Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
Oil prices fell on Tuesday as traders bet that talks over a possible agreement to legitimize or end Russia's invasion of Ukraine could ease sanctions on Russian crude oil, boosting global supply. Brent crude futures settled at $65.79 a barrel, down 81 cents, or 1.22%. U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, finished at $62.35 a barrel, down $1.07, or 1.69%. "Even with this peace dividend, we have a record short position," said Phil Flynn, senior analyst with Price Futures Group. "Because of the size of the short position, people are...
The dollar was mixed on Tuesday as traders awaited the Federal Reserve's Jackson Hole Economic Policy Symposium later this week for further clues on U.S. interest rate policy. A speech on Friday by Fed Chair Jerome Powell is this week's main focus, with little major economic data to drive market direction. Traders are tuned into whether Powell will push back against market pricing of a rate cut in September. Traders ramped up bets on a rate cut at the Fed's September 16-17 meeting after a weak July jobs report, and as last month's consumer price inflation report showed limited upward...
Gold (XAU/USD) edges lower during the American session on Tuesday, pressured by a firmer US Dollar and improved risk sentiment. The metal is trading near $3,320, close to the 12-day low marked during early Asian trade. Earlier in the day, Gold had briefly rebounded from overnight weakness following Monday's White House summit between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and key European leaders. While the talks signaled diplomatic unity, the lack of a ceasefire continues to keep geopolitical uncertainty elevated, providing some underlying support to safe-haven...
Gold prices (XAU/USD) briefly strengthened on Tuesday (August 19th), but weakened again in the American trading session as the US dollar strengthened. Previously, gold had recovered from overnight losses following a White House meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and several European leaders. Although the meeting demonstrated diplomatic coordination, the lack of a ceasefire agreement has kept geopolitical uncertainty high, thus maintaining demand for safe-haven assets. At the time of writing, gold was trading around $3,335 per ounce, down from...
Oil prices fell as traders weighed the prospect of a ceasefire in Ukraine, with President Donald Trump pushing for a summit between Vladimir Putin and Volodymyr Zelenskiy after a series of high-level talks. Brent oil prices fell below $66 a barrel, remaining within a narrow range they have held for the past two weeks. Any peace deal could eventually pave the way for easing restrictions on Russian crude exports, although Moscow has largely maintained its oil supplies since the conflict began. Trump called the Russian president and urged him to begin working on plans for a one-on-one meeting...
Gold strengthened as traders monitored US-led efforts to end the war in Ukraine and counted down to the Federal Reserve's annual meeting in Jackson Hole, which may yield hints about a possible interest rate cut. Spot gold prices edged up to $3,345 an ounce, after ending nearly flat on Monday. Fed Chairman Jerome Powell is scheduled to deliver a keynote address at a meeting of central bankers on Friday, and his remarks could reinforce widespread investor expectations for looser monetary policy. Lower borrowing costs typically benefit precious metals, a non-yielding asset. Meanwhile, the US...
Gold prices edged higher on Tuesday (August 19th), boosted by a weaker dollar amid prospects for a US interest rate cut, while investors awaited the Fed Chair's speech in Jackson Hole later this week. Spot gold rose 0.2% to $3,336.88 per ounce at 08:14 GMT. US gold futures for December delivery rose 0.1% to $3,381.20. The dollar index fell 0.1% against a basket of major currencies, making gold cheaper for holders of other currencies. "Gold has been in a tight range for the past few weeks, pulled in various directions amid the ebb and flow of trade tensions, efforts to secure a...
World oil prices weakened on Tuesday (August 19th) as investors weighed the possibility of a meeting between Russia, Ukraine, and the United States that could potentially lead to the lifting of sanctions on Russian oil. This raised expectations of additional supply in the market. Brent futures fell 0.72% to $65.80 per barrel, while WTI September fell 0.63% to $61.93 per barrel. The more active WTI October contract also weakened 0.73% to $62.24 per barrel. The price decline occurred after oil had closed up around 1% in the previous trading session. The market responded to news from the White...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....