Crude oil price remains under pressure in European morning on stock markets’ decline and USD’s rebound. As recent price rallies have brought risky assets’ valuations to stretched levels, investors have become extremely…
Category: Oil & Gold Report
Weekly Fundamental Outlook for Energies and Metals – Consolidation in Crude Oil will Continue in Coming Months
Commodity prices rose modestly last week amid weakness in USD. Reuters/Jefferies CRB Index added +1.4% while USD Index plunged almost -2% to 76.6, the lowest close in a year. Commodities normally trade…
Weakness in Dollar Spurred Demand for Commodities
Although the US inventory report triggered selloff in crude oil price to as low as 70.86, decline in USD boosted demand for commodities again in afternoon session. The WTI October contract added…
Crude Remains Supported as IEA Raised Demand Forecasts
Crude oil price remains strong in European morning. The International Energy Agency (IEA) raised its forecast on oil demand, as indicated in the September report. The October contract hovers around 72 as…
OPEC Continues to ‘Wait & See’, Satisfied with Current Price Level
Crude oil price rose to as high as 72.52 Wednesday as driven by advance in stock markets amid the Fed Beige Book showed improved economic conditions. The benchmark contract ended the day…
Narrow Trading Across The Board. CFTC Commitments Of Traders Saw Significant Decline In Crude Net Longs
Commodity prices trade narrowly Monday due to Labor Day holiday in the US. Crude oil price edges slightly higher to 68.12 from Friday’s close of 68.02. This week’s focus is on OPEC’s…
Thin Trading Seen In Commodities While Stocks Surge As G-20 Collaborate To Strengthen The Economy
Crude oil price continues hovering around 68 level in European morning. We believe thin trading remains throughout the as US and Canada are on public holidays. Stock markets in Asia and Europe…
Base Metals Strengthen Further While Gold Retreats
Base metal complex extends further strength after the strong rally yesterday. LME lead for 3-month delivery, the best performer, jumps another +4.7% to 16-month high at 2387 after rising +7.8% Thursday. In…
Reasons For Gold’s Rally: Return Of Safe-Haven Appeal And Seasonality
Gold price rallied +2.3% to 978.5 Wednesday despite weakness in equity and oil prices. Investors’ concern over the US banking sector boosted demand for safe haven. As we noted yesterday, gold’s firmness…
Commodities Strengthen As China Stocks Rebound
Crude oil price rebounds above 69 as rally in China stock market boosted confidence on better oil demand. Reports show that crude oil production in Russia rose +1.3% yoy to 9925M bpd…