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1025 days ago

Hedge funds boost net-long positions in US + crude to highest level in three years

West Texas Intermediate cruse rose 0.5% to $71.25 per barrel as gold fall 1% and 10-year treasuries advance half a bps.

#Commodities

1028 days ago

Accelerating oil demand will shrink global glut according to OPEC

Remember last year when there was so much oil we didn't know what to do with it? Some suggested a great way to cash in was to fill up your swimming pool with oil (a sort of store of oil for later). Today, OPEC believes demand for oil will start tapping into this surplus supply. Rising consumption of transportation fuels like gasoline mean oil demand will increase to 99 million barrels a day in the second half of 2021, a 5% increase on its level in the first six months of the year.

#Commodities

1028 days ago

Global oil demand is expected to surge next year, above pre-Covid levels

Oil demand is expected to surge above the 100 million barrels per day, according to the IEA on its 2022 forecast, which urges Arabia and Russia to pump more oil. As stated on their report "OPEC+ needs to open the taps to keep the world oil markets adequately supplied."

#Commodities
Global oil demand is expected to surge next year, above pre-Covid levels

1028 days ago

Beer might get more expensive because of rising aluminum prices

Buyers in Japan agreed to pay a premium of $185 per ton above London's benchmark for the coming quarter. This is the highest prices have been in six years. Sellers are winners, as buyers have to accept the higher premium to secure enough supply, because otherwise ingot would be diverted to other countries. Prices have risen amid a commodities boom. Another reason was high levels of overseas spot premiums.

#Commodities

1029 days ago

Have you ever seen a gold ATM?

You read us right. Eleven years ago, Abu Dhabi's Emirates Palace Hotel had installed the world's first physical gold ATM. And today, the very first gold bullion ATM was installed in the center of Prague. The machine offers 3 options: a 1-gram gold bar, a 10-gram Argor Heraeus gold bar and a 1-troy ounce gold bar. The company accepts only cash, and anonymous purchases are allowed only up to EUR 10,000. 

#Commodities
Have you ever seen a gold ATM?
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