Benchmark U.S. crude oil for May delivery fell $1.70 to $79.16 a barrel Wednesday. Brent crude for June delivery fell $1.65 to $83.12 a barrel. Wholesale gasoline for May delivery fell 10 cents $2.65 a gallon. May heating oil fell 4 cents to $2.56 a gallon. May natural gas fell 15 cents to $2.22 per…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 19)
April 19, 2023
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ANALYSIS: What You’re Not Being Told About the Electric Vehicle Revolution
April 19, 2023
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Business & Marketsclimate change agendaCompanieseconomic policiesElectric carsenergyEPA - U.S. Environmental Protection AgencyESGEVsGold and CommoditiesMarkets
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While the Biden administration cannot force you to buy an electric car, it can, by capping tailpipe emissions and other coercive measures, compel producers to severely curtail the manufacturing of internal combustion engine (ICE) cars and drive up the cost of gasoline-powered cars. This will likely result in a fundamental restructuring of America’s automotive industry,…
Oil Slides as Interest Rate Expectations Eclipse Chinese Data
April 19, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices dropped sharply on Wednesday, sliding by 2 percent as potential U.S. interest rate hikes that could slow growth and curb oil consumption outweighed strong Chinese economic data and falling U.S. inventories. Brent crude futures shed $1.70 to $83.07 a barrel by 0929 GMT while West Texas Intermediate U.S. crude fell by $1.64 to…
Stocks Ease, Dollar Perks Up as Focus Returns to Fed and Inflation
April 19, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SINGAPORE—Global stocks eased on Wednesday, while the dollar pulled further above last week’s one-year lows, as investor focus honed in on what the Federal Reserve may have to do to tame inflation, rather than on the recent problems in the U.S. banking sector. The MSCI All-World index fell 0.2 percent, thanks to a broad-based decline…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 18)
April 18, 2023
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Benchmark U.S. crude oil for May delivery rose 3 cents to $80.86 a barrel Tuesday. Brent crude for June delivery rose 1 cents to $84.77 a barrel. Wholesale gasoline for May delivery fell 2 cents $2.75 a gallon. May heating oil fell 1 cent to $2.60 a gallon. May natural gas rose 9 cents to…
China’s Central Bank Increases Gold Holdings to Prepare for US Sanctions: Analysts
April 18, 2023
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Business & MarketsChinaChina Business & Economychina sanctionsDe-DollarizationGold and Commoditiesgold reservesMarketsUS-China relations
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For the past five months, China’s central bank has been increasing its gold reserves while simultaneously decreasing its holdings of U.S. bonds. Industry experts believe that this move is in anticipation of future sanctions that China may face. According to data recently released by China’s State Administration of Foreign Exchange and reported by financial news…
Oil Slips on Economy Worries, Despite China Growth Data
April 18, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil fell for a second day on Tuesday as upbeat Chinese economic data failed to deflect the focus from a possible increase to U.S. interest rates and wider concern about the growth outlook. Crude prices were also pressured by the Iraq federal government and Kurdistan Regional Government (KRG) taking a step towards a resumption in…
Stock Market Today: Shares Mixed Following China Growth Data
April 18, 2023
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TOKYO—Global shares were mixed Tuesday as pessimism over economic and political uncertainties remained even as China reported better-than-expected growth data. France’s CAC 40 added 0.3 percent in early trading to 7,517.90. Germany’s DAX rose nearly 0.1 percent to 15,804.68. Britain’s FTSE 100 added 0.2 percent to 7,897.45. U.S. shares were set to drift higher with…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 17)
April 17, 2023
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Benchmark U.S. crude oil for May delivery fell $1.69 to $80.83 a barrel Monday. Brent crude for June delivery fell $1.55 to $84.76 a barrel. Wholesale gasoline for May delivery fell 7 cents $2.77 a gallon. May heating oil fell 3 cents to $2.61 a gallon. May natural gas rose 17 cents to $2.28 per…
Why Is Silver So Cheap? Factors Affecting Silver Prices
If you’re interested in investing in precious metals, you’ve likely noticed that silver is cheaper than many other options like gold, platinum, and palladium. Precious metals investors have coined the term “poor man’s gold” for the white metal because of its low average cost compared to high gold prices. So, why is silver so cheap?…
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