Other news

On Wednesday, the U.S. dollar strengthened and gold prices fell a bit. The Federal Reserve System is expected to slow the pace of interest rate hikes.

OPEC says that the oil demand in China will recover due to the easing of anti-COVID restrictions. Also, the organization expressed optimistic expectations concerning the future of the world economy in 2023.

The price of WTI oil rose to $81 per barrel, and this is its highest level since early December.

On the agenda, on January 18, is IEA Monthly Report. On January 19, stocks of crude oil and petroleum products, data on natural gas reserves, as well as the production of gasoline and distillates are in the spotlight.

The gold market had a solid start to the year. Its significant potential was noted by European funds, as investors are getting more and more interested in the yellow metal.

Reuters’ market columnist John Kemp discovered the following data in the recent survey across industries: most respondents expected that in the period from 2023 to 2027, the average price of oil would be $90 per barrel.

There is an increase in diesel fuel imports to Europe ahead of the embargo on Russian oil. This restriction will come into effect on February 5. Until the date, traders actively fill up their oil product reserves from Russia.

Gold exceeded the level of $1,800 per ounce. After that, Jeffrey Gundlach, CEO of DoubleLine Capital, saw a good opportunity

The seaborne crude exports from RF rapidly increased last week. It has become the highest since April.

Large gas reserves in China have improved supply prospects. Suppliers are forced on LNG shipments to Europe.