Oil price

14 Jan

Gold, Cocoa Prices To Surge In 2025, But Crude Oil To Tumble – Report

CUD WontumiBusinesscocoa price, Oil price

Gold and cocoa prices are expected to perform strongly in 2025, while that of Brent crude will tumble. This would driven by geopolitical tensions, potential US Fed interest rate cuts, and supply shortfalls. According to Databank Research, gold prices may reach US$2,600-US$3,100, while cocoa prices could rise between US$7,000 and US$9,600. “We expect gold prices to trade higher in 2025, ranging from US$2600-US$3100 on the prolonged effect of geopolitical tension. We are optimistic about a recovery in gold prices throughout 2025 as geopolitical uncertainties are likely to drive safe-haven demand. Additionally, we foresee further interest rate cuts by the US…

18 Oct

Oil Prices Steady As US Inventories Fall Above Expectations

wontumionlineBusinessOil price, US inventories

Oil prices stablised after losing about 6% in the global commodity market this week due to uncertainties that clouded the supply and demand of crude complex. Brent crude and WTI are both flat at $74.45 and $70.70 a barrel, respectively, after settling higher in the previous session following an unexpected weekly draw in U.S. crude stocks. Crude oil prices ended higher for the first time in four sessions yesterday, as US oil inventories fell more than anticipated while Middle East tensions linger. US commercial crude oil inventories fell by 2.2 million barrels over the last week, in contrast to the…