Oil prices rose on Thursday for a third straight day, underpinned by a weaker dollar on optimism about global growth, even as governments from Australia to Europe step up curbs to slow the spread of the Omicron coronavirus variant. U.S. West Texas Intermediate (WTI) crude futures gained 35 cents, or 0.5%, to $73.11 a barrel […]
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Gold was up on Thursday morning in Asia, holding steady in holiday-thinned trade. A weaker offset investors’ renewed risk appetite, attributable to an encouraging study about the omicron COVID-19 variant that increased optimism around the global economic recovery. were up 0.24% to $1,806.45 by 10:28 PM ET (3:28 AM GMT), with the yellow metal set […]
Last week, the Energy Information Administration reported crude inventories have declined 4.72 million barrels. Rising home sales and consumer confidence have also sent positive signals to counter any worries about Omicron. “The report was modestly bullish, due to the large crude oil inventory drawdown,” said John Kilduff, a partner at Again Capital LLC. However, he pointed […]
Oil settled at the highest level in nearly a month after stockpiles decreased and economic data pushed equities higher. West Texas Intermediate futures rose 2.3%, closing above $72 for the first time in two weeks. Prices got a boost after the Energy Information Administration reported crude inventories declined 4.72 million barrels last week. Meanwhile, rising […]
As the U.S. and global markets rattle around over the past 60+ days, many traders have failed to identify an incredible opportunity setting up in both gold and silver. Historically, silver is extremely undervalued compared to gold right now. In fact, has continued to stay above $1,675 over the past 12+ months, while has collapsed from […]
Cold-stricken Europe is drawing a flotilla of U.S. liquefied cargoes amid an energy crisis that has sent gas prices to record levels. Facing a winter shortage and little relief from the continent’s main supplier Russia, natural gas in Northwest Europe is trading for about $57.54 per million British thermal units, up almost a third from […]
Oil rallied for a second day in a row Wednesday after data showing a sharp drop in weekly stockpiles of U.S. crude allowed bulls in the market to claw back all they lost in Monday’s sell-off triggered by fears over Covid’s Omicron variant. Also supporting oil were production outages in Libya that forced the North […]
The market is a discounting mechanism. It looks forward. It anticipates. It discounts. The market usually focuses 6 to 9 months ahead of the news. Economic data and news is one of the worst lagging indicators. Here’s our take on why and are weak amid . Disclaimer: Fusion Media would like to remind you that the data […]
With energy costs spiking to fresh records day after day, financial strain is mounting for industries including metals and fertilizers. Aluminium Dunkerque Industries France, Europe’s top smelter of the metal, curbed output in the past two weeks. Trafigura’s Nyrstar NV (BR:) will pause zinc production in France in early January and Romanian fertilizer maker Azomures temporarily halted […]