June 27, 2023 12:34 pm
Key points WTI Crude retreats more than 1% US oil inventory data in focus – API, EIA Market shrugs off recent geopolitical events Futures on US West Texas Intermediate Crude Oil retreated on Tuesday, as market players looked to incoming US inventory data for clues over fuel demand during the busy summer driving season. The […]
Read moreJune 26, 2023 12:47 pm
Key points Spot Gold rebounds from 14-week trough Geopolitical worries surrounding Russia underpin safe haven demand A drop in USD also supports dollar-priced Gold Speculators increase net long position in COMEX Gold Spot Gold gained for a second straight day on Monday, as geopolitical developments that unfolded in Russia this weekend prompted some market players […]
Read moreJune 23, 2023 12:32 pm
Key points WTI Crude heads for a weekly decline Aggressive monetary policy tightening brings forth growth concerns, underpinning risk-off assets Demand concerns outweigh latest EIA inventory data Futures on US West Texas Intermediate Crude Oil plunged for a second consecutive trading day on Friday and were set for a weekly loss, as rate hike-driven economic […]
Read moreJune 22, 2023 12:29 pm
Key points Spot Gold hovers above recent 3-month low Fed Chair Powell indicates more hikes to come to curb inflation BoE hikes rates by 50 bps to 5%, the highest since 2008 crisis Spot Gold traded near recent three-month trough on Thursday after Federal Reserve Chair Jerome Powell indicated more tightening was likely to rein […]
Read moreJune 21, 2023 12:26 pm
Key points WTI Crude trades within relatively narrow range Focus sets on Fed Chair Powell’s testimony API and EIA inventory data expected Futures on US West Texas Intermediate Crude Oil held steady on Wednesday as market focus sets on Fed Chair Jerome Powell’s congressional testimony later today and after official data showed UK inflation remained […]
Read moreJune 20, 2023 12:42 pm
Key points Gold, US Dollar move within tight ranges on Tuesday Market players wait for Fed Chair Powell’s testimony for rate path clues China gold demand to remain strong amid economic uncertainties – analyst Spot Gold and the US Dollar were mostly little changed on Tuesday, as market players were eyeing Federal Reserve Chair Jerome […]
Read moreJune 19, 2023 12:45 pm
Key points WTI Crude with small gains, erasing losses earlier in the session China data suggests recovery remains shaky US oil and gas rig count drops for 7th straight week OPEC+ output cut deal supports market Futures on US West Texas Intermediate Crude Oil were last edging up on Monday, erasing earlier losses, as investors […]
Read moreJune 12, 2023 8:59 am
Spot Gold traded mostly little changed at the start of the week amid investor caution ahead of the key US inflation data and the outcome of the Federal Reserve’s policy meeting. Markets are currently pricing in a 74% chance that the US central bank will keep the target range for the federal funds rate unchanged […]
Read moreJune 10, 2023 8:30 am
Key moments *Chevron, a U.S.-based oil company, plans to invest over $500 million in the Trapial block within the Vaca Muerta shale basin in Argentina’s western Neuquen province. *The investment announcement followed a meeting between Economy Minister Sergio Massa and Chevron officials. *The Trapial block covers an area of 109 square miles (283 square kilometers). […]
Read moreMay 31, 2023 9:06 am
Futures on US West Texas Intermediate Crude Oil retreated for a third consecutive trading day on Wednesday, as concerns over slowing demand in the world’s largest oil importer China overshadowed some progress in US debt ceiling talks. The latest macro data coming out of China showed manufacturing sector activity had shrunk at a steeper pace […]
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