Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors
A stronger dollar has also added to headwinds for commodities
US inflation accelerated to a fresh 40-year high last month, raising the likelihood of more aggressive interest-rate hikes from the Federal Reserve
The contracts will be cash settled and will have a smaller contract size of 100 barrels making them accessible
US crude output will grow at a slower pace than previously expected
OPEC+ meets on March 2 to decide on output for April
Oil has rallied on improving demand and supply outages, putting $100 a barrel within reach
October’s launch of two Bitcoin futures ETFs marked a major milestone for the industry
US crude inventories expanded by 2.35 million barrels last week
The exchange plans to launch single stock futures and index futures in the fourth quarter of 2021
Oil’s red-hot rally over the first half of the year has been interrupted by delta
Futures in New York dropped back below $69 a barrel on Tuesday after closing 0.6 per cent lower in the previous session
Oil has managed to break out from a tight range near $60 a barrel and resume its upward momentum
The official selling price for Murban is determined based on futures trading on the ICE Future Abu Dhabi exchange
Futures in London rose 0.9 per cent after capping a third weekly gain
Murban crude, pumped from onshore fields, comprises more than half of the country’s output
Prices jumped 10 per cent last week after Saudi Arabia indicated it would defend the market
Oil prices will probably continue to rise as excess inventories are used up