Oil is at session lows at the moment, down $1.40 to $91.51 Goldman Sachs is warning it could rise to $125 and that risks remain to the upside. In a note today, “In our view, until the uncertainty around the rapidly escalating situation is resolved, commodity price risk remains skewed to the upside, with further
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LONDON – OPEC+ revised down its forecast for an oil market surplus this year by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday. The data – part of a report the Joint Technical Committee (JTC) prepares for OPEC+
I highlighted a under-appreciated trend last week: Public pressure to do more to punish Russia. It started with Biden’s press conference where he was hit with question after question about harsher sanctions and cutting of Russia from SWIFT. That same pressure has hit politicians everywhere. One-by-one, leaders have been peppered with similar questions and there
A deal among OPEC+ oil producers including Russia is showing no cracks so far after Russia’s invasion of Ukraine, OPEC+ sources said, and the group is likely to stick to a planned output rise at a meeting next week despite crude topping $100 a barrel. The Organization of the Petroleum Exporting Countries and allies, known
The markets had a roller coaster ride on Russia’s invasion of Ukraine last week. At the time of writing, Kyiv remains in Ukrainian hands after three days of brutal attack by Russia. Wave of European leaders have start delivering supplies Ukraine while packages of sanctions were imposed, up to Russian President Vladmir Putin. It’s also
12-month PCE inflation 3.1% vs 3.5% prior Six month annualized inflation 4.6% vs 3.9% prior One month annualized inflation 6.7% vs 4.6% prior These numbers all show an acceleration in core inflation and that’s the kind of thing that will kick the Fed into a higher pace of rate hikes. Owner-occupied home inflation rose 5.2%
Black Sea — a major artery for the movement of commodities at the crossroads of Europe and Asia — is suddenly drawing the world’s attention as the conflict in Ukraine unfolds. Half a dozen countries touch its shores, though it’s vital to many others beyond, for the trade of energy, steel and agricultural products. Crude
Overall, the markets seem to have stabilized from the shocking invasion of Ukraine by Russia, for now at least. US stock markets staged a late and strong turnaround overnight while Asian markets also recovered. Gold is back pressing 1900 handle while WTI oil is trading around 96, after breaching 100 briefly. In the currency markets,
The US stock indices tacked on another positive performance with the Dow taking the center stage with it’s biggest day in 2022. The Dow rose 834 points on the day or 2.51%. The Nasdaq was the weakest performer but it still added 1.64% after yesterday’s 3.35% gain. The S&P rose 95.95 or 2.24%. European shares
Even though gold prices have shot up due to geopolitical tension between Russia and Ukraine, experts have warned investors not to allocate more than 10-15% of their portfolio towards the precious metal. Gold had crossed Rs 51,500 per 10 grams on Thursday after Russia declared war against Ukraine. In any such geopolitical crisis, gold becomes
Global stocks continue to rebound today. The West’s refrain from excluding Russia out of SWIFT was seen as a relief. But still risks remain, in particular if war spreads to NATO countries. Economic data continue to take a back seat, and even another surge in US inflation doesn’t move markets. As for currencies, Aussie is
Prior was +4.9% y/y Core m/m +0.5% vs +0.5% expected Prior core m/m +0.4% PCE price index +0.6% m/m vs +0.4% prior PCE price index +6.1% y/y vs +5.8% prior Consumers spending and income for January: Personal income 0.0% vs -0.3% expected. Personal spending +2.1% vs +1.5% expected. Real personal spending +1.5% vs -1.0% prior
New Delhi: Paring previous gains, gold prices in the national capital on Friday declined by Rs 1,274 to Rs 50,913 per 10 gram reflecting overnight fall in international market along with rupee appreciation, according to HDFC Securities. The yellow metal had closed at Rs 52,187 per 10 gram in the previous trade. Silver also plummeted
Global markets sink as Russia finally launches invasion of Ukraine. Risk averse sentiment dominates, pushing gold and oil higher, while stocks and cryptocurrencies tumble. In the currency markets, Yen and Swiss Franc surge sharply on safe-haven flows, together with Dollar. On the other hand, Euro is under heavy selling pressure together with commodity currencies. Technically,
New Delhi: Gold prices in the national capital rallied by Rs 1,656 to Rs 51,627 per 10 grams on Thursday on the back of safe-haven buying and sharp depreciation of rupee amid the Russia-Ukraine conflict, according to HDFC Securities. The yellow metal had closed at Rs 49,971 per 10 grams in the previous trade. Silver
Russia invasion of Ukraine remains the dominant theme in the markets today. Safe haven flow pushes gold to highest level in more than a year, marching towards 2k handle. WTI crude oil also surges pass 100 level, rising as it does in geopolitical tensions. In the currency markets, Yen and Dollar are overwhelmingly the strongest
> PM Johnson Says We Will Do More In Days Ahead On Providing Ukraine With Defensive Weaponry ukraine PM Johnson Says We Will Do What More We Can In The Days Ahead On Providing Ukraine With Defensive Weaponry Ryan Paisey Thursday, 24/02/2022 | 12:01 GMT-0 24/02/2022 | 12:01 GMT-0 PM Johnson on the wires: JOHNSON
NEW DELHI: Gold prices spiked on Thursday, moving towards multi-month highs, as investors rushed towards safe-haven amid global geopolitical worries. Ukraine declared an emergency and the West imposed more sanctions on Russia for sending troops into eastern Ukraine, while Moscow bombarded Kyiv. Gold futures on MCX were trading higher by 1.53 per cent or Rs