December 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 moreNovember 12, 2021 10:02 am
Spot Gold eased on Friday as the US Dollar advanced to highs not seen since July 2020. Still, the yellow metal looked set to register its second straight week of gains, since concerns over rising US CPI inflation added to Gold’s appeal as an inflation hedge. US consumer prices rose at an annual rate of […]
Read moreNovember 11, 2021 9:37 am
Futures on US West Texas Intermediate Crude Oil were mostly steady on Thursday. That followed a sharp drop in the previous session due to concerns rising inflation in the United States, driven by a surge in energy costs, may urge the government to release more strategic crude stocks to push prices down. US consumer prices […]
Read moreNovember 5, 2021 10:24 am
Spot Gold extended gains from a day ago on Friday and looked set to register a weekly gain after two major central banks took no action on interest rates despite rising inflationary pressures, which added to the appeal of the precious metal. An environment of low interest rates tends to keep the opportunity cost of […]
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