Gold prices rose to an over one-week high on Wednesday as hopes for an interest rate cut by the US Federal Reserve next month increased. Silver prices also rose 1%, tracking gains in gold, with the metal nearing the $52 per ounce level. Meanwhile, oil prices were volatile throughout the day amid uncertainty over a
Volatility in energy markets, especially oil prices, is far from over amid the uncertainty surrounding the peace deal between Russia and Ukraine. Last Friday, the West Texas Intermediate oil prices fell to their lowest level of $56 per barrel in a month after having traded close to $61 earlier in the week. Last week’s selloff
Russia is looking to expand its energy partnership with China, with Deputy Prime Minister Alexander Novak announcing in Beijing on Tuesday that Moscow sees opportunities to increase oil exports and enhance cooperation on liquefied natural gas (LNG) supplies. Since Russia initiated its military action in Ukraine in February 2022, China and India have emerged as
After having spent most of the day in the red, gold prices rebounded due to renewed expectations of a December interest rate cut by the Federal Reserve. On the other hand, silver prices dipped nearly 2%, but hopes for a rate cut limited losses. Oil prices fell, and were set for a weekly decline as
Gold prices were largely unchanged on Thursday, even as the dollar strengthened against a basket of major currencies. Prices had fallen 1% earlier on Thursday, but the yellow metal recovered somewhat as the day progressed. Meanwhile, silver prices were largely unchanged from the previous close after falling sharply earlier in the day. On the other
Russia’s central bank announced Wednesday that its engagement with the domestic gold market—both buying and selling for the National Wealth Fund (NWF)—has been on the rise, citing the yellow metal’s growing liquidity. The central bank of Russia has seen a substantial portion of its foreign exchange reserves, held in key Western currencies such as the
Exxon Mobil announced Tuesday that its Fife ethylene plant (FEP) in Scotland will shut down in February 2026, citing a combination of high supply costs, weak market conditions, and the challenging UK economic and policy environment as reasons for the closure. European chemicals producers, which constitute the European Union’s fourth-largest exporting sector, trailing only machinery,
Gold and silver prices fell on Monday as traders assessed expectations of rate cuts by the US Federal Reserve. Meanwhile, oil prices were steady as loadings have restarted at the Russian export hub of Novorossiysk, a Black Sea port, following a two-day pause caused by a Ukrainian attack. Prices of base metals were also in
Expectations are rising for a significant increase in US natural gas demand over the next few years. This anticipated surge is primarily fueled by two factors: expanding LNG export capacity and greater consumption from the power sector, driven by continued investment in data centers, according to an ING Group report. The US stands as the
Crude oil price paused on its downtrend in Thursday’s intraday trade after hitting a fresh three-week low earlier in the session. A weaker US dollar helped offset some losses from the previous session by rendering the commodity less expensive for buyers holding foreign currencies. Nonetheless, it remains under selling pressure as the market digests the