Commodities News

Gold set for largest weekly gain since April as dollar sits at 15-month low

Key points Spot Gold at 1-month high, heads for best week since April US Dollar hovers above 15-month low on Fed rate peak bets Gold profit-taking possible at current levels – expert Spot Gold looked set to register its best weekly performance since early April, as investors bolstered wagers that the Federal Reserve would likely […] Read more

WTI Crude Oil extends gains after US CPI as IEA sees tightening market

Key points WTI Crude extends gains from earlier in the week US inflation data suggests Fed nearing end of policy tightening Oil demand to reach record high this year – IEA Futures on US West Texas Intermediate Crude Oil extended gains on Thursday, after the latest US CPI inflation data suggested interest rates were nearing […] Read more

WTI Crude gains on OPEC+ supply cuts and H2 demand outlook

Key points WTI Crude with sizable gains OPEC+ supply cuts, weaker US Dollar support market H2 demand prospects also favor oil prices Futures on US West Texas Intermediate Crude Oil edged higher on Tuesday, supported by a weaker US Dollar, supply cuts by top oil exporters and prospects of stronger demand in developing nations during […] Read more

Gold stuck in tight range as investors focus on US CPI report

Key points Spot Gold trades in narrow range Traders await US CPI inflation report for more clues on rate hike trajectory Firmer USD weighs on dollar-priced Gold Spot Gold remained confined within a tight trading range on Monday after a sharp gain witnessed last Friday, as the US Dollar firmed, recouping part of Friday’s losses. […] Read more

WTI Crude edges up as market weighs tighter supply versus recession fears

Key points WTI Crude with small gains OPEC+ supply cuts, US crude oil stock drop support market Macroeconomic outlook uncertainty continues weighing on oil prices Futures on US West Texas Intermediate Crude Oil gained slightly on Thursday, as market players weighed tighter supply against concerns over global economic downturn. Saudi Arabia, OPEC+ largest producer, said […] Read more

WTI Crude gains as investors weigh supply cuts versus grim macro outlook

Key points WTI Crude rises, reversing a loss in the prior session Saudi Arabia to extend output cut to August Macroeconomic outlook uncertainty weighs on market Futures on US West Texas Intermediate Crude Oil surged on Tuesday, as market players weighed OPEC+ supply tightening measures against a global macroeconomic uncertainty. Saudi Arabia, OPEC+ largest producer, […] Read more

Spot Gold hovers above 15-week low as dollar and bond yields rise

Key points Spot Gold just above 15-week trough Traders await FOMC minutes for more clues on rate hike path Firmer USD, higher bond yields pressure dollar-priced Gold Spot Gold edged lower on Monday on firmer US Dollar and higher US bond yields, as this week’s focus sets on the minutes of the Federal Reserve June […] Read more

WTI Crude set for second straight quarter of losses on macro concerns

Key points WTI Crude heads for 2nd quarterly loss, Brent set for 4th quarterly drop Macroeconomic concerns weigh on market US oil inventory drop, OPEC+ deal support prices Futures on US West Texas Intermediate Crude Oil were set to register a 7.7% quarterly loss amid lingering concerns over global economic growth and fuel demand respectively. […] Read more

WTI Crude erases loss as market weighs US stock drop versus demand worries

Key points WTI Crude erases earlier losses, but gains seem limited US oil inventories decrease more than expected – EIA Rate hike concerns, weak China data weigh on oil prices Futures on US West Texas Intermediate Crude Oil erased earlier losses and edged higher on Thursday, as investors weighed a larger-than-anticipated drop in US oil […] Read more

WTI Crude Oil gains on steeper-than-expected US inventory drop

Key points WTI Crude recoups part of loss in the previous session US oil inventories decrease more than expected – API Data offsets rate hike concerns Futures on US West Texas Intermediate Crude Oil rose on Wednesday on the back of steeper-than-anticipated decrease in US crude stocks, which indicated fuel demand remained strong. The latest […] Read more