Category: Gold and Commodities

Dollar Wavers With ECB Minutes and Friday’s US Jobs Data in Focus

October 6, 2022
Business & Marketseconomic policieseconomyenergyForexglobalGold and CommoditiesinflationMarketsrecessionstocks
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SYDNEY/LONDON—The dollar wobbled lower on Thursday, resuming its slide from early in the week, as investors looked ahead to U.S. labor and inflation data for any sign of softness that could signal an eventual slowdown in U.S. rate hikes. After surging on Wednesday, the greenback struggled to hold its gains, and the euro climbed around…

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Oil Near Three-Week High on Cuts to OPEC+ Output Targets

October 6, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices held near three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020. Brent crude futures edged down 16 cents, or 0.2 percent, to $93.21 per barrel by 1020 GMT after settling 1.7…

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Stocks Waver as Dollar Eases, Oil Steadies on OPEC+ Deal

October 6, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares struggled for firm footing on Thursday as the dollar eased ahead of U.S. jobs data that could offer a steer on the outlook for interest rates, while oil prices stabilized near three-week highs after OPEC+ agreed to cut output. Investors are anxiously waiting for confirmation from Friday’s U.S. non-farm payrolls report of the…

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Closing Prices for Crude Oil, Gold and Other Commodities (Oct. 5)

October 5, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for November delivery rose $1.24 to $87.76 a barrel Wednesday. Brent crude for December delivery rose $1.57 to $93.37 a barrel. Wholesale gasoline for November delivery fell 1 cent to $2.67 a gallon. November heating oil rose 15 cents to $3.69 a gallon. November natural gas rose 9 cents to $6.93…

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US Gas at $4–$5 Is a Thing of the Past, Says Tellurian Chairman

October 5, 2022
Business & MarketseconomyenergyGold and CommoditiesLNGMarketsTellurianUSUS News
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LONDON—The chairman of liquefied natural gas (LNG) company Tellurian Inc., Charif Souki, on Tuesday said that cheap U.S. gas is a thing of the past and the only solution for Europe’s energy crisis is to invest in U.S. gas infrastructure. “Getting (U.S.) gas in the water for $4–$5 is something of the past; if you…

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OPEC+ Agrees to Sharp Oil Output Cut in Blow to Biden

October 5, 2022
Business & MarketseconomyenergyGold and CommoditiesinflationMarketsoil productionOPECPolicies & ImpactsPoliticsUSUS News
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The OPEC+ alliance of crude-producing countries has agreed to deep cuts in oil output, providing a likely floor to falling prices and delivering a blow to President Joe Biden’s pleas for the cartel to boost production to help quell soaring inflation. The Organization of Petroleum Exporting Countries (OPEC) and its oil-producing allies, known as OPEC+, agreed…

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OPEC+ Agrees to Sharply Cut Oil Output in Blow to Biden

October 5, 2022
Business & MarketseconomyenergyGold and CommoditiesinflationMarketsoil productionOPECPolicies & ImpactsPoliticsUSUS News
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The OPEC+ alliance of crude-producing countries has agreed to deep cuts in oil output, providing a likely floor to falling prices and delivering a blow to President Joe Biden’s pleas for the cartel to boost production to help quell soaring inflation. The Organization of Petroleum Exporting Countries (OPEC) and its oil-producing allies, known as OPEC+, agreed…

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Oil Maintains Most of Recent Gains Ahead of OPEC+ Meeting

October 5, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesMarketsOilstocks
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LONDON—Oil inched lower on Wednesday after gains in recent days ahead of the OPEC+ producers’ meeting later in the day. Brent crude was down 23 cents, or 0.3 percent, at $91.57 a barrel at 0839 GMT while U.S. West Texas Intermediate (WTI) crude fell 32 cents, or 0.4 percent, to $86.20 a barrel. Both contracts…

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Dust Settles on Stocks Surge, Oil Market Waiting for OPEC+ Supply Decision

October 5, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks clung to two-week highs on Wednesday, although another aggressive rate increase from New Zealand tempered the idea that central banks may be close to slowing down the pace of rapid monetary tightening. Oil prices were little changed before OPEC+ producers meeting after gaining more than 3 percent in the previous session. Asian shares rallied,…

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America Can ‘100 Percent’ Avoid Recession If Biden Makes One Key Policy Shift: Billionaire John Catsimatidis

October 4, 2022
Business & Marketseconomic policieseconomyenergyExecutive Branchfossil fuelGold and CommoditiesinflationJohn CatsimatidisMarketsPolicies & ImpactsPoliticsrecessionUSUS News
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New York billionaire and refiner John Catsimatidis said that if the Biden administration reversed its hostile attitude toward oil and fossil fuels, America could “100 percent” avoid falling into a recession and inflation would ease. Catsimatidis made the remarks in a recent interview on The Epoch Times’ sister media NTD, in which he expressed concern…

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