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Morgan Stanley: Brent oil price will reach $100 per barrel in mid-2023

Morgan Stanley's Global Commodity Strategist Martijn Rats shared his opinion on what would possibly become major factors of uncertainty for the world’s market of oil this year.

11 January 2023
Turnover in silver in Moscow Exchange doubled in 2022

Turnover in gold in the Moscow Exchange fell 33.4% from 2021 to 32.3 tonnes at the end of 2022. Turnover in silver grew 95.8% up to 78.7 tonnes.

10 January 2023
Gold makes strong start to 2023

According to a weekly report by Ole Hansen, head of commodity strategy at Saxo Bank, gold initially had a strong start to 2023. However, last Thursday's U.S. labour market report caused a temporal collapse in gold prices.

10 January 2023
New Pacific Metals invests in Silver Sand project

New Pacific Metals published the results of the Silver Sand project PEA. The project will be realized in Potosi Department, Bolivia.

10 January 2023
Hedge funds halted purchases of oil contracts

Shortly before the new year started, the oil price growth stalled due to growing cautiousness of investors after two weeks of active oil contracts buying.

10 January 2023
Saxo Bank: short-term resistance for WTI is at $75.65, for Brent at $81.15

The first week of 2023 was pretty difficult for crude oil futures. This result was driven by very mild winter weather conditions in the Northern Hemisphere.

10 January 2023
The number of drilling rigs in the world increased during 2022

According to the oilfield services company Baker Hughes, which is located in the U.S., the number of active oil and gas drilling rigs around the world have risen for the second year in a row.

10 January 2023
U.S. gasoline demand rises along with prices

According to GasBuddy data, average gasoline prices in the U.S. have risen for the second consecutive week. The price has increased by 8.2 cents compared to the previous week and currently is $3.25 per gallon.

10 January 2023
China's generous quota for crude imports boosted oil demand

China has significantly increased quotas for crude imports for 2023. The country seems set for an increase in Chinese refineries output and in oil demand after it abandoned its zero-Covid strategy.

10 January 2023
Venezuela oil exports fall despite Iranian aid

Venezuelan oil exports last year shrunk due to infrastructural disruptions. In addition, the U.S. sanctions and increased rivalry in the Asian market also adversely affected it.

10 January 2023