Market News - Gold, Oil & Forex

Key insights from the week that was. Our latest Westpac-MI Consumer Sentiment Survey proves the tense backdrop of elevated inflation, restrictive interest rates and heightened economic and political uncertainty is weighing heavily on the consumer mood. The headline index fell 2.9% to 80.6 in May, leaving sentiment stuck near pandemic-era lows. Cost-of-living pressures are the […] The post Cliff Notes: Stuck in the Moment appeared first on ActionForex.

Over the past couple of years, the United States has established itself as the world's largest exporter of liquefied natural gas (LNG), with an operational liquefaction capacity of ~15.4 billion cubic feet per day (Bcf/d). It’s home to nine large-scale operating LNG export terminals and more than 170 smaller, localized LNG facilities across the country used for domestic storage and peak-demand supply. And while it has traditionally favored building massive onshore liquefaction plants to make...

The port of Rotterdam has seen, in recent years, increasingly sophisticated attempts by fraudsters to scam millions of dollars out of traders by paper fraud, offering non-existent oil storage at one of the world’s biggest oil hubs. The frauds, using fake documents and fraudulent websites, lure traders to pay for oil storage that simply doesn’t exist at the Port of Rotterdam. The scams have been running for about 15 years, the Port of Rotterdam Authority has estimated, and has created a special...

Iraq’s oil sector has been discussed over the last few years primarily through the lens of production figures, OPEC quotas and reserve estimates. The latter, however, is no longer sufficient or even appropriate, as today’s story is no longer only oil. The current focus should be on a struggle over sovereignty, state authority, regional geopolitics and economic survival. The coming months will prove decisive for the future of Iraq’s hydrocarbon sector. The government in Baghdad is currently...

Kazakhstan’s 12th hydrocarbon licensing round puts 30 suboil plots across roughly 53,000 sq km on offer, backed by more than 9 billion preliminary estimated hydrocarbon resource potential. With signature bonuses from USD 30,000 and minimum work commitments mostly sitting between USD 2 million and USD 3 million per block, the 29 July auction opens a wide range of entry points alongside bilateral partnerships already advancing with BP, Sinopec, Eni, Chevron and Shell. What’s on offer Kazakhstan’s...

(RTTNews) - Reversing yesterday's surge, crude oil prices have plunged on Thursday after U.S. President Donald Trump recalled his earlier orders to attack Iran hard.

OPEC is sticking to its view that the oil market will remain relatively tight through next year, with demand growth expected to continue outpacing non-OPEC+ supply additions despite months of war-related disruption and elevated prices. According to OPEC's June Monthly Oil Market Report released on Thursday, crude production from countries participating in the Declaration of Cooperation averaged 33.13 million barrels per day in May, down 190,000 bpd from April based on secondary-source...

Brits are racing to get their hands on electric vehicles after a surge in oil prices triggered by the war in Iran has driven away demand for petrol and diesel cars, one of the UK’s biggest used car supermarkets has said. London-listed Motorpoint, which has seen its shares jump on the back of bumper profits, said it had seen a more than doubling of sales for EVs in recent months in a “watershed moment” for the future of the car industry. Motorpoint chief executive Mark Carpenter told City AM:...

(RTTNews) - Extending the losses from yesterday's session, gold prices have edged down on Thursday as U.S. prepares to hit Iran hard, raising concerns of an expansive war in the Middle East for an extended period. Due to escalation concerns, the U.S. Dollar Index advanced close t

For nearly seven years, the largest IPO in history belonged to an oil company. Not just any oil company. Saudi Aramco, the crown jewel of the world's largest crude exporter, raised $29.4 billion in its 2019 market debut, cementing what many viewed as the ultimate victory lap for the petroleum age. That record appears set to fall today. SpaceX is expected to price what will likely become the largest IPO ever, raising roughly $75 billion and surpassing Aramco's long-standing mark. The offering...