Libyan military opposition has stopped oil exports at 800,000 barrels per day

Libyan commander Khalifa Haftar has blocked oil exports from ports under his control. Exports are 800,000 barrels per day, currently suspended. The move was launched to show strength ahead of a conference in Berlin with the Tripoli government organized by Angela Merkel. At this point, the commander refuses to stop his offensive and agree to […]

Positive trade sentiment gives a boost to the price of oil

The WTI pushed off a key zone, and after recording a new low for the day, the price rebounded by nearly $ 1.10, leaving it in positive territory. BRENT remains within the range of about $ 1. With the sentiment of the already dwindling trade war (for now) improving, China has announced it will start […]

The automobile sector is heading for a new favorite – rhodium

The impressive start of palladium at the beginning of the year begins to fade in front of the less well-known but much more expensive related metal, rhodium. Rhodium, also a major use in car catalytic converters, is now up to five times more expensive than gold. This month, metal is up 31%, peaking in 2008. […]

Gold is becoming the best hedge against geopolitical risks

Gold rose to levels last seen in 2013 with tensions rising in the Middle East. This has boosted demand for safe heaven assets, with Goldman Sachs saying gold still has room to rise. Palladium also reached new peaks. Gold is approaching $ 1,600 an ounce, and the gold rally has intensified after Tehran said they […]

Oil surges again as Iran, Trump trade threats

Oil prices rose a further 2% , pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after the killing of a top Iranian general. Brent crude futures  soared to a high of $70.74 a barrel and was at $70.25  up $1.65, or 2.4%. […]

UBS expects gold to reach $ 1600 in 2020

UBS predicts gold will rise to $ 1,600 an ounce in 2020. They comment that it continues to trade between 50 and 200 period averages, with the range still up to date. Gold is awaiting the onset of a catalyst to set the next direction. One such factor that will drive the price is the […]

A story about aluminum and the stagnant global economy

They call it “the aluminum smelter at the end of the world”. Located in the southernmost point of New Zealand on Tiwai Point Island, the plant produces 340,000 tonnes per year of low carbon aluminum and employs about 1,000 people. But his future is in doubt. Owner Rio Tinto said last month it could close […]

Hedge funds are starting to buy oil

Hedge funds have raised their oil gauge as their mood has become more optimistic about the prospect of a price hike and the possibility of a US-China deal. This also raises hopes that the global economy will nevertheless avoid a recession in 2019/20. From a fundamental point of view, hedge funds are starting to build […]

Four key drivers behind gold

UOB Price Estimates: At the end of the year – $ 1,550 Q1 for 2020 – $ 1600 Q2 and Q3 of 2020 – 1650 The four factors: The Federal Reserve is expected to continue cutting interest rates Bond yields are expected to continue to fall Asian and EM banks continue to increase their gold […]