Oil prices continued their rally amid growing concerns that Ukrainian drone attacks could disrupt oil flows through Russia's two most important crude export hubs on the Baltic coast. Brent crude rose above $67 per barrel, after falling 1.7% on Thursday. The attacks have halted operations at Primorsk, the region's main oil loading port, and three pumping stations that deliver crude to the Ust-Luga hub, a source familiar with the situation said. This increased risk premium offsets the International Energy Agency's (IEA) projection for a record-breaking oil supply surplus next year. The IEA's...
The Australian dollar (AUD) strengthened against the US dollar (USD) on Tuesday (6/24), extending its gains for the second straight session. The AUD/USD pair strengthened after US President Donald Trump said a ceasefire had been agreed between Iran and Israel. Trump said that a "complete and total" ceasefire between Israel and Iran would be in place to end the conflict between the two countries. Iran fired missiles at Al Udeid Air Base in Qatar on Monday. Qatari officials said the missiles were intercepted and the base had been evacuated in advance. Trump announced Saturday night that he...
Silver (XAG/USD) prices pared intraday losses, trading around $36.10 per troy ounce during Asian hours on Tuesday (6/24). Precious metals prices, including Silver, depreciated as a ceasefire agreement between Israel and Iran reduced demand for safe havens. President Trump said on Monday that a "complete and total" ceasefire between Israel and Iran would go into effect to end the conflict between the two countries. He also added that Iran would begin the ceasefire immediately, followed by Israel after 12 hours. Trump's comments came shortly after Iran fired missiles at the Al Udeid Air Base...
Oil prices plunged on Tuesday to their lowest in more than a week as U.S. President Donald Trump said a ceasefire had been agreed between Iran and Israel, easing concerns about supply disruptions in the region. Brent crude futures fell $2.69, or 3.76%, to $68.79 a barrel by 0006 GMT, after falling more than 4% earlier in the session and hitting their lowest since June 11. U.S. West Texas Intermediate crude fell $2.7, or 3.94%, to $65.46 a barrel, after hitting its weakest since June 9 earlier in the session and dropping about 6%. Trump announced on Monday that Israel and Iran had fully...
The dollar fell on Tuesday while the Australian and New Zealand dollars rose after U.S. President Donald Trump announced a ceasefire between Israel and Iran, in news that cheered investors and sparked a risk rally across markets. Trump said a "complete and total" ceasefire between Israel and Iran would go into effect with the aim of ending the 12-day conflict between the two countries, moments after both sides threatened new attacks. An Iranian and Qatari official confirmed that Tehran had agreed to the ceasefire, while Israel's Channel 12 reported that Prime Minister Benjamin Netanyahu...
Gold fell as safe-haven demand waned after U.S. President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would begin around midnight Monday in Washington. Bullion fell as much as 0.6% to below $3,350 an ounce in early Asian trade. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran's nuclear facilities, said the deal was aimed at ending the fighting permanently. There was no immediate comment from Iran or Israel. Rising safe-haven demand as geopolitical tensions escalate has been one of the main catalysts...
The Euro (EUR) advances against the US Dollar (USD) on Monday, despite the market mood remaining downbeat amid the Middle East crisis. Worse than expected HCOB Flash PMIs in the Eurozone barely weighed in the shared currency, while German PMIs showed a slight improvement, though they remained in contractionary territory. At the time of writing, EUR/USD trades at 1.1567, up 0.40%. Geopolitics are the primary driver on Monday, as we head into the latest trading week in June. Last Saturday, the US delivered an attack on the three most critical nuclear facilities in Iran, following failed...
Gold prices remain bid during the North American session as breaking news revealed Iran's attack on US bases in Qatar, in retaliation for the over-the-weekend attack on Iran's nuclear installations by the White House. Meanwhile, US economic data was overlooked mainly as geopolitical tensions in the Middle East intensified. At the time of writing, XAU/USD trades at $3,385, up 0.39%. Macroeconomic data has been pushed aside as geopolitics grabs most headlines. Iran reported the launch of missiles at US bases in Qatar, Kuwait and Iraq, according to Al Arabiya, citing Israeli media. Alongside...
Oil prices fell 1% on Monday after touching a five-month high as markets tried to gauge the impact on transit of oil and gas via the Strait of Hormuz after U.S. airstrikes against Iran at the weekend. Brent crude futures were down 70 cents, or 0.9%, at $76.31 a barrel by 10:46 a.m. ET (1446 GMT). U.S. West Texas Intermediate crude (WTI) fell 76 cents, or 1%, to $73.09. Earlier in the session, Brent and WTI touched five-month highs of $81.40 and $78.40 respectively, before seesawing between positive and negative territory throughout the European trading session. U.S. President Donald Trump...
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....