Extreme weather hit North Asia. The average temperature in China dropped to an unprecedented low, meanwhile Japan is getting ready for blizzards to come.

On Monday, the latest data from AAA showed that an increase in gasoline prices has been observed for the fourth week in a row. They are up 32.7 cents in the last month, driven by higher crude oil prices.

President of the European Central Bank (ECB) Christine Lagarde said that the bank is ready to take all needed actions to bring inflation down to its target level.

Gas supplies from Norway are expected to fall to their lowest level in more than 2 months. The drop in temperature has stimulated demand. Gas reserves in Europe are falling.

According to the forecast of AG Thorson, an expert in the field of technical analysis of precious metals markets, the price of gold in 2023 will exceed the level of 2000 dollars. Thus, a new peak is expected this year.

According to the estimates of the German Ministry of Economics, it is going to take a long time for the country to completely switch to LNG and abandon pipeline gas from the Russian Federation.

The perspective of fuel demand in the U.K. is falling due to increased sales of electric cars.

Hedge funds continue investing in gold for seven weeks in a row, according to the latest trading data from the Commodity Futures Trading Commission.

Trading on Tuesday began with a slight rise in prices for crude oil. The perspective of the whole global economy and the recovery of demand in China, as the largest importer of oil, is under attention, for the moment.

At the beginning of this week, U.S. gas prices have sharply increased by 9% from their 19-month low. The rise was driven by two factors. The first one is a request from Freeport LNG to restart its operation. The second one is the weather forecast of a more severe cold snap than expected.