Quick Look ICE Brent and NYMEX WTI futures opened lower in Asian trading amid inflation concerns and geopolitical events. US inflation figures dampen expectations for Federal Reserve rate cuts, with significant revisions to the rate cut outlook for 2024. There are divergent views on oil demand, with the IEA forecasting a slowdown and OPEC predicting …
Oil Prices Wobble: Inflation Fears & Geopolitical Sparks Read More »
Quick Look Hedge funds’ $8.7 billion investment in cocoa futures sparks record price levels. London and New York cocoa prices soar to £4757 and $5888 per ton, respectively. Adverse weather, diseases in West Africa, and speculative trading drive price surges. Despite global price hikes, Ghanaian and Ivorian farmers face delayed financial gains. Other commodities and …
Cocoa Prices Hit Record Highs: $8.7B Hedge Fund Bet Read More »
2023 Crude Oil & Metal Price Trends Benchmark U.S. and Brent crude oil prices see declines, reflecting market adjustments. March delivery for gasoline, heating oil, and natural gas also experience price drops. Gold and copper prices fall, while silver prices buck the trend with an increase. The dollar weakens against the yen and euro, influencing …
Quick Look Gold prices dip below $2000/oz amidst strong US CPI report and Fed rate cut speculations. ICE Brent crude oil sees a 0.94% hike, nearing $83/barrel, amid fluctuating crude inventories. OPEC adjusts oil demand and supply forecasts, signalling a cautious market outlook. Benchmark U.S. and Brent crude prices experience slight increases, reflecting market dynamics. …
Commodity Feed: Gold Dips, Oil Rises; US Agri Trade Falls 11% Read More »
Quick Look Oil prices remain stable despite tensions in the Middle East from Israel’s actions in Gaza. Trinidad and Tobago face a national emergency due to a major oil spill from a capsized vessel. Year-to-date, WTI and Brent crude prices show the market’s durability against geopolitical and environmental issues. Crude oil continues to be essential …
Oil Market Defies Tensions, Up Amid Global Crises Read More »
Quick Look Total OPEC+ crude output decreased by 340,000 barrels per day, the largest drop in six months. The decline was less than half the 700,000 b/d reduction promised for Q1 2024. Key contributors to the cut include Libya, Kuwait, and Iraq, with Libya’s Sharara field shutdown impacting numbers. The UAE bucked the trend with …
Jan ’24: OPEC+ Cuts Output by 340K B/D, Misses Target Read More »
Quick Look Crude oil prices stayed within a narrow range, with significant refinery margin improvements. US commercial crude oil inventories surged by 5.52 million barrels. Gasoline and distillate stocks dropped, indicating increased demand. Midwest refinery utilization rates climbed to 95.1%, reflecting robust processing activity. Gold reserves in China increased, while US agricultural stock estimates show …
Energy & Agriculture Update: Crude Up 5.52M Barrels Read More »
Key Points: Attacks on Shipping Routes: Despite current stability, the Red Sea faces threats that could necessitate quick adjustments to maintain crude oil flow. Cost Implications: Increased insurance and rerouting costs due to Red Sea tensions could elevate global freight rates. Impact on Russia: Approximately 80% of Russia’s oil exports to Asia are at risk, …
80% of Russia’s Crude Oil Exports at Risk: Red Sea Crisis Read More »
At Glance Gold price consolidation continues, hovering around $2025 after a two-day sell-off. Strong US economic indicators dampen prospects for aggressive Fed rate cuts. Global factors and technical analysis signal a bearish short-term outlook for gold. Gold prices are currently in a consolidation phase following a two-day sell-off, indicating the market is seeking direction amid …
Gold Price Fluctuates: Eyes on Fed’s Rate Decision Read More »
Quick Look The crude oil market sees a decline due to US inflation concerns. WTI crude oil approaches the $72 level, with support at $70 and $68. Value hunters and geopolitical factors add complexity to the market. Potential for a rebound as geopolitical tensions rise. Long-term traders may consider favourable entry points. Upside targets include …
Crude Oil Market Sees Decline Amid US Inflation Concerns Read More »
Oil Market Futures Retreat Amid Middle East Uncertainty Investors are closely monitoring a significant pullback from recent two-month highs in oil market futures, driven by escalating geopolitical tensions in the Middle East. The situation underscores the tight correlation between crude oil prices and global political events, particularly in this unstable region, heightening investor concerns. Warren …
Oil Market Dynamics: Geopolitical Tensions & Demand’s Impact Read More »
Key Points: Oil prices slid due to geopolitical tensions and looming demand concerns Gold demand reached record highs in 2023 due to central bank purchases and anticipation of interest rate cuts Industrial metal prices faced headwinds due to China’s manufacturing sector contraction and the strength of the US dollar Nickel market challenges led to the …
2023 Commodity Trends: Oil Drops by $1.97, Gold Surges 3% Read More »
In the latest market developments, the Dow Jones Industrial Average emerged as a standout performer, closing higher amid a mixed performance from its peers, the S&P 500 and Nasdaq Composite. This divergence in the indices’ performance was further complicated by a downward trend in Treasury yields. Driving these market movements were significant after-hours announcements from …
A Comprehensive Outlook for the Key Commodities Metal Market in the Coming Year As we enter 2024, it becomes crucial to assess the prospects of global commodities. The unexpected challenges of the past year, particularly resilient supply chains, had a different impact on the market than anticipated. However, with the data at hand, a nuanced …
2024 Metal Commodity Outlook: Insights & Projections Read More »
Despite headwinds from robust economic data, rising real yields, and a strengthening US Dollar, gold has displayed remarkable resilience, predominantly holding steadfast above the $2000 mark. The intricate dance between positive economic indicators and expectations for aggressive rate cuts has created a nuanced environment for traders, prompting careful evaluation of short-term dynamics. Analyzing Daily Trends: …
Gold’s Resilience: Navigating a Volatile Market Above $2000 Read More »
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