Oil prices held steady on Friday (September 12th) as concerns about oversupply and weakening U.S. demand offset the risk of supply disruptions stemming from conflicts in the Middle East and Ukraine. Brent crude futures rose 11 cents, or 0.2%, to $66.49 a barrel at 08:54 GMT, and U.S. West Texas Intermediate crude rose 4 cents to $62.41. Brent and WTI benchmarks fell 1.7% and 2%, respectively, on Thursday. The International Energy Agency's monthly report on Thursday stated that global oil supply will rise faster than expected this year due to planned production increases by the OPEC+ group,...
Oil held a decline to trade near the lowest level since early June with the focus on how much OPEC+ will increase production at a meeting on Sunday. West Texas Intermediate was near $65 a barrel after shedding 0.6% on Monday, while Brent for September closed under $67. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase as leader Saudi Arabia continues its bid to reclaim market share, according to a Bloomberg survey. Oil lost 9% last quarter in a volatile three months that saw prices drop...
EUR/USD rose to a fresh yearly high of 1.1780 on Monday (01/07) as the Greenback continued to be hit by the prospect of a fiscal budget agreement in the United States (US) and expectations that the Trump administration continues to make progress on a trade deal with major trading partners. At the time of writing, the currency pair was trading at 1.1776, up 0.51%. The sentiment remains positive as depicted by US equity indices posting a solid second quarter in 2025, trading at an all-time high. Therefore, the US Dollar (USD) is nearing a multi-year low amid expectations that the fiscal...
Oil prices edged lower on Monday as investors weighed easing Middle East risks and the possibility of an OPEC+ output increase in August. Both Brent and U.S. crude benchmarks posted their biggest weekly declines since March 2023 last week but rose for a second straight month, rising about 6% and 7%, respectively. Brent futures settled down 16 cents, or 0.2%, at $67.61 a barrel and expired on Monday. The more active September contract expired at $66.74. U.S. West Texas Intermediate crude settled down 41 cents, or 0.6%, at $65.11 a barrel. The 12-day war that began with Israel targeting...
Gold edged higher on Monday, supported by a weaker U.S. dollar, as investors awaited U.S. economic data due later in the week for clues on the Federal Reserve's policy path. Spot gold rose 0.6% to $3,293.55 an ounce by 2 p.m. EDT (1800 GMT) after hitting its lowest since May 29 earlier in the session. The metal rose for a second straight quarter, gaining 5.5%. U.S. gold futures settled 0.6% higher at $3,307.70. "The weaker dollar today is providing a little bit of support. However, we are still in a well-established range that has dominated since mid-May," said Peter Grant, vice president...
Oil prices fell on Monday as investors weighed easing Middle East risks along with the possibility of an OPEC+ output increase in August and uncertainty over the global demand outlook. Brent crude fell 19 cents, or 0.3%, to $67.58 a barrel by 10:01 a.m. EDT (1501 GMT), ahead of the August contract expiring on Monday. The more active September contract fell 34 cents to $66.46. U.S. West Texas Intermediate crude fell 62 cents, or 1%, to $64.90 a barrel. Brent and WTI benchmarks posted their biggest weekly declines since March 2023 last week but were set for a second straight monthly gain of...
Gold rose, supported by a decline in the dollar, as Senate negotiations continued over President Donald Trump's $4.5 trillion tax package. Gold rose 0.6% on Monday, after two straight weekly declines. Republicans are trying to convince opponents to support the tax bill for final passage, amid concerns that it will further swell the U.S. deficit. However, the precious metal is on track to end June flat for a second straight month as tensions in the Middle East eased, while consumer sentiment and inflation expectations improved in the U.S. The potential approval of Trump's tax bill and an...
Silver is holding onto a tight range on Monday (06/30), with XAG/USD consolidating around the key psychological level of $36.00 at the time of writing. The metal is under moderate pressure as broader market sentiment favors risk. US equities are holding onto recent gains near record highs. Rising risk appetite continues to weigh on demand for traditional safe-haven assets, capping Silver's upside. Intraday support has emerged around the current session low of $35.41, which has helped limit Silver's downside moves throughout the month of June. The daily candlestick shows a small-bodied...
Oil prices traded in a largely stable manner Monday as Middle East risks eased while traders considered a possible OPEC+ output increase in August. At 08:25 ET (12:25 GMT), Brent oil futures for August fell 0.1% to $66.72 a barrel, and West Texas Intermediate crude futures fell 0.2% to $65.35 a barrel. Both benchmarks posted their biggest weekly decline since March 2023 last week, but are set to finish higher in June with a second consecutive monthly gain of more than 5%, having rallied strongly on the Israel-Iran war. Crude was nursing sharp losses over the past week as an Israel-Iran...
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....