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Posts Tagged ‘news’

Oil Prices Surge on IEA’s Revised Market Tightness Forecast

IEA Predicts 2024 Improved Oil Prospects The International Energy Agency (IEA) has revised its full-year outlook for oil demand growth, attributing it to Houthi attacks in the Red Sea and an improved U.S. outlook. Despite the upward adjustment by 110,000 barrels per day (bpd), reaching 1.3 million bpd, it still lags behind OPEC’s forecast.  The ...

Silver Reaches a Multi-week High While The Gold Price Falls Further

In recent market events, the latest US Producer Price Index (PPI) data, a measure of wholesale inflation, reported values that exceeded market expectations and the previous month’s findings. Despite this, the US currency and projections for US interest rate reduction have remained relatively stable. Furthermore, US retail sales rose in February, signaling a turn toward ...