Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S. West Texas Intermediate crude finished at $62.69, a gain of 32 cents, or 0.51%. Early in the day, crude reacted to the drone attack on Russia's northwestern port of Primorsk, which led to a suspension of oil loading operations overnight, an official from Ukraine's SBU security service said. "Those attacks on Russian energy infrastructure have room...
Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump's stance on the conflict kept investors on edge. Brent crude futures rose 36 cents, or 0.5%, to $77.06 a barrel by 0913 GMT. U.S. West Texas Intermediate crude for July was up 54 cents, or 0.7%, at $75.68. Brent had surged to its highest in nearly five months at $78.50 on June 13, when Israel began its attacks. The conflict entered its seventh day on Thursday after Israel struck a key Iranian nuclear site and Iranian missiles hit an Israeli hospital. There is...
The EUR/USD pair has bounced up from weekly lows at 1.1445 on Thursday and is trading at 1.1475, practically flat on the day, at the moment of writing. Fears of an escalation of the Israel-Iran war into a regional conflict are dampening risk appetite and weighing on the Euro in favor of safe assets such as the US Dollar. US President Donald Trump stole the Federal Reserve's (Fed) spotlight on Wednesday, leaving the world guessing whether the US may join Israel in its attack on Iran, and a report from Bloomberg, released somewhat later, suggested that US officials might be preparing to enter...
The dollar rose on Thursday, boosted by safe-haven demand amid the threat of a wider conflict in the Middle East and possible U.S. involvement, while investors weighed Federal Reserve Chairman Jerome Powell's warning tone on inflation. After a quiet start in Asian hours, the dollar strengthened across the board, weighing on risk-sensitive currencies after a report said U.S. officials were preparing for a possible attack on Iran in the coming days. The Australian dollar fell as much as 0.5% but was last down 0.3% at $0.6489, while the New Zealand dollar fell 0.5% to $0.5998. Emerging-market...
Gold prices rose on Thursday as the Iran-Israel conflict dragged on for a seventh day, boosting demand for the safe-haven asset, although the US Federal Reserve's cautious stance on future interest rate cuts kept gains in check. Spot gold was up 0.2% at $3,374.54 an ounce, by 0505 GMT. US gold futures were down 0.5% at $3,391.90. "Gold has been gaining a bit as we wait for the next move in the Israel-Iran conflict. If the US decides to get directly involved in the conflict, that could raise the geopolitical stakes," said Tim Waterer, chief market analyst at KCM Trade. Geopolitical...
Silver (XAG/USD) oscillated in a narrow range around the $36.75 area during the Asian session on Thursday (June 19) and for now, seems to have stalled the previous day's modest decline from its highest level since February 2012. Meanwhile, the technical setup favors bullish traders and suggests that the path of least resistance for the white metal is to the upside. A sustained strength beyond the $36.45-$36.50 mark confirms a breakout through a short-term descending trend channel, which constitutes the formation of a bullish flag pattern. Moreover, the Relative Strength Index (RSI) on the...
The Japanese Yen (JPY) reversed modest Asian session gains against the broadly stronger USD and remained near monthly lows retested earlier this week. The Bank of Japan's (BOJ) cautious approach to winding down its decade-long monetary stimulus forced investors to push back their expectations about the likely timing of the next interest rate hike to Q1 2026. Additionally, concerns about the potential economic impact of the US's 25% tariffs on Japanese vehicles and a reciprocal 24% levy on other imports turned out to be key factors undermining the JPY. The USD, on the other hand, rose to...
Oil prices fell on Thursday as investors hesitated to take new positions after US President Donald Trump gave mixed signals about the country's potential involvement in the ongoing Israel-Iran conflict. Brent crude futures fell 37 cents, or 0.48%, to $76.33 a barrel by 0110 GMT after rising 0.3% in the previous session marked by high volatility, when prices fell as much as 2.7%. U.S. West Texas Intermediate crude for July fell 28 cents, or 0.37%, to $74.86 a barrel, after rising 0.4% the previous day despite falling as much as 2.4%. The July contract expires on Friday and the more active...
USD/CHF rallied for the fourth straight day after the Federal Reserve (Fed) decided to keep interest rates on hold, although they are still eyeing two rate cuts by 2025. This, coupled with US President Trump's statement that he is open to Iran talks, boosted the dollar. At the time of writing, the pair was trading at 0.8180, up 0.08%. USD/CHF Price Forecast: Technical outlook The price action suggests that the USD/CHF downtrend is still in play, although since June 13, it seems to be consolidating in the 0.8038-0.8350 range in the near term. This is because the Relative Strength Index...
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....