Commodities News

Commodity Market: WTI Crude Oil extends losses on US oil inventory increase, China COVID-19 concerns hamper demand

Futures on US West Texas Intermediate Crude Oil edged lower on Wednesday following an over 3% slump in the previous trading session, as an industry report showed US crude inventories had surged more than expected. At the same time, re-surging COVID infections in China added to fuel demand concerns. The latest data from the American […] Read more

Commodity Market: WTI Crude Oil falls over 1% after China doubles down on COVID-19 curbs

Futures on US West Texas Intermediate Crude Oil retreated more than 1% on Friday after China, a key crude oil importer, doubled down on COVID-19 curbs. Yet, the futures were set to register a weekly advance due to supply concerns ahead of EU’s cut-off of Russian oil imports. Yesterday a number of Chinese cities tightened […] Read more

Commodity Market: Gold heads for second week of losses as US Treasury yields hit over 14-year highs

Spot Gold retreated to a fresh three-week low on Friday and looked set for a second straight week of losses, pressured by rising US bond yields and firm US Dollar in light of hawkish remarks from Federal Reserve officials. 10-year US Treasury yields rose to highs not seen since June 2008 and the US Dollar […] Read more

Commodity Market: WTI Crude Oil heads for weekly loss on global recession fears, weak China oil demand

Futures on US West Texas Intermediate Crude Oil were on track to register their first loss in three weeks, as global recession concerns and weak Chinese oil demand offset the positive effects from a softer US Dollar and a huge cut to the OPEC+ oil production target. Yesterday the International Energy Agency (IEA) revised down […] Read more

Commodity Market: Gold heads for best week since March ahead of US Non-Farm Payrolls data

Spot Gold traded little changed on Friday ahead of the highly anticipated US employment data that could offer insight into labor market conditions. Still, the yellow metal was poised to register its best weekly performance since March, having risen 3.01% so far this week, as the US Dollar eased from 20-year highs and US Treasury […] Read more

Commodity Market: WTI Crude Oil heads for first gain in five weeks as US Dollar eases from 20-year highs, OPEC+ may cut output

Futures on US West Texas Intermediate Crude Oil were set to register their first gain in five weeks, as the US Dollar eased from 20-year highs and there is a possibility that OPEC+ members may agree to reduce oil production at their meeting on October 5th. “A deteriorating crude demand outlook won’t allow oil to […] Read more

Commodity Market: Gold heads for second week of losses as US Dollar hits a fresh 20-year peak on hawkish Fed outlook

Spot Gold was trading within a relatively tight range on Friday and was set to register a second straight week of losses, as US Treasury yields hit their highest levels in over a decade and the US Dollar was at a fresh 20-year peak, driven by expectations of more aggressive interest rate hikes by the […] Read more

Commodity Market: Gold hits an eight-week low, pressured by out-sized interest rate risk, strong US Dollar

Spot Gold extended recent string of losses and registered a fresh eight-week low on Thursday, as the US Dollar attempted to re-visit multi-decade highs driven by expectations of super-sized interest rate hikes by the Federal Reserve. “The Fed needs to shock the economic system hard and the chance of a 100-basis-point rate rise is a […] Read more

Commodity Market: WTI Crude Oil rebounds from 34-week low on concerns over supply tightness

After sliding to lows unseen since mid-January in the prior trading session, futures on US West Texas Intermediate Crude Oil rebounded over 0.3% on Thursday, as energy stalemate between the EU and Russia heightened investor concerns over fuel supply tightness. Yesterday the EU proposed a price cap on Russian gas after President Vladimir Putin threatened […] Read more

Commodity Market: Gold hits a six-week low as US Dollar remains strong, central bank rate hike bets weigh on the metal

Spot Gold registered a six-week low on Thursday, mostly due to stronger US Dollar and prospects of aggressive policy tightening by central banks across the globe in an attempt to curb soaring inflation. CPI inflation in the Euro Area reached a record high level of 9.1% in August, which added to the case of more […] Read more