Commodities News

Commodity Market: WTI Crude Oil edges higher in volatile trade as investors weigh US fuel stock build, supply disruptions

Futures on US West Texas Intermediate Crude Oil traded a notch higher in a volatile session on Thursday, as market players weighed US fuel inventory build and global supply disruptions. The official report by the US Energy Information Administration (EIA) showed on Wednesday crude oil inventories had decreased by 2.762 million barrels during the week […] Read more

Commodity Market: WTI Crude Oil extends losses as investors reassess recession risks

Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading day on Thursday, as market players reassessed recession risk and fuel demand amid rising interest rates in developed economies. “Oil markets remained under pressure as investors were concerned that U.S. rate hikes would stall an economic recovery and dampen fuel demand,” […] Read more

Commodity Market: WTI Crude Oil rebounds after steep drop on supply tightness, peak summer consumption

Futures on US West Texas Intermediate Crude Oil rebounded on Thursday after a sharp decline in the prior trading day, while drawing support from tight supply and peak summer fuel demand. Yesterday WTI Crude retreated over 3% after the Federal Reserve hiked interest rates by 0.75% to rein in surging inflation, or the biggest single-meeting […] Read more

Commodity Market: WTI Crude Oil off a three-month high as new Shanghai lockdown measures outweigh upbeat China macro data

Futures on US West Texas Intermediate Crude Oil eased from a three-month peak on Thursday, as new COVID-19 lockdown measures imposed in parts of Shanghai overshadowed better-than-anticipated export data from China. Chinese exports surged 16.9% year-on-year in May, or at the fastest rate since January and well above market consensus, as relaxation of coronavirus-related restrictions […] Read more

Commodity Market: WTI Crude Oil falls over 2% as investors take profits, OPEC+ meeting in focus

Futures on US West Texas Intermediate Crude Oil retreated more than 2% on Thursday, as investors took profits following a recent rally, while speculation emerged that Saudi Arabia might step up oil production in response to calls from the United States. “Investors unwound long positions to wait and see whether Saudi Arabia would raise production […] Read more

Commodity Market: WTI Crude Oil rises a third day ahead of US driving season as tight supply, softer dollar support

Futures on US West Texas Intermediate Crude Oil rose for a third straight trading day on Monday, supported by US fuel demand, tight supply and a softer US Dollar, while Shanghai is due to reopen on June 1st after a two-month lockdown that had raised concerns over a sharp growth slowdown. “Oil prices are supported […] Read more

Commodity Market: WTI Crude Oil retreats over 2% as recession fears outweigh supply hurdles, geopolitical tensions

Futures on US West Texas Intermediate Crude Oil retreated more than 2% on Thursday in what has so far been a volatile week, as recession concerns pressured global markets, overshadowing supply hurdles and geopolitical tensions. Oil, along with other market segments, has been under pressure this week due to a complex of factors, including monetary […] Read more

Commodity Market: WTI Crude Oil extends advance on new EU sanctions proposal against Russia, weak China macro data a concern

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 more

Commodity Market: Gold rebounds from a 10-week low, but remains on track for first monthly drop since January

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 more

Commodity Market: WTI Crude Oil rebounds over 1% on supply concerns related to Russia and Libya

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 more