OANDA Senior Market Analyst Craig Erlam discusses gold's drop which came as the dollar continued to soar.
29-04-2022 10:18 GMT
by Craig Erlam
Commodities: all news & analysis
Explore our extensive commodities news, which unveils critical insights into price movements, trends, and expert forecasts in the raw materials market. By examining price actions and understanding the factors influencing commodity values, understand current market dynamics. This page is designed to boost your research on historical trends, identify seasonal patterns, and sharpen your trading strategies across sectors such as energy, metals, and agriculture. Equip yourself with the knowledge necessary to enhance your understanding of the commodities landscape and elevate your trading decisions.
Oil edges higher as EU moves closer to a Russian oil embargo
It seems the EU is moving closer to an oil embargo which some may argue is overdue in light of Russia's aggression in Ukraine. Naturally, the devil will be in the detail but the moves we're seeing in crude prices suggest the small print won't live up to the headlines.
29-04-2022 08:13 GMT
by Craig Erlam
Europe/Russia oil ban fears lift oil prices
Oil markets rallied overnight and are also having a “wax-on, wax-off” week as they are bounced between China slowdown fears, and European energy bans, be they Russia or European-derived. Overnight, it was the energy bans that won the day as reports emerged that Germany and Hungary had moved into the ban on Russian oil imports camp.
29-04-2022 03:48 GMT
by Jeffrey Halley
US stocks got a boost from strong earnings and mixed economic data that still suggests the economy is on solid footing as consumer demand continues to handle surging prices. Facebook, McDonalds, and Qualcomm all posted strong earnings that kickstarted today's rally.
28-04-2022 15:28 GMT
by Edward Moya
Oil range tightening is perhaps a sign of a coming breakout
Oil prices are edging higher on Thursday, continuing to recover from the lows earlier this week when Brent briefly breached USD 100 again. Ultimately, we're continuing to see consolidation in crude markets, with the range tightening and potentially setting us up for a volatile breakout in the coming weeks.
The same factors remain at play here and could be the catalyst for an eventual breakout, be it further Chinese lockdowns, slow outpu
28-04-2022 13:32 GMT
by Craig Erlam
Oil slides on rouble buying plan
Oil markets were steady overnight as most of the news around the Russian gas ban on Poland and Bulgaria has been priced into the late New York session previously. In Asia, oil prices are sliding which I put down to a combination of two things.
28-04-2022 04:54 GMT
by Jeffrey Halley
Oil
It was a busy day for energy traders after Germany signaled they were ready to support a gradual ban on Russian oil, the EIA crude oil inventory report posted a small crude build, and King Dollar continues to weigh on commodity prices. Too much to digest, but the key takeaway is that oil prices will likely remain above the USD 100 level as long the dollar doesn’t have another massive rally.
27-04-2022 13:57 GMT
by Edward Moya
Oil prices slip even as gas prices soar
Natural gas prices in Europe have understandably spiked in the aftermath of Russia's decision to cut off Poland and Bulgaria. Suddenly the market is forced to price in the Kremlin taking similar action against much larger customers, having decided that the threat of Europe imposing the embargo was low given certain resistance.
27-04-2022 11:05 GMT
by Craig Erlam
Oil trades sideways in Asia
Oil markets reversed their losses from Monday overnight, rising after Russia announced natural gas export bans on Poland and Bulgaria from today unless they paid in roubles. Brent crude rose by 2.85% to USD 105.40, and WTI rallied by 3.10% to USD 101.60 a barrel.
27-04-2022 04:52 GMT
by Jeffrey Halley
Russian oil payment demands spooks the market
The Ukraine/Russia conflict has suffered some headline fatigue of late, and more than a little complacency by the world’s financial markets, as China's slowdown fears grabbed centre-stage. With a nod to the Rolling Stones in the title of today’s newsletter, the economic ripples of the Ukraine conflict are back on the front pages.
27-04-2022 04:04 GMT
by Jeffrey Halley
Oil moves higher
Oil is making a comeback as energy traders focus on tightness in the diesel markets and shift the focus back to Russian energy supplies and the rising danger of nuclear war in Ukraine. Earlier crude prices got a boost after China's PBOC stepped up efforts to calm markets and as energy traders await China's mass COVID testing results, which could lead to even more lockdowns.
The oil market has priced in enough demand destruction from China and crude prices should start to find s
26-04-2022 14:17 GMT
by Edward Moya
Oil rises in Asia
Oil markets were sold heavily overnight on the China risk-aversion trade, as growth fears fed through to lower oil demand calculations. Brent crude fell by 3.45% to USD 102.50 after testing and bouncing off the USD 100.00 a barrel region intraday.
26-04-2022 05:17 GMT
by Jeffrey Halley
US stocks were under pressure earlier as investors couldn’t quite summon up the courage to ‘buy the dip’ as global growth concerns were driven as China seems poised they won’t back away from their zero COVID strategy. With no more Fed speak until next week’s policy decision, the bond market selloff was ready for a pause.
25-04-2022 16:35 GMT
by Edward Moya
Oil falls heavily in Asia
Oil markets fell on Friday as risk aversion and China growth fears weighed on prices. Brent crude fell by 2.40% to 106.10, with WTI falling by 2.20% to USD 101.70 a barrel.
25-04-2022 05:11 GMT
by Jeffrey Halley
Or could we finally see a bearish breakout?
The recent rally in gold appeared to be building momentum but just as it did, it ran into firm resistance around $2,000 and it's been downhill since then.
The yellow metal may have been supported by higher inflation expectations but yields have continued to rise as traders price in more rate hikes on the back of some very hawkish Fed commentary.
Since falling just short of a major breakout, the price has been falling but could things start to look
22-04-2022 19:23 GMT
by Craig Erlam
Big events keep coming
It could be an interesting start to the week depending on who wins the second round of elections in France on Sunday. Marine Le Pen has made significant progress over the last five years and the race for the Presidency is expected to be much closer this time as a result.
22-04-2022 17:58 GMT
by Craig Erlam
Oil choppiness continues
Oil remains choppy with China and the Fed creating a bit more two-way price action amid very tight markets. The risks are certainly more tilted to the upside, given the war in Ukraine and a potential embargo on Russian exports, but lockdowns in China and the risk of a Fed-driven economic slowdown are also significant.
Central banks may be targeting a soft landing while belatedly combating very high inflation but that is very hard to achieve and there are plenty of reas
22-04-2022 08:47 GMT
by Craig Erlam
Oil markets are surprisingly quiet.
Oil markets, by their standards, have been surprisingly quiet for the past few sessions, consolidating after hefty losses earlier in the week. At this stage, fears over China's growth and overtightening by the Fed capping US growth seem to be balancing out concerns that Europe will soon widen sanctions on Russian energy imports.
22-04-2022 02:06 GMT
by Jeffrey Halley
Oil higher as EU nears Russian ban
Oil prices are heading higher again, up more than 2%, as reports suggest the EU is nearing a framework for phasing out Russian oil imports. Given how big a market it is for Russia, accounting for roughly half its exports, that will come as a real blow to the Kremlin.
21-04-2022 11:52 GMT
by Craig Erlam
Oil markets are surprisingly quiet
Oil markets traded sideways overnight, with China's growth fears offsetting a large drop in official US crude inventories overnight. With the geopolitical news ticker fairly quiet, oil markets contented themselves with consolidating the previous day's gains.
21-04-2022 04:26 GMT
by Jeffrey Halley