The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose +4.27 mmb to 1222.16 mmb in the week ended November 26. Crude oil inventory dropped -0.91 mmb to 433 mmb, compared with consensus of a -1.24 mmb decrease. Inventory increased in 3 out of
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The 1st Omicron case in the US The CDC/Dr. Fauci has added that The omicron patient was fully vaccinated and has mild symptoms. The individual is a travelers from So Africa on November 22. The individual is self quarantining and those in contact have not contacted the virus The individual had mild symptoms The indivdual was fully vaccinated.
New Delhi: Gold in the national capital on Wednesday tumbled Rs 302 to Rs 46,848 per 10 gram reflecting an overnight decline in international precious metal prices along with rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,150 per 10 gram. Silver also dipped Rs 81
Dollar attempted for a rally overnight after hawkish comments from Fed Chair Jerome Powell, but momentum quickly faded. Instead, the greenback was dragged down by extended weakness in benchmark treasury yields. Overall market sentiment is stable in Asian session, helping commodity currencies rebound. Aussie is additionally lifted by better than expected GDP data. But then,
The health office of the German state of Baden-Wuerttemberg reports Three of the infected persons are said to have returned from a business trip to South Africa on 26-27 November respectively, with the fourth person a family member of one of the returnees. The statement reads: “All four people are fully vaccinated. A mutation analysis
MELBOURNE: Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant. U.S. West Texas Intermediate (WTI) crude futures rose 78 cents, or 1.2 per cent, to $66.96 a
Despite concerns over the new coronavirus variant Omicron, Fed Chair Jay Powell’s testimony before the Senate was hawkish. He suggested that the Fed could accelerate the tapering of asset purchases in order to curb strong inflation. US dollar extended rally against major currencies, with the exception of Japanese yen and Swiss franc. The testimony is
Numbers to watch out of South Africa The epicentre of covid cases in South Africa is where I’m watching for some real-world data on covid cases. I highlighted the earlier numbers, which were promising. Today’s data was just published and aren’t as good. They show 3143 new cases compared to a 1909 a day earlier.
New Delhi: Gold in the national capital on Tuesday jumped Rs 41 to Rs 47,217 per 10 gram in line with rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,176 per 10 gram. Silver in contrast dipped Rs 667 to Rs 61,337
Overall market sentiment is stable, with major Asian indexes mixed, following the recovery in US stocks overnight. Yen and Dollar soften slightly after turning into consolidations, but Swiss Franc is still strong. Commodity currencies are mixed with no follow through buying with the current rebound attempt. In other markets, Gold is struggling in tight range
What we know The Omicron variant has 30 changes to it including a small insertion in the spike protein and three small deletions. Around 50% of these changes are in the receptor binding domain – this is the part of the spike protein use to bind to human ACE-2, which is the enzyme the coronavirus
MELBOURNE: Oil prices climbed on Tuesday, extending a rebound from last week’s plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant. U.S. West Texas Intermediate (WTI) crude futures jumped 99 cents, or 1.4 per cent, to $70.94 a barrel
The forex markets are staying in consolidative mode today as overall market sentiment stabilized. Major European indexes are paring some of last week’s losses while US futures also point to higher open. But it remains to be seen if it’s just a dead cat bounce, or a reversal. Canadian and Australian Dollar are currently the
Which currency will be hit most in another wave? Credit Agricole CIB Research flags 2 headwind factors for the USD in the near-term. “The impact of the new virus variant omicron on individual G10 currencies will depend on two key factors in our view. The first is the advancement of their respective vaccination campaigns and
New Delhi: Gold in the national capital on Thursday rose by Rs 65 to Rs 46,012 per 10 gram in line with a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,947 per 10 gram. Silver also gained Rs 490 to Rs
Worries about Omicron remains a main theme in the markets. Nikkei takes a dive after Japan announced to close its borders to all foreigners as Prime Minister Fumio Kishida said he’s taking measures with a “strong sense of crisis”. The forex markets are relatively quiet for now, with Yen and Swiss Franc digesting some of
Dead cat bounce? Meow. It’s early in the day and the market is still digesting the drastic moves from Friday, where risk trades were beaten, battered and clobbered across the board. European futures are pointing to gains around 0.7% to 0.9% while S&P 500 futures are up 0.7% (Nasdaq futures up 1.0%, Dow futures up
Gold prices edged higher on Monday, as concerns over the impact of the possibly vaccine-resistant Omicron coronavirus variant supported the precious metal’s safe-haven appeal. Spot gold rose 0.1 per cent to $1,793.72 per ounce by 0201 GMT. U.S. gold futures advanced 0.4 per cent to $1,793.2. The Omicron coronavirus variant spread around the world on