Crude oil continues to trade around 71/72 while gold hovers around 1070/1075 in European morning. Stock markets and the euro also stabilize after the slide last Friday. Oil demand in China looked…
Tag: petrol
Correlation Between Oil and Stock Markets Rises Again
Although oil prices stabilize after tumbling Thursday, the near-term outlook remains weak. The front-month contract of WTI crude oil price is hovering around 73 in European session as stock markets continue to…
Renewed Concerns on European Debt Defaults Weigh on Risky Assets
Investors dump risky assets amid renewed concerns about sovereign default risks in European countries. In Greece, although the government’s plan to reduce deficit received support from the European Commission, it is opposed…
Weekly Fundamental Outlook for Energies and Metals – Worries about Contagious Sovereign Risk Damped Sentiment
Macroeconomic events were the focus of last week and strength in USD put commodity prices under pressure for the second week. The USD index gained +1.5% last week as concerns about sovereign…
Weekly Fundamental Outlook for Energies and Metals – US/China Policy Uncertainty Weighed on Commodities
The commodity sector got hammered last week as investors worried that overheating in China and US’ bank proposal to curb risk-taking would reduce demand for higher-yield assets. The Reuters/Jefferies CRB Index dropped…
China Guided Yields Higher Again, Commodities Did Not React
Crude oil trades within a narrow range of 78 and 78.7 in Asian session. Sideways trading is expected to continue until European or even NY sessions when more economic data will be…
Strong China Commodity Demand Can Boost Gold Price as It Increases Inflation Pressure
Gold price stays firm in European morning as the dollar continues to weaken against major currencies. We receive strong trade data from China yesterday but most investors only related strong imports to…
Crude Reverses Gains as China Raises Yield and Weather May Get Warmer
Crude oil reversed gains after failing to test 84 in NY session Monday. The February contract ended the day at 82.52, down -0.3%. Currently trading at 81.9, the decline accelerates as the…
Strong China Imports Pushed Crude Price Higher
Crude oil price rose to as high as 83.67 after China reported strong imports in December. In 2009, robust demand in emerging countries, especially China, was the major driver for energy prices….