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Oil volatile after a week of mixed messages, US inflation bad news for gold
Oil prices are recovering slightly after a volatile week amid conflicting commentary from key members of the OPEC+ alliance. From a “watch out” warning from the Saudi Energy Minister to a suggestion that the group will not cut output next weekend, traders have been left a little confused as to what we can expect. It may be that Saudi Arabia wants to keep traders on their toes but to make these comments and not follow through could be perceived as weak and see prices drift lower again. Unilateral action may not pack the same punch as a group cut, although you wouldn’t put it past them. Gold hit by stronger US ... (full story)
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- Posted: May 26, 2023 1:35pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 111
