In a groundbreaking move, the U.S. Department of Energy (DOE) has set its sights on revolutionizing the energy efficiency of water heaters, aiming to unlock substantial savings for American households. The proposed standards, which have not been updated in 13 years, promise to deliver unprecedented cost reductions, reflecting the administration’s
Introduction The price of Western Texas Intermediate (WTI), the benchmark for US crude oil, experienced a slight dip on Thursday, currently standing at approximately $75.40. This article delves into the factors influencing the downward movement and the significance of Sino-US relations in shaping the future trajectory of crude oil prices.
Gold, often considered a safe-haven asset, faced a significant setback in recent times as its prices dipped below the $1970 region. However, a glimmer of hope emerged on Wednesday as prices rebounded, hinting at a potential resurgence. In this article, we delve deeper into the factors influencing the market, including
Introduction: In a notable development for the Crude Oil Futures Market, open interest has seen a decline for the second consecutive session, shedding approximately 59.3K contracts on Wednesday. The drop in open interest was followed by a decrease in trading volume, which went down by around 52.3K contracts after experiencing
Silver Retreats from Recent Highs, But Maintains Bullish Momentum During the early European session, silver prices experienced a slight retreat from their highest level since May 11, touching around $25.25 on Thursday. Despite this pullback, the white metal showed resilience and managed to hold above the crucial psychological mark of
Natural Gas Prices Pull Back Amidst Market Conditions Natural gas prices experienced a modest retreat on Wednesday, as shrinking open interest and volume impacted the market sentiment. Investors are now closely monitoring the possibility of a continuation in the commodity’s rebound in the near term. Despite the pullback, support around
In a temporary pause from its recent upward trajectory, copper prices eased on Friday following two days of strong gains. Worries surrounding premature expectations for a halt to interest rate hikes and the absence of additional stimulus measures in China, the world’s largest consumer of metals, contributed to the slight
In a session marked by intriguing market movements, the XAG/USD (silver) showcases gains near the psychological resistance level of $25.00. Despite the recovery of US Treasury yields, the precious metal remains resilient while the US dollar managed to halt its downward spiral, ending its worst week in 2023. The XAG/USD
In a week of twists and turns, gold finished flat on Friday but managed to secure its biggest weekly gain since April. The precious metal’s performance was driven by a mix of economic data suggesting a potential easing of inflationary pressures in the United States. This prompted cautious optimism among
Introduction WTI crude oil prices experienced mild losses on Friday morning in Asia, trading near $71.80 per barrel. The market exhibited a cautious mood as investors eagerly awaited the release of the highly anticipated US employment data. This article examines the factors contributing to the current sluggishness in the energy
Introduction Gold prices have continued their corrective decline, with increasing open interest indicating the possibility of further losses in the short-term horizon. Investors and market analysts are closely monitoring the precious metal’s performance as it faces potential downward pressure. Notably, the immediate contention area lies at the June low of
Introduction The silver market is currently witnessing volatility, with the XAG/USD price displaying back-and-forth movements in the early London session. At around $22.70, the white metal is struggling to find a clear direction as investors eagerly await the release of the highly anticipated United States Nonfarm Payrolls (NFP) data. This