Other news

Canada provided 103 rigs over the past week, according to data from Baker Hughes.

Tuesday was marked by gas futures’ strengthening in the USA. The reason for that is a decrease in gas production due to unfavourable weather conditions. Thus, due to the effects of the winter storm, the forecast of warming and lower demand in December is not that relevant now.

The Japanese government creates conditions for importers to accumulate fuel reserves to avoid a deficit in the future.

U.S. oil refineries are likely to resume operations by January 2023.

Economists at Danske Bank said that Brent crude oil would settle lower the following year. Oil prices may slide to $80 in the fourth quarter.

Favorable weather conditions in Europe have contributed to lower gas prices. Dutch TTF Natural Gas Futures have been declining for a week in a row, while abnormal temperatures have been reported in EU cities.

This year, gold prices have been under a serious pressure due to the strengthening U.S. dollar and monetary policy tightening by the Fed. According to ING economists, gold will manage to recover in the upcoming year as the Fed’s policy easing begins.

American company Next Decade Corp, engaged in LNG production, announced an increase in the supply of fuel under the sale and purchase agreement. This agreement was entered into with ENN Natural Gas Co. Ltd from China.

Oil prices rallied due to the market optimism on fuel demand recovery. Thus, demand is likely to rebound as China continues to lift restrictions imposed during the COVID-19 pandemic.

The price of gold has increased, exceeding the $1,800 per ounce. This comes as China lifts more and more Covid restrictions, putting pressure on the U.S. dollar amid rising risk assets.