• Price Change UP Icon Gold $2,191.00 +15.00
  • Price Change UP Icon Silver $24.60 +0.21
  • Price Change DOWN Icon Platinum $904.00 -4.00
  • Price Change UP Icon Palladium $1,006.00 +0.00
Geopolitical Uncertainty
August 9, 2023

Is there inflation?

Financial Times, by Javier Blas in
Share On Social Media

“Oil prices on Friday rose above $66 a barrel, setting a fresh six-month high and heading for their biggest monthly gain in more than 10 years, following Opec’s upbeat comments about oil demand in Asia at its meeting this week.

Abdalla El-Badri, Opec’s secretary general, said prices could rise to $70-$75 a barrel by the end of the year. ‘The outlook is improving,’ Mr El-Badri said over breakfast. But added: ‘The fundamentals are still weak.’

Mr El-Badri was explaining Opec’s decision on Thursday to keep its production unchanged, betting that the strengthening of the global economy will push prices.

On Friday, Nymex July West Texas Intermediate, the US benchmark, rose to a high of $66.36, up 29.8 per cent this month and on-course for its best monthly performance since March 1999, when it gained 36.5 per cent.

US crude has risen 48.8 per cent so far this year.”

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

Get Your Free Report
A Rising Storm
All form fields are required *
Thank You

Want your kit sooner?

Faster delivery
is available by phone.

800-444-8317

Download Your Report

Enter your phone number to be connected to a Monex Account Representative.

Thank You
Want your kit sooner?

Faster delivery is

available by phone.

800-444-8317
All form fields are required *
Embed Spot Prices!
Copy and Paste below code into your HEAD tag / before end tag of body to embed chart.
Copy and paste code below wherever you want your chart displayed.
Copied to clipboard
Embed This Chart!
Copy and Paste below code into your HEAD tag / before end tag of body to embed chart.
Copy and paste code below wherever you want your chart displayed.
Copied to clipboard
FREE REPORT OFFER
A Rising Storm
Thank You
Please check your email for a confirmation link and Free Report!
I agree to receive news and promotional material from this website and understand I can cancel at any time. Privacy Policy