MKS PAMP Group analysts suppose that palladium will be within the $1500-2500 range with a 50% chance.

The rise in price for WTI oil could be more than 1% for the week, as it has already gained more than $81 per barrel.

Analysts at MKS PAMP Group, a Swiss precious metals trading company, assessed the platinum outlook for 2023. A rise in platinum prices above $1,350 per ounce is 30% probable.

Strategists at MKS PAMP Group estimate there’s a 50% possibility of the gold price moving sideways within a range of $1,600-$2,100. Besides that, they suggest that a chance for growth to the level of $2,300 is 30%, while they also note there is a 20% likelihood of a decline to $1,400.

The probability of flat movement within the range of $18-28 is estimated at 50%, the probability of growth up to $30 is 35%, the probability of decrease down to $12 is 15%. The average price for the year is estimated at $22.5.

Tasmin Agency, referring to the OPEC report states that the production of black gold in Iran has risen to 2.5 million bpd in 2022.

On Wednesday, the U.S. Energy Information Administration (EIA) reported that prolonged growth in U.S. natural gas production will outpace domestic demand and exports this couple of years. As a result, the average U.S. benchmark price will be lower than in 2022.

The world's largest oil company Aramco predicts an increase in demand for black gold this year. This expectation is driven by the opening of the borders of China.

U.S. energy head Jennifer Granholm states that the limitation of presidential authorities to utilize the Strategic Petroleum Reserve (SPR) will threaten national security and will provoke the price growth and deficit of oil.

Senior analyst at consulting firm FGE Francisco Gonçalves stated that Venezuela’s oil production gains will be quite limited if sanctions against the country are not eased.