Crude oil prices fell on Monday, with downside pressure likely to continue this week. The Organization of Petroleum Exporting Countries and allied producer Russia, together with part of OPEC+, are expected to increase supply production. The oil cartel will meet later this week on Thursday when RBC Capital Markets expects an increase of anywhere from 500,000 to 1 million barrels of oil per day.

Photo by American Public Power Association on Unsplash

Gold prices are trading fairly muted so far this week. That is no surprise given the influences at work in the market for the yellow metal. Gold saw a big drop earlier this month when the US Dollar was sent soaring due to a hawkish shift in the Federal Reserve’s outlook. 

Natural gas prices have seen a surge of bullish energy in the past couple of weeks as a severe heatwave gripped a large portion of the Western United States. The soaring temperatures have sent energy demand soaring as consumers use air conditioning. 

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