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Commodities
U.S. EIA Anticipates Crude Oil Production to Surpass 2019 Peak
February 08, 2021 02:33 PM AEDT| By Kunal SawhneyThe United States Energy Information Administration (EIA) anticipates the U.S. crude oil production to rebound to another record high in 2023 after taking a toll from the COVID-19 outbreak. Source: Copyright © 2020 Kalkine Media Pty Ltd Glob...
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Crude Oil Rally Continues on Declining US Stockpile
February 05, 2021 08:24 PM AEDT| By Team Kalkine MediaThe latest Energy Information Administration (EIA) report with crude oil stockpile data has sparked celebrations across the oil industry. The trend in the weekly inventory data has highlighted a drawdown in the levels. Connecting the dots between t.....
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Crude Oil Prices Stall, Will the Northward Move Continue?
February 03, 2021 12:01 PM AEDT| By Team Kalkine MediaCrude oil price rally has stalled with prices of Brent crude oil futures trading in a range of USD 55.00 to USD 57.50 per barrel. The surge in prices witnessed over the past couple of weeks could be primarily linked to the production cut as announce...
Silver Surge Continues, Riding High on Reddit Mania
February 02, 2021 02:09 AM AEDT| By Hina ChowdharyA global surge in silver prices refused to abate on Monday fueled by the frenzy traders on Reddit. After targeting some less-popular stocks for short-squeeze last week, raising unusual volatility in the North American markets, these traders.....
Gold Had A Terrific 2020; How Did Platinum Fare?
January 31, 2021 12:33 AM AEDT| By Kunal SawhneyThe emphatic gold rally was seen at the start of 2020 in various parts of the world because of its limited supply and high demand as a safe-haven investment. COVID-19-driven lockdowns induced financial droops, globally, which further added.....
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After Saudi Arabia, Iraq pitches in with Crude Oil production cut
January 28, 2021 02:48 PM AEDT| By Team Kalkine MediaIraq produced at an average of 3.821 Mbbl/day throughout the last quarter of 2020 as per the OPEC January MOMR data. To make up for the extra production than the decided quota, Iraq has announced a production cut of 25,000 bbls per day of crude oil.....
IEA Slashes Global Oil Demand For 2021 Over Renewed Lockdowns
January 20, 2021 03:38 AM AEDT| By Team Kalkine MediaThe International Energy Agency (IEA) has cut down its previous estimates for global oil demand due to the fresh wave of COVID-19-led lockdowns. The international agency reduced the projected global oil demand growth for the present quarter by 600.....
How Chinese Ban on Australian Coal Reshuffled The Global Coal Trade?
January 15, 2021 05:20 PM AEDT| By Kunal SawhneyThe Australian mining sector accounts for around 10% of the country’s GDP and makes up for over 50% of the nation's exports. Asian countries including China, Japan and South Korea are the major importers of Australian resources. The Oceanian.....
Crude oil bulls stare at USD 60 a barrel, forecasts and estimates you should know
January 14, 2021 11:45 AM AEDT| By Team Kalkine MediaCrude oil prices are inching up smartly with prices of Brent crude oil futures nearing the 11-month high of USD 60.0 a barrel. Image Source: © kalkine Group 2020 Trend shifts as consumption picks steam The shift in the global demand and sup...
Oil Price At 11-Month High As Dollar Weakens & Saudi Output Cut Plans
January 13, 2021 01:42 AM AEDT| By Kunal SawhneyOil prices jumped to a 11-month high as the US dollar weakened in the early hours of Monday, January 12. Brent oil price surged 1.60 per cent to US$ 56.55 per barrel, while the Crude Oil West Texas Intermediate (WTI) Futures soared as much as 1.61 .....
Gold price loses sheen as US govt bond yields shoot up
January 09, 2021 02:56 PM AEDT| By Team Kalkine MediaThe yellow metal lost some of its shine on Friday as gold slumped on the bullion market by over 3.4%, as the US presidency risks faded away and the US government bond yield grew to its highest level since March 2020. The toll on the gold price soon.....
Gold breaking out of slumber, what are charts saying?
January 08, 2021 12:30 AM AEDT| By Team Kalkine MediaGold has been under a crabwalk for a while with economic situations around the globe taking a turnaround with the rollout of COVID-19 vaccine. The spot market has been stuck in a range for quite a while; however, after a period of slow moves, gold ha...
Crude Oil Rallies to 10-Month High After Production Cut Decision
January 06, 2021 01:30 PM AEDT| By Hina ChowdharyThe oil producer group OPEC+ concluded a meeting over oil production levels in coming months on Tuesday, 5 January 2021. The resurgence of new strains of COVID-19 virus in different parts of the world is spooking oil producers. In a recent developm.....
Will 2021 Bring Respite for Last Year’s Worst Performing Commodities?
January 05, 2021 04:43 PM AEDT| By Team Kalkine Media2020 was the year of commodities. The broad segments of industrial, precious and energy commodities witnessed the consumption-demand shock, on the back of widespread lockdown measures and reduced industrial activities during the year. The price of.....
Commodities Gaining Strength from the Green Energy Drive
January 04, 2021 05:58 PM AEDT| By Team Kalkine MediaThe green ambition finally seems to be picking some pace and might emerge as a major theme for the year 2021 with Biden sweeping away the election result with Green Energy being one of his moot points. The green energy space might also get highlight...
How was 2020 for Commodities and What is anticipated in 2021?
January 02, 2021 12:34 AM AEDT| By Team Kalkine MediaWe are entering a new year, and 2020 has been a volatile year for markets, be it equities or commodities. The COVID-19 pandemic pushed the major central banks and governments across the globe to take drastic measures to avoid the economy from sliding...
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What does 2021 hold for Crude Oil?
December 30, 2020 09:21 PM AEDT| By Team Kalkine MediaThe crude oil volatility has waned in recent months, and further price recovery lingers on the pandemic containment measures and the vaccination drives across the globe. During the wild swings in April 2020, the prices for the Western Texas Interm.....
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Is the Recent Rally in Base Metals due to Price Seasonality?
December 29, 2020 08:41 PM AEDT| By Team Kalkine MediaCopper’s Price Action Summary: Copper prices are trading in a perfect symmetrical triangle pattern on a quarterly timeframe chart on Shanghai Future Exchange. It started the year with a bearish tone and gave negative quarterly closing, near .....
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Iron ore jolts another record high, is there more steam left in the rally?
December 22, 2020 04:37 PM AEDT| By Team Kalkine MediaIron ore prices are once again capturing the attention as the prices spike to another record high over supply concerns and robust demand from China. The commodity clinched RMB 1,194.00 per dry metric tonne on the Dalian Commodity Exchange (DCE) on 21...
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Before his White House departure, Trump has a spree of mining, energy project approvals
December 21, 2020 03:25 PM AEDT| By Hina ChowdharyAs per media reports, the United States President Donald Trump is rushing to flag off a final wave of major mining and energy projects on the federal lands. This comes ahead of him leaving the White House. Many requests across the United States are...
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