Welcome to the Commodity Market tracker, we constantly support traders to analyze the rise and fall of the market for ten categories on the daily basis. We analyze and display the beginning value of the market on the morning updates and the Ending value on the evening updates. We examine the everyday trends for these categories and flash them as push notifications in our mobile applications and our success rate is above 80 percent. Play Store
Due to yesterday’s higher dollar, better-than-expected US job data, and inconsistent trade data from China, the country’s top metals consumer, aluminium slid 2.5% to 235.6. The US economy produced significantly more jobs last month than anticipated, according to data, which raised the dollar and suggested that the Federal Reserve would postpone starting its easing cycle…
Energy services provider Baker Hughes (BKR.O), opening a new tab stated in its widely watched report on Friday that U.S. energy companies reduced the number of oil and natural gas rigs operating this week to the lowest since January 2022. In the week ending June 7, the number of oil and gas rigs declined by…
Aluminum prices increased by 1.07% to reach 241.65 as a result of increased confidence over prospective rate cuts by central banks and their expected benefits for economic expansion. Gains were restrained, nevertheless, by worries about the market’s weak demand. An important intermediate component in the manufacturing of aluminum, alumina, has become scarce as a result…
Traders mostly disregarded the EIA report revealing an unexpected increase in crude oil stockpiles, as crude oil prices increased by 0.37% to settle at $6,190. According to EIA statistics, rather than the market’s estimate of a 2.30 million barrel reduction, U.S. oil stockpiles grew by 1.233 million barrels for the week ending May 31, 2024….
The biggest user of copper, China, had poor demand, which contributed to the substantial decline in copper prices, which ended at 863.5, down -1.89%. A recovery in the dollar from its mid-March lows was prompted by soft U.S. economic data, which increased hopes for an early rate drop by the Federal Reserve. Adding insult to…
Natural gas prices surged by 4.65% yesterday to end at 225.2, on the back of increasing gas flows to liquefied natural gas (LNG) export plants and projections of higher demand for the next week. Notwithstanding, indications of heightened drilling activity, lower-than-anticipated demand this week, and apprehensions regarding the substantial excess gas in storage limited the…
An unexpected rise in gasoline stocks in the United States caused crude oil prices to drop by 0.54%, ultimately finishing at 6,453. Instead of the 400,000 barrel drop that was expected, petrol stockpiles increased by 2 million barrels, indicating higher demand before the Memorial Day weekend. Expectations for interest rate decreases were tempered by the…
Natural gas had a notable decrease of -2.73% yesterday, closing at 217, due to signs of increased driller extraction and worries about the large excess supply still in storage. Prices dropped in the face of a larger-than-expected build in storage, despite projections for higher demand in the next week and increased flow to liquefied natural…
Gold prices fell for the second consecutive session on Thursday due to a rise in the U.S. dollar and Treasury yields ahead of key inflation data. This data could impact the Federal Reserve’s interest rate plan, leading investors to brace for potential surprises that may require the Fed to adjust its monetary policy outlook. Spot…
Yesterday, crude oil prices fell by -0.2% to settle at 6624 after the International Energy Agency (IEA) revealed a notable rise in global oil stocks for March. The increase in oil retained aboard tankers in transit is mostly responsible for the 34.6 million barrel increase reported by the IEA in February. With the unloading of…
