Commodity Roundup: Gold soars above $2,000/oz, oil extends slide as OPEC+ delay meeting

Gold soars above $2,000/oz, oil extends slide as opec+ delay meeting of opec+ on nov. 30. Gold prices advance to six-month high as expectations of end of rate-hiking cycle push dollar index lower. Brent oil prices fall below $80 a barrel as investors look ahead to opec+ meeting.

Zero-day options rush: Nasdaq adds contracts tracking commodity, Treasury ETFs

Nasdaq adds contracts tracking commodity, treasury etfs to zero-day options trade. Options contracts tracking oil, natural gas, gold, silver, and long-term treasuries expire on wednesdays. Zero-days-to-expiration strategy involves trading options contracts on the day they expire.

Israeli PM Netanyahu To Meet Elon Musk On Monday, Discuss Security Aspects Of AI And Hold Live Online Discussion; Israel, Musk Reached An Agreement In Principle To Allow Starlink Communications In The Gaza Strip

Weekly Report: what happened at USO last week (1120-1124)?

What Will OPEC+ Do?

Oil price volatility will be heightened until opec+ decision time. Fundamentally the oil market doesn't require an additional cut, but we think opec+ will announce an additional coordinated cut. The oil market healing process is underway, so it will take time. Last week, oil prices surged on rumors of deeper production cuts.

USO: Crude Oil Could Fall To The Mid-50s

Price of crude oil is near its' long-term support right at $70/barrel. The price of oil is likely to continue falling for another 8-9% before falling to the mid-50s. The geopolitical premium for crude oil price is deflating. Opec+ supply cuts are unsustainable given the recession in saudi arabia. Demand is expected to fall as the global economy enters recession in 2024.

Low-Carbon Transition Investing 101

Low-carbon transition investing 101: the transition to a low-carbon economy is rewiring economies, sectors and businesses. Helen lees-jones, emea head of the sustainable & transition solutions group at blackrock explains why investors are investing in the transition.

Crude Oil Prices Fall As OPEC+ Meeting Postponed Over Angola And Nigeria Spat

Opec+ was reported to be close to a deal to bring more oil onto the market from african producers. African producers angola and nigeria were unhappy with their quotas. Brent crude was down 1.3% in mid-afternoon trade, and us west texas intermediate fell 2.4%.

Stocks Notch 4th Week Of Gains - Tech Falters As Yields Rise; Gold Steady At $2,000: Friday's Market Recap

U.s. Stocks mark fourth consecutive week of gains, the longest winning streak since june. Small-cap stocks outperformed, while tech stocks lagged behind as treasury yields surged on better-than-expected services pmi data. Healthcare stocks led gains among equity sectors, followed by energy and materials.

Qatar Foreign Ministry Confirms Release Of 39 Women And Children Detained In Israeli Jails

"OPEC+ Closes In On Deal To Resolve African Oil Quota Dispute; Dispute Forced Group To Postpone Key Meeting To Nov. 30; Agreement Back In June Left African Nations With Lower Quotas" - Bloomberg News

Opec+ is close to resolving a dispute over output quotas. The group is reviewing the demands made on african members by an earlier deal. Deadlock forced opec+ to postpone a pivotal meeting in vienna this weekend. Group is working to tweak the 2024 targets set for angola and nigeria.

Energy Sector Update for 11/24/2023: ESGL, BP, XLE, USO, UNG

Commodity Roundup: Precious metals in green; Brent set to snap four weeks of decline

Precious metals in green; brent crude set to snap four weeks of decline; gold up 0.7% for the week. U.s. Crude oil prices and natural gas futures lower; soybean, wheat and cocoa all trade in red. Copper prices steady in london, heading for a second consecutive weekly gain. Expectations that the federal reserve is done raising interest rates boost base metals.

IEA: Big Oil's carbon capture strategy alone won't solve climate change

Iea says oil and gas producers need to scale up investments in clean energy to reach net zero carbon emissions by 2050. International energy agency says carbon capture strategy alone won't solve climate change. Oil and gas companies currently account for just 1% of clean energy investment globally, iea says.

OPEC+ Disagreements Drag Oil Prices Down

Copper/Gold Ratio: Still Counter-Cyclical

Copper/gold ratio has been indicating a counter-cyclical environment since june 2022. Copper is cyclical and inflation sensitive, while gold is counter- cyclical. The chart suggests a potential deflationary liquidity crisis in the future, despite the current goldilocks recovery.

S&P 500 Flirts With Key Resistance, VIX Drops, NVIDIA In Focus: What's Driving Markets Wednesday?

The s&p 500 index reached 4,560 points in midday trading. The index is testing the downward trendline that connects the highs of 2022 and 2023. All-time highs are less than 6% away from the current levels. The cboe volatility index has dropped below the 13 mark.

Oil Prices Slide As OPEC+ Postpones Output Meeting, Delays Decision On Supply Adjustments

Opec+ producers decided to delay their 187th meeting on output. The meeting was originally scheduled for the weekend of nov. 25-26. Crude oil futures are down 2.5% and the uso oil-tracking etf is also down. No reason was cited for the delay.

G20 Meeting: India PM Modi Says G20 Countries Agree That Two State Solution Necessary For Stability In Western Asia

Crude inventory increased by 8.7M barrels for week ended Nov. 17 - EIA

Crude inventory increased by 8.7m barrels for week ended nov. 17. Commercial crude stocks increased by 448.1m barrels. Gasoline and distillates inventories increased by 0.7 million barrels. Eia released its weekly petroleum storage report on wednesday.