Other news

On Wednesday, U.S. natural gas futures rose by about 1% due to updated weather forecasts. It is now projecting lower temperatures in late January, and it’s expected to be colder than now.

Gold prices are fluctuating on Thursday due to the imminent release of official data. The updated statistics are expected to show inflation easing in the U.S.

The U.S. Energy Information Administration (EIA) changed the forecast concerning the spot average price for Brent. According to a new forecast, the price for this oil type will be lower than 10% in 2023.

According to Rystad Energy Vice President Emily McClain, U.S. natural gas demand may reach a record low. A potential fall in demand is driven by mild weather conditions observed in the country.

Shale drilling in the United States is now being expanded by publicly traded companies such as Occidental Petroleum Corp. and EOG Resources Inc. The mentioned oil producers started to crowd out private entities.

The U.S. Federal Reserve (Fed) is expected to slow down raising interest rates amid a decline in inflation. Regarding this, gold begins to rise in price, becoming more and more appealing for investors.

Ace investor Peter Grandich supposes that soon, the majority of markets will weaken. However, some assets are underestimated. These are gold and silver.

In anticipation of new data on U.S. inflation, oil is stabilizing after five successive days of growth. There’s also an increase in crude oil purchases registered in China on the eve of the Lunar New Year holidays.

MKS PAMP has posted a price forecast for platinum, silver, gold and palladium. The annual report includes possible average prices as well as minimal and maximal levels for the precious metals.

Minister of Energy of the Republic of Kazakhstan Bolat Akchulakov said that the first January oil shipment plan from Kazakhstan to Germany via the Druzhba pipeline may include sending 20,000 tons. Overall, Kazakhstan may deliver 1.5 million tons of crude in 2023.