On Wednesday, gold prices clawed back from a three-month low as the greenback and US treasuries declined, ahead of key American inflation data. Bullion futures for June 22 bounced up 0.49% or 9.10 points to $1,850.20 per ounce. This movement came after a drop of 0.20% to $1,836.50 per ounce in the early trading session. …
On Tuesday, aluminum prices declined as tightening COVID-19 restrictions in top metals consumer China stoked worries about demand. On the London Metal Exchange, futures tied to the commodity skidded 1.78% or 49.00 points to $2,709.00 per tonne. It trailed Monday’s slump of 3.13% to $2,758.00 per tonne, representing the lowest level since January 5. China …
On Monday, natural gas prices declined as experts forecasted a slow rise in output, milder weather, and a drop in demand in the coming weeks. Futures tied to the commodity slashed 2.16% or 0.17 to $7.97 per MMBtu. It trailed a plunge of 10.21% to $7.96 per MMBtu last Friday. Accordingly, American data provider Refinitiv …
Natural gas ticks lower on slow output forecasts Read More »
On Friday, wheat prices stepped lower, but the commodity remained on course for a weekly gain. The continued tightened global supplies have significantly supported the market. The grain’s most active contract on the Chicago Board of Trade skidded 0.82% or 9.12 points to $1,096.88 per metric ton. This downturn came after an upswing of 2.15% …
On Thursday, natural gas prices gained pace after touching the highest level in nearly 14 years. This movement came as Russia’s invasion of Ukraine wreaked havoc on global energy markets. Accordingly, Henry Hub prices rocketed to more than 9.00% at one point to a session high of $8.17 per million British thermal units. The contract …
Natural gas prices record highest level since 2008 Read More »
On Wednesday, oil prices ticked higher as the European Union, the world’s largest trading bloc, stated plans to phase out imports of Russian crude. Brent oil futures increased 3.57% or 3.77 points to $108.75 per barrel. The international benchmark completely reversed a downturn of 1.58% to $105.88 per barrel yesterday. US West Texas Intermediate added …
On Tuesday, copper prices traded to a three-month low as the COVID-19 restrictions in top consumer China fueled worries about weaker growth, hitting metals demand. Its benchmark futures on the London Metal Exchange declined 2.58% or 252.00 points to $9,517.50 per ton. This downward movement marks the lowest level since January 31. The recent weak …
Copper dwindles to a 3-month low on demand jitters Read More »
On Monday, crude prices skidded on broader concerns about the weak economic growth in China, the largest oil importer. Brent crude futures declined 2.87% or 3.01 points to $104.15 per barrel. It completely reversed an upturn of 1.63% to $109.34 last Friday. West Texas Intermediate contracts also slashed 3.13% or 3.25 points to $101.42 per …
On Friday, oil prices headed to a fifth monthly advance on the likelihood that Germany will join other European Union countries in banning Russian crude. Brent crude futures jumped 1.35% or 1.52 points to $108.77 per barrel. The international benchmark extended Thursday’s upturn of 2.16% to $107.22 per barrel. Then, US West Texas Intermediate oil …
Oil rallies on chances of EU ban on Russian crude Read More »
On Thursday, coffee prices were under pressure as signs of easing supply concerns appeared in the market. Subsequently, US coffee c futures for May 22 delivery slashed 2.53% or 0.05 points to $2.16 per pound. The world benchmark for the arabica bean completely reversed a slight gain of 0.16% to $2.21 per pound yesterday. The …
On Wednesday, Russia’s Gazprom halted gas supplies to Poland and Bulgaria for failing to pay for gas in rubles. This move reflects Moscow’s toughest response to the crippling sanctions imposed by the West for the invasion of Ukraine. The world’s biggest natural gas company supplies around 40.00% of European energy products. It warned that it …
Gazprom ceases gas supply to Poland and Bulgaria Read More »
Indonesia stated its plans to widen its ban on exports of refined palm olein if it faces domestic shortages of the derivatives. The world’s biggest palm oil exporter prepares to halt refined, bleached, and deodorized (RBD) palm olein shipments. Nevertheless, the country would allow crude palm oil exports or other derivatives from Thursday. Accordingly, RBD …
On Monday, gold prices slipped to their lowest in four weeks. The downturn came amid the prospects of aggressive policy tightening by the US Federal Reserve, denting the precious metal’s appeal. As of writing, bullion futures declined 1.92% or 36.70 points to $1,897.10 per troy ounce. The contract followed a drop of 0.71% to $1,934.30 …
Gold prices hover to 4-week low on rate hike worries Read More »
The slow start of corn planting in the key growing areas of the United States threatens the grain’s production levels. The US Agriculture Department reported that farmers had already seeded 4.00% of the crop as of April 17. However, this pace declined 3.00% from a year earlier and was below the five-year average of 6.00%. …
On Thursday, oil prices rebounded as concerns about lower economic growth and demand stagnation weighed against tightening supplies. Brent crude futures increased 1.76% or 1.85 points to $108.68 per barrel. The international benchmark ticked up from a 0.42% loss to $106.80 per barrel yesterday. Similarly, West Texas Intermediate oil contracts rose 1.77% or 1.82 points …
Oil prices gain pace as supply concerns dominate Read More »
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