During last week, major energy commodities changed direction and rallied while precious metals continued to trade down. Last week several U.S reports were published: U.S GDP for the third quarter was revised up to a growth rate of 3%; the…
During last week, crude oil prices rose again despite the downward trend of certain “risk currencies” such as Canadian dollar and Aussie dollar against the USD. Based on the latest EIA report, oil stockpiles fell by 1.9MB. During the previous…
Crude oil prices continued to rise during lost of last week. The U.S stockpiles changed direction and slightly increased according to the latest EIA report. The gap between Brent and WTI slightly narrowed to a range between $20 and $21…
Natural gas (short term delivery) changed direction and rallied during last week and reached its highest level in two weeks. According to the recent EIA report, the NG storage declined by 82 Bcf; this fall in the storage might have…
Gold and silver resumed their downward trend and declined during last week. The discussions around the U.S multi-year budget in an attempt to avoid the fiscal cliff may have contributed to the sharp changes in the bullion market. Several U.S…
Many energy commodities traded mostly down on the last business day of the week: the price of Brent oil and WTI oil changed direction and fell– WTI oil increased for five consecutive business days before falling yesterday; the prices of…