Category: Gold and Commodities

Will Biden Benefit From His Trip to Saudi Arabia?

July 14, 2022
Business & MarketseconomyExecutive BranchGold and CommoditiesJoe BidenMarketsMiddle EastOilPoliticsSaudi ArabiaUSUS NewsWorld
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News Analysis Crude futures slumped as much as 5 percent on Thursday in hopes that President Joe Biden could encourage Saudi Arabia to produce more oil. Biden will be meeting with Saudi leaders, including Mohammed bin Salman Al Saud. He purported in a recent op-ed in The Washington Post that his much-anticipated visit will cover…

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Oil Prices Tumble More Than $2 Ahead of Potential Large US Rate Hike

July 14, 2022
Business & MarketseconomyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell more than $2 on Thursday as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand. Brent crude futures for September were down $2.14 to $97.43 a barrel at 1038 GMT after settling below $100 for…

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Stocks Fall, Dollar Gains as US Inflation Prompts 100 bps Hike Bets

July 14, 2022
Business & Marketseconomic policieseconomyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—European shares dropped in early trading on Thursday and the safe-haven dollar was up after the latest red-hot U.S. inflation reading increased investor caution about Federal Reserve rate hikes. Wednesday’s data showed U.S. consumer prices jumped 9.1 percent year-on-year in June, up from May’s 8.6 percent rise. The data was seen as firming the case…

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Target to Add Bobbie Brand Infant Formula to Stores as Shortage Persists

July 14, 2022
Business & MarketsGold and Commoditiesinfant formulaMarketsshortageU.S. Food and Drug AdministrationUSUS News
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NEW YORK—Target Corp. has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months…

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In Senate, a Clash on What’s Causing Energy Prices to Spike

July 13, 2022
2022 Midterm ElectionsBusiness & Marketsclimate changeCompaniescongressDemocratseconomic policieseconomyenergy pricesExecutive BranchgasolineGold and CommoditiesinflationInvestmentMarketsOilPoliticsrecessionRepublicansstocksUSUS News
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Senators on the Energy and Natural Resources Committee’s Energy Subcommittee heard testimony July 13 on the drivers of high energy prices, a key issue for Americans across the country as inflation rages and November midterms loom closer. In May of this year, Rasmussen Reports found that 82 percent of likely voters in the United States…

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Oil Markets Affected by Supply Squeeze and Fears of Recession

July 13, 2022
Business & MarketsGold and CommoditiesinflationInternationalInternational Energy AgencyMarketsoil marketsOPEC oilrecessionRussian Oil TradeWorld
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Global oil markets are in a tough spot as recession fears and worries about supply push the sector into “walking a tightrope,” an International Energy Agency (IEA) report warned. Though a “resilient Russian supply” and weaker-than-expected oil demand growth in advanced economies have “loosened headline balances,” price tensions persist and refinery margins remain extreme, said…

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Dutch Dairy Farmer Faces Having to Cull 95 Percent of his Cows

July 13, 2022
Business & Marketsdutcheconomic policieseconomyEnvironmentEuropeGold and CommoditieslivestockMarketsnitrogenScienceThe NetherlandsWorld
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In the Netherlands, dairy farmer Martin Neppelenbroek is near the end of the line. New environmental regulations will require him to slash his livestock numbers by 95 percent. He thinks he will have to sell his family farm. “I can’t run a farm on 5 percent. For me, it’s over and done with,” he said…

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Kremlin Hopes Biden Will Not Seek to Turn Saudi Arabia Against Russia

July 13, 2022
bidenBusiness & MarketsEuropeExecutive BranchGold and CommoditiesInternationalMarketsMiddle EastOilPoliticsRussiaSaudiUSWorld
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MOSCOW—The Kremlin said on Wednesday that it hoped President Joe Biden’s visit to Saudi Arabia would not be used to try to foster anti-Russian relations, just as the United States seeks to convince Riyadh to boost oil production amid soaring prices. White House national security adviser Jake Sullivan said on Monday that Biden will make…

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Oil Edges Higher After Slide Below $100

July 13, 2022
Business & Marketseconomic policieseconomyglobalGold and CommoditiesMarketsOilrecessionstocks
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LONDON—Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a U.S. supply report showing rising inventories and caution ahead of U.S. inflation data. Despite a tight physical oil market, investors have sold oil futures on worries that aggressive rate hikes…

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Stocks and Euro Slip Ahead of Key US Inflation Data

July 13, 2022
Business & Marketscryptocurrencyeconomic policieseconomyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON— Stocks slipped on Wednesday and the euro lurked just above parity against the dollar, as traders waited to see if U.S. inflation data later bolsters the case for another supersized Federal Reserve rate hike this month. Recession worries meant Europe stumbled out the blocks after a relatively steady session in Asia Pacific where South…

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