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Oil prices extended losses into a second straight session on Tuesday on a technical correction after last week's rally, while expectations of abundant supplies and a strong dollar also weighed. Brent crude futures were down 28 cents, or 0.37%, at $76.02 a barrel by 0148 GMT, while U.S. West Texas Intermediate (WTI) crude was down 33 cents, or 0.45%, at $73.23. Both benchmarks rose for five straight days last week and ended at their highest levels since October on Friday, partly on expectations of more fiscal stimulus to revitalize China's faltering economy.(AL) Source: Investing.Com
Oil prices edged lower in Asian trade on Tuesday, extending losses from the previous session as weak U.S. and European economic data raised some questions about the demand outlook. But prices remained near three-month highs, boosted by bets that cold weather in the U.S. and Europe will help boost near-term demand. Hopes for more stimulus measures in top oil importer China also continued to factor into prices, with focus shifting to upcoming inflation data from the country this week. Brent crude for March delivery fell 0.3% to $76.08 a barrel, while West Texas Intermediate crude fell 0.4%...
The EUR/USD pair weakened near 1.0380 on Tuesday (1/7) during Asian trading hours. The greenback moved higher after President-elect Donald Trump said that his tariff policies will not be reduced. Traders are gearing up for the preliminary Eurozone Harmonized Consumer Price Index (HICP) and the US ISM Services Purchasing Managers' Index (PMI) for December, due on Tuesday. Trump denied a Washington Post report that his aides were considering narrowing his tariff plans to only apply to a limited number of essential imports. Traders will be closely monitoring developments surrounding Trump's...
Oil prices eased in volatile trade on Monday as some bearish economic news from the United States and Germany offset bullish support from a weaker U.S. dollar and forecasts for increased heating demand for energy from a winter storm. After rising for five days in a row, Brent futures fell 21 cents, or 0.3%, to settle at $76.30 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 40 cents, or 0.5%, to settle at $73.56. Despite those declines, both crude benchmarks remained in technically overbought territory for a third day in a row. On Friday, Brent settled at its highest level...
Gold prices fell on Monday as U.S. Treasury yields rose, while the Federal Reserve's recent hint at a slower pace of rate cuts in 2025 kept investors keenly awaiting a slew of economic data due this week to shed more light on that view. Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40. "Bond yields are back up again, placing pressure on gold," said Nitesh Shah, commodity strategist at WisdomTree. Yield on the 10-year U.S. Treasury Note rose to an over eight-month high, making non-yielding gold less attractive "We...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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