Oil Finds Support as IEA Warns of Low Inventories
USOil finds reprieve after yesterday’s plunge, as the International Energy Agency (IEA) talks of critically low inventories, in today’s latest monthly report
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USOil finds reprieve after yesterday’s plunge, as the International Energy Agency (IEA) talks of critically low inventories, in today’s latest monthly report
XAU/USD tries to take a breath today, after yesterday’s slump due to recession fears that sent investors to the arms of the US Dollar
Oil capitulates as market ponders demand destruction.
The commodity registered its first negative month of the year, amidst stagflation fears, while OPEC+ maintained its output hike plan
Oil bid as OPEC and OPEC+ set to meet over the next two days.
Real yields exert pressure on the pressure metal. As the Fed hiking cycle continues, this pressure may keep up in the near-to-medium term if the correlation holds.
The commodity keeps its gains as the group of seven advanced economies is mulling a limit on the price of oil imports from Russia, while Libya warns of potential export halt
XAU/USD opened higher today, as the G7 economies are expected to sanction imports of Russian gold, based on the US President’s comments over the weekend
The gold price retested its bearish continuation pattern following its breakdown.
US President Biden is considering a suspension of the federal gas tax and action could be announced within the day, in a backdrop of soaring prices and monetary tightening by the Fed which creates stagflation fears
Copper is positively correlated with economic cycles. Therefore, its latest price action is a cause for concern.
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