Oil prices rose on Tuesday amid market concerns over adverse weather conditions in the U.S. This may have a negative impact on the supply chain, as well as on the production of petroleum products and shale oil.
The experience of the Great Recession can be useful now, as there is a need to actively accumulate silver during the crisis period to receive a high income in its realization after the end of the recession.
Gold becomes expensive, and now its price reaches $1800 per ounce. Such a situation has developed due to the removal of anti-COVID restrictions in China.
Chief investment officer of Swiss Asia Capital Juerg Kiener forecasts the rise in gold prices to $4,000 per ounce in the following year. Such a surge is expected due to continued market volatility.
Japan's main oil and gas corporation, Inpex Corp., has signed a deal to purchase 1 million tons per year from Venture Global LNG's CP2 project in Louisiana for 20 years. Construction of CP2 is scheduled to begin in the coming year.
Dmitry Medvedev, deputy chairman of the Security Council of Russia, voiced his new forecast for oil and gas prices in 2023. According to a recent post published on his Telegram channel on Monday, oil prices might rise to a level of $150 per barrel.
Algerian Minister of Energy and Extractive Industries Mohammed Arkab will be responsible for increasing the level of gas production. That was issued by President A. Tebboune in order to maintain the average national level of consumption.
Gold prices jumped ahead of Christmas. Data released on Friday showed that US inflation cooled in November. However, the Federal Reserve may not consider it as a strong argument to slow the pace of interest rate hikes.
It is likely that gold will manage to outperform most asset classes in the upcoming year. However, some specialists believe that the precious metal will not show any rapid increase at least until the second half of the year.
U.S. consumers expect price pressures to ease significantly next year. However, Friday's benchmark study showed that the U.S. annual inflation forecast fell to its lowest level in a year and a half in December.
