14th November 2019
WTI and Brent oil prices trade near weekly highs of $58 and $63 per barrel respectively at Thursday morning US trading session amid the unexpected lower US crude oil inventories according to API data, the OPEC’s prediction for lower-than expected US Shale oil production growth in 2020 and the lift of the restrictions from China to the US poultry meat imports.
7th November 2019
A risk-on appetite dominates the global markets this Thursday session as the two countries responsible for the trade dispute, the China and USA have agreed to proportionally cancel the existing tariffs imposed on each other’s goods during their trade war in different phases with the same proportion based on their agreement, according to the Chinese Commerce ministry.
31st October 2019
The US stock markets rallied to new record highs (S&P 500) on the Wednesday trading session cheering the new FED’s interest rate cut by 25 basis points to help sustain the US growth in the face of global economic slowdown. The Fed cut removed some of the recession fears going into 2020 even though the FED indicated a pause on its monetary policy easing cycle for now and there will be no hiking until inflation rises “significantly.”
30th October 2019
Mother Nature was the main factor behind the biggest two-day rally by 10% in the Natural Gas market since last winter (mid-January 2019) from Sunday night opening until yesterday as the weather models are forecasting colder temperatures in the USA for the first days of November.
11th October 2019
WTI and Brent oil prices rally by 2% during the Friday’s morning European trading session at $54.80 and $60.70 per barrel respectively after a report that an Iranian oil tanker caught fire after two missiles attacks near the Saudi Arabian port city of Jeddah in the Red Sea, adding once again a geopolitical risk premium in the oil prices together with the bullish positive trade talks between US-China which are close to announce a partial trade deal.
9th October 2019
WTI and Brent oil price are trading lower by -0.30% at $52.50 and $58.10 respectively during the start of the Wednesday’s European trading session as the relationship between China and the U.S. continues to deteriorate after the latest tit-for-tat restrictive measures between the two countries despite the coming US-China trade negotiations starting by tomorrow.
4th October 2019
Global equity markets moved higher after two-days of brutal sell-off as the investors bought the dip in the stocks in anticipation that the Federal Reserve will cut again the interest rates in the next October meeting, while the market awaits the US Nonfarm payrolls this afternoon.
16th September 2019
Crude oil prices had the largest ever intraday price jump of near 20% since the Gulf War in 1991 after the drone attack on the heartland of the Saudi Arabia’s petroleum facilities on Saturday morning, disrupting almost 5.7 million barrels per day, the half of Saudi’s oil production and almost the 6% of the global crude oil supply, adding geopolitical risk premium in the global crude oil prices.
6th September 2019
A huge risk appetite mood has dominated the global equity market since the positive trade talks announced from both US and Chinese sides to meet at the early October in US. All the major US and EU equity indices rallied by around 2% yesterday followed from the Asian markets this morning as well, cheering the de-escalation of the trade tension now.
5th September 2019
Gold and Silver prices dropped by -0.50% at $1.545/oz and $19.40/oz during the Thursday’s European trading session amid the rising market optimism on the de-escalation of the trade tension after US and China agreed to hold high-level trade talks in early October in Washington, US.
30th August 2019
Gold and Silver prices lost more than 1% from their recent multi-year highs, currently trading at $1.526/oz and $18.40/ oz respectively during the Friday’s European trading session after the de-escalation of the trade tension between the US-China followed from the positive comments from Trump and Chinese ministers to restart the trade negotiations.
8th August 2019
WTI and Brent crude oil prices rebounded in Thursday morning by 3% at $52.60 and $57.50 per barrel respectively after a report from Bloomberg that Saudi Arabia spoke with other oil producers to take actions for ending the recent heavy sell-off in the oil prices amid the escalated trade tensions between US and China.