The financial world shifted on its axis this Friday as President Donald Trump officially nominated Kevin Warsh to succeed Jerome Powell as Chair of the Federal Reserve. This appointment is far from a mere administrative baton-pass; it represents a fundamental pivot in the world’s most powerful economic engine. Warsh, a former Fed governor and Wall
Gold prices breached $5,000 per ounce for the first time on Monday, and subsequently moved above $5,100 as well. Meanwhile, there is no stopping silver’s rally as prices surged past $100 per ounce and hit a record high of $112.330 per ounce. On the other hand, oil prices dipped on Monday after strong gains in
Geopolitical risk has sent gold soaring past $5,000 an ounce on investor uncertainty, even as energy markets remain firmly tied to tangible supply-demand constraints, according to a new Rystad Energy update. “The message for commodity markets heading into the week is clear. Geopolitical rhetoric remains loud, but pricing continues to respond primarily to tangible constraints
Oil prices jumped on Tuesday as a massive storm hit crude production and operations at refineries in the US Gulf Coast. Meanwhile, gold prices fell, but remained near their recent record highs above the $5,100 per ounce level. Silver prices on COMEX also fell sharply after hitting a record high of $113.438 per ounce earlier
Crude oil price edged higher on Wednesday as weather disruptions and a weaker US dollar bolster the asset. At the time of writing, Brent oil was trading at $66.62 as the bulls gather enough momentum to break the resistance at $66.77. At the same time, the benchmark of US crude oil prices, WTI, rallied to
Maersk, a major container shipping company, announced that severe weather, specifically heavy storms and snowfall, is causing significant disruption to its cargo operations across a large area of Europe. The impact is being felt across south-west and western Europe, affecting the seamless flow of goods, according to a Reuters report. Furthermore, the adverse weather conditions
It is one record after another for gold. The yellow metal cleared the $5,200 as well as the $5,300 marks on Wednesday for the first time in history as the rally continued. Silver prices on COMEX also kept up the charge as the metal breached $116 for the first time ever. Additionally, oil prices also
Oil prices extended their gains on Thursday on the back of simmering geopolitical tensions and concerns about the loss of supply. Concerns about a possible US military strike on Iran, OPEC’s fourth-largest producer with an output of 3.2 million barrels per day, caused Brent oil futures prices to surge on Thursday, reaching a four-month high
When they address analysts on Friday, executives from Exxon Mobil and Chevron will likely face a host of questions about Venezuela. This change in emphasis comes after the US apprehended and overthrew Venezuelan President Nicolas Maduro earlier this month, a significant geopolitical event that made it possible, though challenging, for large US oil companies to
Shell and BP are actively pursuing US licenses to begin extracting natural gas from shared fields in Trinidad and Tobago and Venezuela, the Caribbean country’s energy minister Roodal Moonilal announced on Wednesday, according to a Reuters report. As Latin America’s top exporter of liquefied natural gas and a major global supplier of ammonia and methanol,