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The commodity boom came to an abrupt end! Basic metals fell across the board, copper and nickel fell sharply, and crude oil fell three times in a row
The minutes of the Federal Reserve meeting show that the Federal Reserve may postpone interest rate cuts due to continued inflation, thus suppressing market expectations of interest rate cuts, and crude oil prices fell in response. Lun Copper closed down 4.05%, while Lunn Nickel fell 4.4%. Some analysts pointed out that the main reason for the decline in copper prices may be related to investors starting to make a profit settlement after copper prices hit a record high, recent weakness in copper demand, and a possible increase in copper production in Peru in 2024.
Learn Citadel, Commodities “Arms Race”: AI and Big Data
Russell Hardy, CEO of Vitol, said that trading companies mainly use AI in two ways: one is to improve business efficiency, and the other is to gain trading advantages through stronger analytical capabilities.
After keeping an eye on the Middle East for a week, oil prices finally “fluctuated” and returned to a “waiting mode”
Although oil prices have never surpassed the high before Iran attacked Israel last weekend, the volume of bullish Brent crude oil options soared to a record high. Brent crude oil futures fluctuated the most in a few months, leaving traders in almost the same situation as a week ago during the weekend, waiting for the next steps of Israel and Iran.
Oil Markets React to Reports of Israeli Attack on Iran
Oil pared an earlier jump, after Iranian media appeared to downplay alleged retaliatory strikes from Israel reported by US officials. Brent crude traded about 2% higher after earlier soaring above $90 a barrel over potential concerns for a wider regional conflict. Bloomberg's Stephen Stapczynski reports.
Goldman Sachs: $90 a Barrel Likely Ceiling for Brent Crude
Daan Struyven, Goldman Sachs head of oil research, says that if there are not any new geopolitical tensions, the path of least resistance for oil is to drift lower. He speaks on Bloomberg Television.
Oil price crossroads! Goldman Sachs: How Israel responds will determine the direction of the market
Goldman Sachs believes that the market's outlook for crude oil depends on Israel's next move, which will determine the prospects for oil supply in the Middle East region. Preliminary calculations include a geopolitical risk premium of 5-10 US dollars/barrel.
OPEC Doesn't Want to Be Behind SPR Release: CIBC's Babin
Rebecca Babin, CIBC Private Wealth Group senior equity trader, says the increasing geopolitical risks are forcing oil prices higher and OPEC will want to be ahead of any planned release from the Strategic Petroleum Reserve on Bloomberg Television.
PetroChina Reports FY Results
Oil prices have risen four times in a row, reaching 80 US dollars. Investment banks warn that “the market is more tight than current prices”
J.P. Morgan Chase and Standard Chartered Bank predict that global oil inventories will drop 1.6 million barrels per day this month, and oil prices will rise by $10 by May.
What happened to the sudden surge in oil prices?
Yemen's Houthi armed groups say they attacked an American freighter, Ukrainian drones attacked Russian gas giants, and the combination of extremely short cold weather continues to hinder US crude oil production. “The market is finally beginning to worry about real supply disruptions.”
OPEC Expects 'Robust' Oil Demand in 2025
The Organization of Petroleum Exporting Countries has released the group’s first detailed assessment of 2025, and forecast that global oil demand will continue to increase strongly and exceed growth in supplies. Su Keenan reports on Bloomberg Television.
Vanda Insights' Hari on Oil, Middle East Tensions
Vandana Hari, Founder of Vanda Insights, discusses her outlook for the oil markets after the US and its allies launched airstrikes against Houthi rebels in Yemen. She speaks with Shery Ahn on "Daybreak Asia".
International oil prices surged 4%. After the “air strike”, many tankers turned in the Red Sea, and supply fears intensified
The “sense of supply security” that still existed last week has begun to falter this weekend.
How Commodity Capex Depression Will Lead to a New Bull Market
Topdowncharts noted that the capital expenditures (capex) depression would most likely result in a higher floor for commodity prices, potentially signaling the commencement of a fresh cyclical bull market for commodities.
Wall Street Cautious on Energy Stocks as Oil Glut Limits Potential for Rally
Wall Street is bracing for another tough year for energy stocks, anticipating that a surplus of oil supplies will prevent geopolitical tensions from driving a significant increase in crude prices.
Red Sea Tensions Rise: Navigating the Impacts on Global Shipping and Oil Prices
Since December, Houthi rebels in Yemen have attacked cargo ships passing near the Red Sea, leading several container shipping companies to announce the suspension of routes in the Red Sea region. Following another attack on a cargo ship, Maersk announced on December 31st a further 48-hour suspension of all Red Sea transportation. As the situation in the Red Sea changes once again, the impact has been felt with all con...
Oil Demand to Remain 'Relatively Robust,' ANZ Says
Daniel Hynes, senior commodity strategist at ANZ Group Holdings Ltd., discusses the outlook for oil, which rose a third day as traders and shippers braced for the prospect of more disruption in the Red Sea. He speaks on "Bloomberg Daybreak: Australia."
Oil prices soar, shipping stocks soar, consume 20% of global capacity, and affect 30% of Israel's imports. What does the “Red Sea blockage” mean?
The risk of spillover from the Arab-Israeli conflict has spread to international shipping. Analysis predicts that the risk of supply chain disruptions has further intensified, and the Suez Canal, the “main artery” of shipping, is also at risk of being shut down.
PetroChina Reports Q3 Results
How many official songs? World Bank warns: even if the Palestinian-Israeli conflict affects crude oil supply even a little, oil prices will break 100
The World Bank believes that if the Middle East conflict escalates, the price of crude oil may rise above $150 per barrel.