|Day's Range||1,576.00 - 1,588.20|
Silver markets have shown significant support just below, as we have bounced from a major trend line. By doing so we ended up forming a bit of a hammer and that is a good sign.
Crude oil markets have had a positive week, something that we have not been able to say for a moment now. We are at the very lows of the overall consolidation, so if we can break above the top of the candlestick from this week, that could be a good sign.
Natural gas markets have gone back and forth during the trading session on Friday, showing signs of exhaustion in both directions, testing the $1.80 level over the last couple of days.
The British pound pulled back a bit against the US dollar heading into the weekend as a bit of profit-taking may have been in order. That being said, it’s worth noting that the 1.30 level has also offered a bit of support during the session.
The spot market for Middle East crude cargoes loading in April was virtually non-existent this week, as demand continues to be depressed due to the coronavirus outbreak
Look for volatility with the release of the midday weather updates.?The weekend is going to be full of surprises so there is a good chance we’ll see a gap opening at the start of next week.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterTullow Oil Plc said it received approval from Ghanaian authorities to flare gas when necessary to support its offshore fields.The permission will assist heavily indebted Tullow to support production at operations that failed to meet their initial output guidance for 2019, contributing to a terrible year that also saw delays at East African projects, disappointing drilling results in Guyana and the resignation of Chief Executive Office Paul McDade.Tullow will resort to flaring when it’s unable to ship gas ashore in order to “maintain the integrity of the Jubilee and TEN fields,” the company said in an emailed response to questions.Ghana’s agreement with Tullow entitles the West African nation to free deliveries of gas that the company extracts with crude from its fields. However, the country’s contractual obligations with other gas suppliers such as Eni SpA have rendered some of Tullow’s deliveries surplus to requirement.In the absence of a flaring agreement, Tullow has little choice but to inject the unwanted gas back into the reservoirs, a process which could compromise their stability and weigh on production, according to two people familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly.Tullow declined to elaborate further, while a spokesman for Ghana’s energy ministry didn’t answer calls or respond to text messages requesting comment.Output from new oil fields helped Ghana’s economy to expand at one of the fastest rates in Africa over the past three years. While the country also relies on gold and cocoa for exports, a potential shortfall in revenue from crude would weigh on a widening budget deficit and persistent tax shortfalls.To contact the reporters on this story: Ekow Dontoh in Accra at email@example.com;Paul Burkhardt in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: Andre Janse van Vuuren at email@example.com, James HerronFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.?2020 Bloomberg L.P.
Judy Shelton, President Trump’s nominee to the Federal Reserve Board, told lawmakers that digitizing the U.S. dollar could help maintain the currency’s ascendancy in global commerce.
B2C2, a London-based over-the-counter (OTC) market maker, is sharing its data and allowing transactions on the Los Angeles-based exchange aggregator SFOX.
Natural gas markets rallied slightly during the trading session on Thursday after initially pulling back, so at this point the market is trying to break above the gap, perhaps even grinding higher.
The Economist Intelligence Unit (EIU), which is well-respected for its economic outlook reports, recently published a report on the global forecast for growth in Q4 of 2019. The report said that economic activity across the globe, both for industrialized and developing countries, was projected to be weak. The report blamed the malaise on global trade tensions, such as the U.S-China trade war, as well as a fall in GDP growth in the U.S. and China, the world’s largest two economies.
The coronavirus continues to have a significant impact on oil prices. A report that the outbreak might be easing sent crude prices sharply higher on Wednesday. However, with no signs that the virus is under control, traders can expect crude prices to remain under pressure.