Oil prices fell on Friday (January 2), the first trading day of 2026, after posting their biggest annual loss since 2020, as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuelan exports. Brent crude futures closed down 10 cents at $60.75 a barrel, while U.S. West Texas Intermediate crude fell 10 cents to $57.32. Russia and Ukraine accused each other of attacks on civilians on New Year's Day despite talks led by U.S. President Donald Trump aimed at ending the nearly four-year war. Kyiv has stepped up attacks on Russian energy...
Gold prices rose slightly on Tuesday (January 6) to a near one-week high, supported by safe-haven demand amid rising geopolitical tensions over the US arrest of Venezuelan President Nicolas Maduro and growing expectations of a US interest rate cut. Spot gold prices rose 0.1% to $4,452.60 an ounce, as of 0946 GMT, after rising nearly 3% in the previous session. Bullion hit a record high of $4,549.71 on December 26, ending the year with a 64% gain, its best annual performance since 1979. US gold futures for February delivery rose 0.3% to $4,462.60. "Gold prices were supported by rising...
Oil prices edged higher in recent trading, continuing their gains after posting their biggest daily gain in a week. However, market direction remains mixed as market participants weigh two competing narratives: resurgent geopolitical risks versus lingering concerns about a global supply surplus. In European markets, Brent held steady around US$62 per barrel after strengthening by around 1.7% in the previous session. Attention remains focused on developments in Venezuela following the fall of Nicolás Maduro, including planned talks between industry leaders and Washington regarding the future...