Connect with us

Economics

Oil edges higher, gold range-bound

Oil higher despite surprise inventory build Oil prices are edging higher once more even as the EIA reported a surprise increase in inventories last week….

Published

on

This article was originally published by Market Pulse

Oil higher despite surprise inventory build

Oil prices are edging higher once more even as the EIA reported a surprise increase in inventories last week. The market remains extremely tight and that is keeping the upward pressure on crude prices. The OPEC+ increase was more a token gesture than one of substance and the continued reopening of China means demand is going to rise further. To make matters worse, oil workers in Norway could begin strike action this weekend causing supply disruptions to a relatively small amount of output, to begin with. ​

Gold steady ahead of US inflation data

Gold is back above USD 1,850 but continues to fluctuate in the same ranges it has for many weeks now. For gold, it’s all about the US inflation data on Friday and the Fed next week. Any surprises in the inflation data could shake things up in the markets and see the yellow metal break the recent range, perhaps even quite aggressively. While a US recession isn’t the base case at the moment, a few more nasty surprises on the inflation front could see that change.

For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/

gold
inflation
markets
fed

Economics

Palladium price outlook as Russia looks to limit production

Jonathan Barratt is the CEO of CelsiusPro Australia, a boutique climate risk InsurTech company. In an interview with CNBC, Mr. Barratt raised the interesting…

Continue Reading
Economics

CoreLogic says home prices are falling faster; CBA says the economy is next

CoreLogic says the slump in Australian property values has probably gone airborne. And you can pop your masks back on … Read More
The post CoreLogic…

Continue Reading
Economics

Household Income Distribution in the U.S. Visualized as 100 Homes

This visual breaks down U.S. household income categories as 100 homes, based on the most recent data from the U.S. Census Bureau.
The post Household Income…

Continue Reading

Trending