Oil Prices Progress Plunging As Explorer Stream For The Exit
After having dipped 5 percent on Wednesday, oil prices continued plunging on Thursday by more than 2 percent, as speculators have started exiting the nearly record long positions in oil futures that they had amassed.As of 11:54 AM (EST), WTI Crude was trading down 2.27 percent at US$49.14, while Brent was down 2.09 percent at US$52.00.Having traded in a tight range with low volatility for three months, oil prices are now breaking loose, and WTI is testing the US$49 floor, after it dipped below US$50 for the first time since December. The volatility could create a sense of panic and prompt even more speculators rush to liquidate their long positions, according to The Street.“It’s a combination of an overhang of (speculative) length and the overhang in inventories ... and the other thing unnerving the market is rapid growth in U.S. crude production,” Andrew Lebow, senior partner at Commodity Research Group in Darien, Connecticut, told Reuters on Wednesday.
Trump's economic policy Investors were looking ahead to an address by Trump to Congress next week for further clarity on his economic pol... read more ...
Silver acts as an inflation hedge, and in times of crisis, small quantities may be used for smaller, daily transactions compared to holding a tradi... read more ...
Gold prices soared by Rs325 to regain the Rs30,000-mark and trade at over 4-month high of Rs30,175 per 10 grams at Delhi bullion market on Saturday... read more ...
its three-week gains at the bullion market, on reduced offtake due to holiday-truncated week despite firm global trend.Marketmen said easing demand... read more ...
Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
But... read more ...
The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week endi... read more ...
Silver Price Equal Off with Notable Support
See the Webinar Calendar for a schedule of upcoming live events with Paul or... read more ...
BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
read more ...