Last week’s sell-off in world bonds steadied following central banks from Asia to Europe contributed reassurance that policy support persists in place. That’s served to moderately quiet markets and draw Treasury yields back from their highest level in a year. Bets on accelerating inflation raise concerns that there could be a pullback in monetary policy …
A furious rally in copper has sent it over $9,000 a tonne for the first time after 2011. Following a dramatic recovery, Brent crude on Tuesday briefly passed $66 a barrel, the level at which it began a turbulent 2020. Corn is up nearly 17 percent since the beginning of 2021 to an almost eight-year …
Worries Over Overshoot Raised By Commodities Prices Read More »
Brent crude oil futures for April increased 19 cents, 0.3%, to $67.23 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude for April was at $63.30 a barrel, higher 8 cents, 0.1%. Both contracts reached their highest after January 2020 earlier in the session, with Brent at $67.44 and WTI at $63.67. Confidence …
Archie Hunter, Base Metals Editor at Fastmarkets, stated purchasing in copper on-demand pick-up expectations. In an interview with CNBC-TV18, he said that we had China markets come back last week and noticed an enormous thirst for purchasing futures based on what we perceive as low stocks and expectations that demand will pick up. Demand for …
With vaccine distribution ramping up and more incentive likely on the move, investors have been speculating on a world economic recovery — and that has increased the price of copper. The metal is sometimes described as Doctor Copper, as its price is seen as a global economic extension sign. The issue now is whether the …
Asia’s third-largest economy shipped around 4.8 million barrels per day (BPD) oil in January, dropping 6% from the prior month and marginally higher than a year beforehand. India’s imports from Canada and the United States nearly duplicated from December to 142,000 BPD and 367,000 BPD, individually. The United States developed as the fourth-biggest supplier to …
U.S. And Canada In India`S Oil Imports Rises To Record High Read More »
Traders and executives are stating that more than 4 million barrels a day of production (about 40% of the nation’s crude production) went offline. One of the world’s largest oil refining centers has detected output drastically cut tail. The waterways that support U.S. oil flow to the rest of the world have been disturbed most …
At this point, the $1750 level below there could be the gateway to much cheaper pricing. Quite honestly, the ten-year yield proceeds to grow. This is lethal for gold markets as people will pursue yield over the metal. Moreover, it pushes up the cost of the US dollar, and that, of course, can create significant …
Wheat prices collapsed this month among profit-taking, but the decline is estimated short-term, based on fundamentals and the result from the winter weather. Could the wheat market reach the $7 point in the first quarter? The March futures surged $0.1325, or 2.08%, to $6.50 per bushel at 14:19 GMT on Tuesday on the Chicago Board …
Yet it appears that the course may yet change as at the time of writing, palladium has stretched back to the opening level and platinum turned its gains. Market analysts revealed that the risk-on market sentiment rests firmly in place. Hopes for coronavirus vaccine rollouts and global economic improvement have been encouraging traders towards riskier …
In the Middle East, the Iran-backed Houthis political group stated that it charged an international airport and airbase in Saudi Arabia with drones. While the Saudis have not verified the aggression, Riyadh has been consistently opposing the Houthis since 2015 in Yemen. What made the developments even more remarkable was that President Joe Biden led …
Middle East Tensions Affect The Commodity Market Read More »
The market had prophesied a much larger supply recession amid cooling temperatures and snow hitting many US parts. Nevertheless, the unexpected weekly report implied energy demand might not be as intense in the middle of one of the coldest Februarys on record. March natural gas futures fell $0.022. This corresponds to 0.76%, to $2.883 per …
Metals were more vital after yesterday’s unexpected inflation data in the United States. While the title Consumer Price Index increased by 0.3% in January, as was exacted, the underline CPI was low, whereas analysts had foretold a 0.2% gain. The flat inflation reading implies that the US economy needs an extra boost to improve the …
Metals Increase Throughout Thursday`S Quiet Trading Read More »
A lower dollar added to the crop’s substantial rally. Without a meaningful injection of new supply, how much larger can soybean prices go this year? March soybean futures rose $0.185, or 1.33%, to $14.0625 per bushel at 14:12 GMT on Tuesday on the Chicago Board of Trade (CBoT). Soybean prices flatted last week, but they …
Soybean Surpasses $14 Within Bullish Usda Report Read More »
The oil rally was principally a result of the positive market sentiment created by the outlook for fiscal stimulus in the United States and reports regarding covid-19 vaccines’ effectiveness. The optimism damaged the dollar, supporting commodities priced in the US currency. But it seems like the optimism has been declining as traders have been shifting …
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