Please try another search
Crude oil prices are rising after the stockpiles posted a modest gain and a decent improvement with demand. The EIA crude oil inventories report showed that demand for crude oil and gasoline improved, while distillates softened.
Crude exports surged 21.6% as shipments abroad reached the highest levels since November. Gasoline prices have not yet been impacted as stockpiles remain elevated, touching the highest levels since March.
Lately, it seems this oil market has a tendency to lean towards a bullish spin after any major oil event. WTI crude should find resistance ahead of the $83.50 level, but if that does not hold, we could see a mini breakout.
If risk appetite continues to take a big hit from the tech-driven selloff, that should also weigh on crude prices.
Gold prices are locked into consolidation mode as traders await to see how the Fed reacts to growing fears of a macro slowdown.
Risk aversion is running wild, but gold is not breaking because a slowdown will confirm disinflation trends will remain and a recession certainty could lead to rate cuts at the end of the year. Gold might trade between the $1935 and $1960 range until we get to the Fed event.
Gold prices consolidated near recent highs on Friday, as investors' sentiment deteriorated on the back of renewed banking sector concerns after the stock of the German giant...
Energy Secretary Jennifer Granholm helped sink oil by saying that it might take years to refill the Strategic Petroleum Reserve. That, along with renewed banking crisis fears now...
Concerns about lower sugar production in India and Thailand began tangibly supporting sugar prices (India is the world's second-largest sugar producer), while the focus will soon...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.