Oil prices fell on Friday (August 29th) but were poised for weekly gains, swayed by uncertainty over Russian supplies and expectations of falling demand as the summer driving season nears its end in the United States, the world's largest fuel consumer. Brent crude futures for October delivery, which expire on Friday, fell 36 cents, or 0.5%, to $68.26 at 08:16 GMT, while the more active November contract fell 29 cents, or 0.4%, to $67.69. West Texas Intermediate crude futures fell 28 cents, or 0.4%, to $64.32. Brent was poised for a weekly gain of 0.8%, while WTI was expected to rise 1%....
Oil prices weakened following the Trump-Putin meeting in Alaska today. Brent fell 0.93% to $66.18/barrel at the time of writing.The market is weighing the possibility of a ceasefire in Ukraine, which could lead to the easing of Russian oil sanctions, versus a stalemate that risks triggering secondary US sanctions.Sentiment is also underscored by weak Chinese data (falling factory output, slowing retail sales) and concerns about a supply surplus as OPEC+ production increases. The IEA assesses that the market is likely oversupplied, making prices easily bearish. Oil prices at the time of...
Silver prices held below $38 an ounce on Friday after falling more than 1% in the previous session, as hotter-than-expected US producer inflation dampened hopes for a significant Federal Reserve interest rate cut in September. Weekly jobless claims also came in at 224,000, below the 228,000 forecast, indicating some labor market resilience. The market still rates more than a 90% chance of a 25 basis point cut next month, but the chances of a larger 50 bps move have been erased. Source: Newsmaker.id
Gold prices held steady on Friday (August 15th), continuing the previous session's decline and on track for their worst week since late June. Sentiment was weighed down after a series of stronger-than-expected US data eroded hopes of a significant Fed interest rate cut, causing the dollar and US bond yields to strengthen and dampen interest in non-yielding assets like gold. Pressure intensified after the US PPI rose at its fastest pace in three years in July, well above consensus, indicating that companies were beginning to pass on tariff-induced import cost increases to final...
The oil market is currently facing strong bearish fundamental pressure. The IEA estimates that global supply will increase rapidly—around 2.5 million barrels per day in 2025—while demand growth continues to weaken, reaching only around 680,000 bpd, due to weak consumption in developed countries, as well as China, India, and Brazil. OPEC+ responded by ending its production cuts and instead increasing output, exacerbating the global surplus. Recent data shows that US shale oil producers are reducing investment and even decommissioning rigs as oil prices fall below breakeven. Other analysis...
Silver prices held above $38.50 per ounce on Thursday (August 14th), hovering near a three-week high as expectations of a deeper Federal Reserve interest rate cut this year buoyed the market. Weaker US inflation data suggested that President Donald Trump's tariffs were not adding to price pressures, while signs of a weakening labor market reinforced the dovish outlook. The market is almost fully pricing in a September rate cut, with some anticipating a larger 50 basis point cut. Additionally, Treasury Secretary Scott Bessent called for multiple rate cuts and said the Fed could begin...
Brent crude oil prices rose to around $65.8 per barrel on Thursday, halting a two-day decline that was fueled by expectations ahead of talks between U.S. President Donald Trump and Russian President Vladimir Putin. Trump warned late Wednesday that Russia would face "very severe sanctions" if Putin refused to end the war in Ukraine. While he did not specify the steps he would take, he had previously threatened economic sanctions, including on Russian oil, if Friday's meeting in Alaska ended in failure. However, the gains were limited, with prices remaining near a more than two-month low...
Silver prices strengthened slightly on Wednesday Asian time, hovering around $38.5 per troy ounce and approaching a multi-week high. This increase followed a weakening US dollar and falling Treasury yields, a combination that typically supports zero-coupon precious metals. Silver's strengthening also aligns with the rise in gold, which is sensitive to real funding costs. Market sentiment was driven by expectations of a Fed interest rate cut at its September meeting following moderate July inflation data and signs of labor market weakness. Source : Newsmaker.id
Gold prices stabilized in the mid-Asian session on Thursday, after touching $3,374 troy ounce amid hopes of a Fed rate cut that would strengthen the appeal of this non-interest-bearing precious metal. The US dollar, which has tended to be defensive today, is still holding back gains for the yellow metal ahead of the release of US inflation and employment data. The market is also still seeking official clarification on whether US bullion imports will be subject to tariffs, after days of confusion that drove up premiums for gold futures in New York over spot prices in London. President...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....