Gold (XAU/USD) ticks lower for the second consecutive day on Wednesday, but remains steady, halfway through the weekly trading range, trading a few pips below $4,700 at the time of writing.
According to a Reuters poll, the European Central Bank (ECB) will hike the deposit rate by 25 basis points (bps) to 2.25% in June, said 59 of 70 economists (vs 44 of 85 in April survey).
Japan's refinery utilization rates are rebounding in May as releases from petroleum reserves and increased supply of non-Middle East crude are easing the crude supply crunch seen in March and most of April. For the first time since March, refiners in Japan have boosted their average utilization rate
European Central Bank (ECB) policymaker Madis Muller said on Wednesday that a fast resolution in the Strait of hormuz is needed for the ECB to hold rates unchanged in June.
Forrestania Resources has acquired full ownership of Hyden Project Holdings, securing the Hyden Gold Project along with the Lady Magdalene and Lady Ada Projects located in Western Australia. The post Forrestania acquires Hyden Gold Project in Australia appeared first on Mining Technology.
Danske Research Team highlights that United States (US) Consumer Price Index (CPI) data showed strong core and services inflation, reinforcing concerns about persistent underlying price pressures. Shelter and super-core components rose, while core goods remained flat.
The Australian Dollar (AUD) trades higher against its major currency peers, flattening against the US Dollar (USD) around 0.7240, during the European trading session on Wednesday.
Rabobank’s Senior Macro Strategist Bas van Geffen notes that concerns over the Middle East and the closure of the Strait of Hormuz have pushed Oil prices higher, with Dated Brent moving above $111.
Dow Jones futures move little around 49,850 during the European hours on Wednesday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 advance 0.24% to near 7,440, and the Nasdaq 100 futures rise 0.71% toward 29,400.
European Union gas industry lobby groups are urging Brussels to relax gas storage refill targets amid the supply crunch prompted by the war in the Middle East. The EU has a refill target of 90% of storage capacity by November every year in a bid to secure sufficient supply for peak demand season in
According to the International Energy Agency (IEA), the world oil supply to fall by 3.9 million barrels per day (bpd) in 2026 assuming the oil flows from the Strait of Hormuz, a critical passage to almost 20% of global energy supply, will gradually resume from June (prev. forecast 1.5 million bpd fa