Oil prices edged higher on Thursday (July 17th), driven by signs of easing trade tensions, stronger-than-expected economic data from the world's major oil consumers, and renewed risks in the Middle East. Brent crude futures rose 17 cents, or about 0.3%, to $68.67 a barrel at 08:56 GMT. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5%, to $66.69. "Oil sentiment has shifted away from the Middle East, and the reminder of Israel's incursion into Syria and drone attacks on oil infrastructure in Kurdistan is timely and once again adds a bit of tension to the proceedings," said...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.6% to $3,324.81 an ounce, as of 09:58 GMT. U.S. gold futures fell 0.9% to $3,330.40. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Oil prices rose on Thursday (July 17), even as global trade tensions appeared to ease. Analysts cited low inventories and emerging Middle East risks as factors supporting the market. Brent crude futures rose 31 cents, or about 0.5%, to $68.83 per barrel at 12:03 GMT. US West Texas Intermediate crude rose 61 cents, or 0.9%, to $66.99. US President Donald Trump said letters notifying smaller countries about their US tariffs would be sent soon, and also mentioned the prospect of a deal with Beijing on drugs and a possible agreement with the European Union. "Near-term prices are expected to...