Oil tumbled nearly 4%, global shares surged and the dollar dropped on Tuesday as markets took heart from a ceasefire between Israel and Iran and shrugged off what U.S. President Donald Trump said were violations by both sides.
Brent futures had already slid 7% on Monday and U.S. shares jumped after Iran made only a token retaliation against a U.S. base to an attack over the weekend, and signalled it was done for now.
With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, the Brent benchmark touched its lowest since June 11 and was last at $68.81 a barrel, down 3.7%. U.S. crude futures dropped 3.7% to $65.91 a barrel.
"Investors mostly shrugged at what appeared on the surface a seismic geopolitical event over the weekend and those who kept their nerve and held off from de-risking have so far been proven right," said Kenneth Broux, head of corporate research FX and rates at Societe Generale.
While the ceasefire so far has seemed shaky - Trump said he was "not happy" with either side for violating the truce, particularly with Israel - risk assets held onto their earlier gains.
Source: Reuters
Oil traded in a tight range on Thursday after two straight sessions of losses, as markets digested a sharper US push to shape Venezuela's crude flows—alongside fresh tanker seizures tied to sanctions....
Oil prices edged higher as the market digested the United States' latest moves regarding Venezuela. WTI held steady at US$56/barrel after a sharp drop, while Brent remained below US$60/barrel. This s...
Brent crude prices sank in volatile trading on Wednesday after U.S. President Donald Trump said Venezuela will supply tens of millions of barrels of oil to Washington. Oil prices were nursing losses ...
Oil prices weakened again on Wednesday after the market digested US President Donald Trump's statement regarding a deal to import Venezuelan crude oil to the United States. The main sentiment was the ...
World oil prices fell sharply again after traders began considering the possibility of an end to the Russia-Ukraine war. West Texas Intermediate (WTI) crude was trading near $57 per barrel, after prev...
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the...
Harga emas kembali menguat pada perdagangan terbaru setelah sempat tertekan, didorong oleh melemahnya dolar AS dan turunnya imbal hasil obligasi pemerintah AS. Investor kembali memburu emas sebagai aset lindung nilai di tengah ketidakpastian arah...
Silver is currently hovering around $77,430, likely awaiting triggers from the US dollar and yields. If the dollar strengthens, silver is usually resilient; if the dollar weakens, silver rises more easily.Fundamentals are still supported by safe...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next...
The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one of which was sailing under a Russian flag, as part of...
Federal Reserve Vice Chair for Supervision Michelle Bowman outlined significant changes to bank supervision and regulation during a speech at the...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is...