Commodities: Venezuelan And Russian Oil Supply Risks Push Market Higher
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ING Economic and Financial Analysis4.96K FollowersFollow5ShareSavePlay(8min)CommentsSummaryOil prices rallied yesterday on growing supply risks facing the market. This strength has continued in early-morning trading today.European gas prices rallied yesterday, with TTF settling 2.22% higher on the day amid forecasts for colder than usual weather towards the end of the month.Gold is trading just shy of its all-time high above $4,381/oz, a level last seen in October, as tensions rise in Venezuela following Trump’s blockade order for all sanctioned tankers.Silver, meanwhile, hit another record high above $66.50/oz. Prices have now more than doubled year-to-date. MicroStockHub/iStock via Getty Images By Warren Patterson, Head of Commodities Strategy and Ewa Manthey, Commodities Strategist Oil prices rallied yesterday amid growing concerns over Russian and Venezuelan oil supply. Energy: Oil supply risks grow Oil prices rallied yesterday onThis article was written byING Economic and Financial Analysis4.96K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.