Other news

After two weeks of growth, the cost of WTI oil fell to $81 per barrel. As a result, the prices came close to high since mid-November.

Australia’s ANZ Bank gives silver a positive outlook for 2023. The bank's analysts believe that silver might be a cheaper alternative to gold.

The first Federal Open Market Committee (FOMC) meeting in 2023 is set to conclude on February 1. Analysts predict that the regulator is likely to slow the pace of interest rate hikes. Thus, the rate could rise by 25 basis points.

The Energy Information Administration (EIA) reported that the crude inventories in the U.S. exceeded 8 billion barrels.

As it was stated by Federal Reserve Vice Chair Lael Brainard, there’s a possibility for the U.S. economy to have a “soft landing.”

On Thursday, European Central Bank President Christine Lagarde said that inflation across all indicators remains too high for now. Policymakers will not relent in their efforts to return price growth to target levels.

According to the Energy Information Administration’s (EIA’s) weekly report, the U.S. has stopped selling oil from the Strategic Petroleum Reserve (SPR). As of January 13, the SPR crude balance remained the same as a week earlier. It was 371.6 million barrels.

According to a recent report from Moody's Investors Service, aggregate upstream spending will gradually increase by about 10-15% in the coming year. Nevertheless, overall spending will remain below 2016-2019 levels.

The consumption of gas in the U.S. exceeded expectations. Nevertheless, this is not enough to increase prices from a 19-month low.

According to analysts at Bank of America, investors' portfolios will hold gold securities for the next 3 years.