News
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Gold price slumps below $2,500 post-US PCE data
Gold prices tumbled over 0.90% on Friday, below the $2,500 figure for the second day in the week after a report from the US Department of Commerce revealed that inflation continues to edge lower, according to July’s core Personal Consumption Expenditures Price Index (PCE).Fxstreet
Fri, Aug 30
Rapid production losses in Libya, new announcements of cuts elsewhere – Commerzbank
The production losses in Libya are spreading rapidly: According to media reports, oil production has now been cut back by up to 700 thousand barrels per day and all export ports in the east of the country are closed, Commerzbank’s FX Analyst Barbara Lambrecht notes.
Fxstreet
Fri, Aug 30
Do OPEC+ countries dare to gradually increase production? – Commerzbank
There is no end to the ups and downs on the oil market: after the price of a barrel of Brent crude climbed well above the $80 mark at the beginning of the week in the wake of geopolitical tensions and the threat of production losses in Libya, it initially fell sharply again.Fxstreet
Fri, Aug 30
Crude Oil regains holds above $75 as supply woes persist
Crude Oil prices are afloat around $75.50 on Friday after a sprint higher on Thursday. Markets are dialing in on the Libyan political turmoil, which could result in an unforeseen shortfall of roughly 1 million barrels per day in the near term. Meanwhile,Fxstreet
Fri, Aug 30
Oil trades sideways amid fresh Red Sea attacks, Ukraine targeting Russian facilities
Oil prices are starting the European session trading broadly flat, halting a two-day decline after traders were quick to take profit on the back of earlier news that Libyan Oil fields were set to shut down over local political issues.Fxstreet
Thu, Aug 29
