Prices Of Brent Crude Oil And Silver Fall As The US Dollar Strengthening, Corn Prices Face Downward Price Pressure.

WTI Crude Oil: $80.00 Mark Is Emerging As The Next Target

Summary:

  • Brent crude oil prices are seeing some decline.
  • Silver prices face downward pressure amidst the US Dollar Strengthening.
  • Corn prices fall amidst worries about falling demand.

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Brent crude oil price falls.

The price of oil has fallen on Monday amidst concerns around the strengthening US Dollar which hit a two-decade high, making holding oil more expensive for other currencies. The lockdowns in China have raised concerns around the demand for oil from the world's biggest importer. In addition the world's biggest oil exporter, Saudi Arabia, lowered the prices of crude for Europe and Asia in June. All of these factors have resulted in the price of Brent Crude Oil falling.

Prices Of Brent Crude Oil And Silver Fall As The US Dollar Strengthening, Corn Prices Face Downward Price Pressure.  - 1

Brent Crude Oil Futures Price Chart


 

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As US yields increase, silver's value falls.

The price of silver has been falling over the past week. The price fall comes as the Fed continues with their hawkish attitude. Silver is used as a hedge against inflation, with the Fed increasing the US yields in an attempt to fight inflation, the opportunity cost for holding silver increases. Investors are selling their silver and turning to investments where they can yield a higher return at the same level of risk i.e. US treasury bonds.

Prices Of Brent Crude Oil And Silver Fall As The US Dollar Strengthening, Corn Prices Face Downward Price Pressure.  - 2

Silver Jul ‘22 Futures Price Chart

Corn prices facing downward price pressure.

On monday the price of Corn futures had fallen by almost 1%, there has been a downward price trend for corn futures over the past week. There are still concerns around the lack of supply for corn all over the world, however, with the lockdowns in China, concerns around falling demand have risen. Last week the amount of traders who shorted corn outweighed those who chose to go long, indicating they expected the price to drop.

Prices Of Brent Crude Oil And Silver Fall As The US Dollar Strengthening, Corn Prices Face Downward Price Pressure.  - 3

Corn Jul ‘22 Futures Price Chart


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Sources: Finance.yahoo.com, cnbc.com, reuters.com, barchart.com

WTI Crude Oil: $80.00 Mark Is Emerging As The Next Target

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.