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