The negative price of crude oil in Cushing, Oklahoma, was caused by an apparent widespread forecasting error. Financial investors in crude oil futures did not predict the quarantine nor its consequence. They had no idea that the global demand for crude would decrease close to 30%. By the end of April, this would take over …
Disruption in the oil and milk sector paved a way to charity Read More »
Weaker dollar overshadowed optimism, and gold prices climbed higher on Wednesday. Meanwhile, investors awaited the Federal Reserve’s decision later in the day. Spot gold climbed 0.1 % to $1,709.83 per ounce. US gold futures gained 0.2 % to $1,725.20 per ounce. Kyle Rodda, IG Markets analyst, said that there is a lot of uncertainty around …
Dmitry Peskov, a spokesman for the President of Russia’s office, said that Russia could tolerate meager oil prices. The country has an excellent ability to maintain itself for a period of declining oil prices. However, the country was cautious in using oil reserves. The Kremlin official said it was difficult for President Putin to postpone …
Russia is ready to go through a period of declining oil prices Read More »
Gold prices saw some gains in early US trading Monday. The yellow metal still has a firmly bullish technical posture. June futures for gold Crude oil prices dropped sharply. Gold prices may have seen some additional haven buying interest. Precious metals have become the focus of attention for traders and researchers recently. Bank of America …
Strategists say that if the collapse in oil prices this week was bad, it could be fundamentally worse next month. In fact, prices could fall as low as -$100 per barrel. Paul Sankey, the managing director of Mizuho Group, stated that oil is difficult to handle. It’s impossible to store oil everywhere. Storage will be …
In an attempt to stem the damage of low oil prices, Saudi Arabia plans to reduce Riyals to 120 billion ($32 billion) from its cash reserves. Mohammed Al-Jadaan, the minister of finance of SA, said that the Coronavirus pandemic is destroying the economy. Despite the measures the country has taken to combat deficits in the …
Gold regained its luster on Wednesday after a bad day on Tuesday and is currently recovering the 1,700 level against the dollar. The reason is the approval of the expansion of the PPP in the Senate. The speculation that a new wave of dollars will flood the market means more money that investors will use …
Gold Retrieves $1,700 for Optimism; New Avalanche of Dollar Read More »
In comparison to February, five out of eight critical farming commodities resumed impressive exports with a two-digit increase in March. These five farm commodities include cashew, vegetables, rice, pepper, and cassava. The coronavirus pandemic hasn’t affected the shipping of products, stated the General Department of Customs. Cashew nuts had the most significant export growth rate. …
Which five essential farm commodities saw growth in March? Read More »
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