Gold (XAU/USD) rallied more than 2% on Monday (December 22nd), hitting a record high of $4,442 amid rising geopolitical tensions and expectations that the Federal Reserve (Fed) will continue to cut interest rates next year, pushing US Treasury yields lower. At the time of writing, XAU/USD was trading at $4,435, having rebounded from a daily low of $4,338. Gold prices surged more than 2% amid rising tensions in the Middle East and Venezuela, while markets expect a deeper Fed rate cut for 2026. Tensions in the Caribbean escalated after US President Donald Trump announced last week a...
Oil prices rose on Monday (December 22nd) after the U.S. Coast Guard attempted to intercept an oil tanker in international waters near Venezuela the day before, and Ukraine damaged two ships and a dock in Russia, raising the risk of oil supply disruptions. Brent crude rose $1.60, or 2.7%, to $62.07 a barrel, while U.S. West Texas Intermediate crude rose $1.49, or 2.6%, to $58.01 a barrel. The U.S. Coast Guard attempted to intercept an oil tanker on Sunday that U.S. officials said was part of an illegal Venezuelan sanctions-evasion operation, the third such operation this month. The pursuit...
Oil prices held on to four consecutive days of gains as the US continued its blockade of oil shipments from Venezuela. In this morning's trading, West Texas Intermediate (WTI) was trading around $58 per barrel, after rising about 5% in the last four sessions, while Brent closed near $62 per barrel. US President Donald Trump confirmed that the US would continue to withhold oil from seized vessels linked to Venezuela. The US has already seized two oil tankers and is pursuing a third, as part of further pressure on the government of Nicolás Maduro. Despite the ship seizures, more than a dozen...