Oil prices experienced a more than 4% jump on Friday, a notable rebound from a four-month low seen just the day before. Brent crude futures, the global oil benchmark, closed up by $3.19, or roughly 4.1%, at $80.61 a barrel. Similarly, West Texas Intermediate crude (WTI), a key standard for U.S. oil, rose by $2.99, or 4.1%, to $75.89. This uptick is not just a number on a chart; it’s a reflection of the complex interplay of global events and market sentiments. A crucial factor behind this price jump is the easing of fears regarding Middle East supply disruptions. The region, a pivotal player in ..read more

U.S. stock indices are currently dancing on a tightrope, balancing between optimism and fear. While there are signs of growth and recovery, external factors, such as geopolitical tensions and domestic economic concerns, are acting as counterweights. Starting off with Friday’s numbers, U.S. stocks predominantly leaned towards the negative side. The S&P 500, often considered a broad representation of the U.S. stock market, experienced a decline of 0.5%. In contrast, the Dow Jones Industrial Average, known for its blue-chip status, managed to eke out a slight edge upwards by 0.1%. The tech-he ..read more

As we all know, gold often functions as an economic barometer, reacting to various indicators like inflation, interest rates, and geopolitical stability. As of late, traders are tuned into the latest Consumer Price Index (CPI) data for August, which is adding another layer of complexity to the already erratic movement of gold prices. Investors are closely watching this release, as it will be the last set of inflation figures coming out before the Federal Reserve’s September monetary policy meeting. The Gold-Dollar Dynamics Amidst Global Slowdown Concerns Interestingly, despite the U.S. dollar ..read more

The trajectory of Brent crude oil prices in recent weeks presents a compelling narrative of change and potential. The period since early July 2023 has witnessed an impressive gain of over $10 in Brent crude oil, effectively breaking free from a stagnant several-month range that had held it below $76. The remarkable ascent culminated in the week’s closure above $86, reflecting a bullish sentiment that may usher in a new chapter for oil markets. Notably, the International Energy Agency (IEA) has cast a spotlight on the demand dynamics within the oil industry. Global oil demand reached an unprece ..read more

The price of oil was experiencing an upward trend this Tuesday, bouncing back from a weak beginning to the week. The revival was driven by robust macroeconomic indicators reported in the USA, combined with a hope on debt-ceiling discussions. Moreover, a cautionary message from the Saudi energy minister to investors has also added fuel to this surge, as it hinted at potential additional reductions in OPEC production. Many sources referencing American Petroleum Institute statistics suggest that crude stocks dipped by nearly 6.8 million barrels for the week concluding on May 19. Similarly, there ..read more

On Tuesday, crude oil prices increased slightly, continuing their significant gains from the prior day due to the risk of supply disruptions from Iraqi Kurdistan and optimism that the uncertainty in the banking sector has reduced. The arguments escalated last week, causing the Iraqi government to halt oil exports from Kurdistan to Turkey. This action followed a court decision from the International Chamber of Commerce that was in favor of Baghdad in a case against Turkey, which argued that the country should not have allowed the supply of oil from Kurdistan to Ceyhan without the explicit conse ..read more

It was an extremely difficult week for equities in London after far higher than forecast US inflation numbers were released ahead of US open, raising an instant worry over further central bank policies and consumer confidence. US inflation hit a new four-decade high May, which triggered an almost instant sell off on US index futures. These numbers are a worrying trend, and puts further pressure on families as prices to purchase essentials like food, fuel increase dramatically. Investors are very concerned about inflation. This was true even before today’s US CPI number, which hasn’t been helpe ..read more

Friday brought another rise in Oil prices with a gain of around 4%, as record high prices were seen in US Gasoline. Investors are still rightly concerned that supplies will tighten if the EU does indeed go ahead and ban Russian imports. This was the third consecutive weekly increase in Oil prices, and also the highest close since late March. Brent dropped and it’s been a while, around 2 or 3 weeks since the highs. The volatility in oil prices is due to concerns that an EU ban on Russian oil might reduce supplies, but also there are still fears of a new wave of COVID-19 in China and other areas ..read more

Major concerns were raised on Monday on continued demand from China which sent the copper price and main industrial metals sliding yesterday. Covid continues to be a pest in China, with lockdowns in major cities and ports suffering backlogs of unloading ships. After China promised more support to revive an economy which has been ravaged by the virus, some of Monday’s losses were recouped by copper prices. Copper rose to 2.3% in China on Tuesday as the central bank of the country pledged to boost monetary support for the economy, particularly for small businesses that were hard hit by the pande ..read more

Early last week Natural Gas prices headed to highs not seen since 2008 and for a moment hit over $8 per MCF. However, this was to be the high moment with steep declines for the remainder of the week. So what next? What is driving gas prices right now? The EU and Russia are at odds over Putin’s demand that Russia’s “unfriendly” countries, such as the UK and all EU members, pay in rubles for Russian gas. This is due to the fact that there has been an increase in European demand for gas because of the lower wind speeds. Europe is now preparing for a possible halt in Russian gas supply with April ..read more