A contract for a five-year ceasefire in a U.S. and E.U. debate over aircraft support on Tuesday had achieved progress. However, the underlying trade relationship remains delicate, with many unresolved conflicts, diplomats and trade experts stated. The two economic powers allowed to set aside tariffs on $11.5 billion in U.S. and E.U. goods run during …
The oil market closed with little changes yesterday, with ICE Brent eking out a modest gain. Despite it looking increasingly doubtful, we will see the US re-join the Iranian nuclear deal before the Iranian Presidential Elections following this week. While Iran has stated a general agreement with the US on raising sanctions, some issues need …
Oil prices settled primarily unchanged on Monday, after scoring their highest levels in more than two years. Rising U.S. crude production and Britain’s slowed coronavirus reopening discouraged expectations for fuel demand growth and tighter supplies. The market responded negatively to a U.S. Energy Information Administration (EIA) estimate that shale oil production, which values more than …
Crude oil prices trimmed higher Thursday, supported by continued confidence by a group of top producers in growing oil demand in the second half of the year. By 9:35 AM ET (1335 GMT), U.S. crude was higher 0.8% at $70.53 a barrel, extending to the firm after finishing over $70 earlier this week for the …
Oil was falling Thursday morning in Asia, with demand from India continuing to fall. Brent oil futures dropped 0.69% to $71.72 by 12:16 AM ET (4:16 AM GMT) and WTI futures were below 0.69% to $69.48. India, the third-largest oil customer, posted its weakest fuel demand level in May after August 2020. Economic activity continued …
Oil falling in Asia while demand in India continues low Read More »
Oil was somewhat higher on Wednesday morning in Asia, boosted by expectations for rising fuel demand as the global economy reopens. Brent futures increased 0.26% to $72.41 by 10:17 PM ET (2:17 AM GMT) and crude futures were up 0.33% to $70.28. Tuesday’s U.S. crude oil supply data from the American Petroleum Institute revealed a …
Oil was falling Tuesday morning in Asia, extending Monday’s declines as the fragile state of the global economic recovery from coronavirus influences the fuel demand outlook. Brent oil futures dropped 0.77% to $70.94 by 11:38 PM ET (3:38 AM GMT), but remained over the $70-mark. WTI futures were falling 0.74% to $68.72. Trade data from …
World shares were rangebound, and trading just above the record highs on Monday. Markets considered Friday’s unexpected U.S. jobs report and a global tax deal within the G7 group of countries while also looking forward to inflation data due this week. Investors were cautious about how shares of major tech firms would respond to the …
Oil prices were little modified on Thursday after solid gains in the prior two sessions on expectations for rising fuel demand later this year while major producers manage supply discipline Brent crude futures were higher at 16 cents, or 0.22%, at $71.51 a barrel by 1244 GMT after reaching their highest after September 2019 at …
Gold prices surged on Wednesday, hovering under a near five-month peak hit the prior session, as U.S. Treasury yields pulled back. At the same time, investors anticipated critical economic data this week that will cast light on the inflation outlook. Spot gold was higher 0.4% at $1,906.80 per ounce at 1:43 p.m. EDT (1743 GMT), …
Prices for almost every natural commodity have increased over the past year, mainly because of the COVID-19 epidemic’s effect on the economy. Sugar expenses rose by 54%, soybeans by 83%, and corn higher than 100%. Commodity prices increase and decrease along with supply and demand. The past year moved up a perfect storm with the …
Most distinguished prices for some major commodities Read More »
Gold prices continued firm over the key $1,900-level on Monday following U.S. consumer prices increased more than anticipated in April and held the metal as an inflation hedge. Spot gold was even at $1,903.25 per ounce by 0036 GMT. U.S. gold futures trimmed 0.1% higher to $1,907 per ounce. U.S. consumer prices accelerated in April, …
Goldman Sachs stated it no longer viewed China as the center of commodities pricing, reflecting the pace of demand recovery in developed markets implied Beijing as Western consumers have crowded out buyers. The bullish commodity thesis is neither regarding Chinese speculators nor Chinese demand increase. It is about lack and the DM-led recovery, and the …
China is no longer center of commodities pricing Read More »
Iron ore price dropped on Wednesday following the Shanghai Futures Exchange promised to look into “abnormal transactions,” ranking on the government’s earlier efforts to temper commodity inflation through information. Iron ore price on the Dalian Commodity Exchange fell 6.1% to 994.50 ($155.59) yuan a tonne, just above the day’s low of 992 yuan ($155.20), its …
Iron ore prices drop as China examines transactions Read More »
Brent was higher 3 cents, or less than 0.1%, to $68.68 a barrel by 1027 GMT, and U.S. West Texas Intermediate (WTI) crude was under 11 cents, or 0.2%, at $65.96 a barrel. Physical demand has been growing in Europe and the United States as a strike in new coronavirus cases has driven up …
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