Commodities And Cryptos: Oil Market Getting Tighter, Gold Battered As Yields Rally – Investing.com

Commodities And Cryptos: Oil Market Getting Tighter, Gold Battered As Yields Rally – Investing.com

A tight oil market just got hit with supply disruptions and geopolitical risks, which means oil prices are headed higher. were boosted after growing unrest in Kazakhstan posed a risk to their 1.6 million barrels per day of production. Insurgents were responsible for sending Libyan production to the lowest levels in more than a year at the beginning of the year. 

Energy traders are growing very confident this market will remain very tight, and now that Omicron worries have eased, oil prices could have an easy path towards the highs seen in November. 

traders knew it was going to be a bloodbath after real yields had a major breakout. The hawkish Fed minutes triggered massive selling pressure for gold, and that should be over until the report. If the December payroll report delivers a massive beat, the pain could continue for gold.