” DailyFX currency strategist […]
Read moreJuly 22, 2021 8:29 am
After gaining more than 4% in the previous session, futures on US West Texas Intermediate Crude Oil edged lower on Thursday after US oil stocks unexpectedly rose, while surging new coronavirus cases pose a threat to demand. “Volatility in energy remains elevated as traders grapple with short-term demand weakness from Delta variant concerns and expectations […]
Read moreJuly 16, 2021 8:25 am
Spot Gold looked set for a fourth consecutive week of gains, supported by some dovish rhetoric from the Federal Reserve. In a hearing before the Senate Banking Committee yesterday, Fed Chair Jerome Powell faced sharp questions about inflation and once again reiterated that the central bank would continue to provide “powerful support” in order to […]
Read moreJuly 15, 2021 8:41 am
Futures on US West Texas Intermediate Crude Oil extended losses on Thursday, as the market braced for increased supply after a compromise between key OPEC producers. Additionally, fuel inventories in the United States, the largest oil consumer globally, increased, while raising demand concerns. Yesterday both WTI and Brent plunged more than 2% following a report […]
Read moreJuly 9, 2021 8:52 am
Spot Gold remained mostly steady during Friday’s European session and was set to register its third consecutive week of advance, as US Treasury yields fell while the spread of the more infectious Delta variant of the novel coronavirus caused certain concerns. US 10-year government bond yields were holding close to a more than four-month trough, […]
Read moreJuly 8, 2021 8:25 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior two trading days on Thursday, as this week’s talks between key oil producers collapsed. Negotiations between members of the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, fell apart when Saudi Arabia refused demands from the United […]
Read moreJuly 2, 2021 8:23 am
Spot Gold remained stuck within a narrow range on Friday, as the US Dollar advanced to a fresh three-month high ahead of the key US Non-Farm Payrolls data that could influence the Fed’s monetary policy stance. A stronger dollar makes Gold more expensive for international investors holding other currencies. In other news, the Democratic-controlled US […]
Read moreJuly 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 more