Archive for Category: Market Outlook Commodities

Oil prices

Oil prices rose on Chinese demand expectations

Chicago WTI crude oil futures price is down 0.05% at $112.34 per barrel on mid-Wednesday trades. Crude oil opened the week on a heavy bullish pressure, gaining around 3.00% on Monday. However, oil reverses its Monday gains by losing approximately 1.5% on Tuesday. Oil prices edged higher on Wednesday...

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Gold futures

Gold falls below the $1800 – level during Monday trades

Gold futures at COMEX is down at 0.48% at $ 1815.7 on mid-Monday trades. Gold opened this week on a bearish note after witnessing a plunge of nearly 4%. The price is currently trading below the $1800 – level and is nearing this year’s low of $1780 attained during...

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Wheat futures price

Wheat rises on supply constraint

Chicago wheat futures price is down 0.55% at $11.6 per bushel on mid-Friday trades. Wheat prices rose this week on supply constraint, a view bolstered by a US report. According to a report released by the US Department of Agriculture, production in Ukraine, one of the biggest growers, will...

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Copper futures price

Copper resumes selloff on demand fears

Chicago Copper futures price is down 3.67% at $4.0525 per pound on mid-Thursday trades. Copper opened this week on a bearish note, witnessed a temporary rebound on Wednesday, and a resumption in its bearish momentum. This latest bearish drag has pushed the price to the lowest level since September...

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WTI crude oil futures price

Oil claw back above $100 after a breach below on Tuesday

Chicago WTI crude oil futures price is up 4.26% at $104.01 pe barrel on mid-Wednesday trades. Crude oil opened this week on a bearish note witnessing heavy selling pressures as prices dropped around 6.0%. On Monday, the broader market selloff resulted from the European Union (EU) softening up on...

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wheat futures price

Wheat rose on supply concerns

Chicago wheat futures price is down 0.95% at $11 per bushel on mid-Frida trades. Wheat prices rose this week on weather concerns among top global producers and as India mulls export restrictions on wheat. The record heat waves in India are hurting wheat harvest. At the same time, soggy...

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market outlook

Gold starts May with a bearish note

Gold futures at COMEX is down 1.92% at $1875 per troy ounce on mid-Monday trades. Gold opened May on heavy bearish pressure. Price has gone below the $1,900 price level as price declines due to the strengthening U.S. dollar, and Fed’s tightening monetary policy among other factors. It is...

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wheat futures price

Wheat poise to rise for the third straight month on supply constraints

Chicago wheat futures price is down 0.12% at $10.6 per bushel on mid-Friday trades. Wheat opened this week on a bearish note and continued trading within a range. It is poised for a third straight monthly gain as tightening global supplies after Russia’s invasion of Ukraine underpinned prices. The...

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copper futures

Copper declines further after a brief relief from the Chinese comment

The price of COMEX copper futures is down 0.42% at $4.4380 per pound. It continues its negative momentum which rebounded briefly on Wednesday as China’s central bank announced that it will step up its support for the economy. The metal on Monday fell to its lowest in three months...

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