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 rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures gained 21 cents, or 0.3%, to $68.72 a barrel by 0335 GMT. U.S. West Texas Intermediate crude futures climbed 22 cents, or 0.3%, to $65.47 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in U.S.-European Union trade talks, following President Donald Trump's tariff deal with Japan. The agreement lowers duties on auto imports and spares Tokyo...
Silver price (XAG/USD) extends its losses for the second successive session, trading around $39.10 per troy ounce during the Asian hours on Thursday. The price of Silver struggles due to weakened safe-haven demand, driven by the optimism over further trade deals between the US and key partners. The Financial Times reported that the European Union (EU) and the United States (US) are closing in on a deal that would impose 15% tariffs on EU goods imported into the US. Additionally, US President Donald Trump announced on Tuesday a major tariff deal with Japan, which includes a 15% tariff on...
Gold hovered below $3,390 per ounce on Thursday, holding on to losses of over 1% from the previous session, as optimism over further trade deals between the US and key partners weighed on the metal's safe-haven appeal. The European Union is moving toward a trade agreement with Washington that would impose a broad 15% tariff on EU goods entering the US, avoiding a steeper 30% levy scheduled to take effect on August 1. The tariff, which could also apply to cars, would mirror the framework of a similar US-Japan deal. However, some caution remained amid ongoing threats of 15% to 50% tariffs on...
The Japanese yen strengthened past 146 per dollar on Thursday, reaching a two-week high as optimism surrounding the new US-Japan trade deal lifted demand. The agreement sets a 15% tariff on Japanese exports to the US, notably lower than the 25% previously threatened by President Donald Trump. Broader risk sentiment also improved amid reports of progress in US-EU trade talks. On the domestic front, Japan's private sector growth held steady in July, supported by solid services activity, though manufacturing slipped into contraction. However, the yen faces potential downside pressure from...
The US dollar index slipped toward 97 on Thursday, nearing a three-week low, as progress in trade talks with major partners lifted rival currencies. Reports indicated that the US and EU are moving closer to a deal, with discussions centered around a 15% baseline tariff on EU goods and possible exemptions. Earlier this week, Japan agreed to a similar 15% tariff on its exports to the US, a reduction from the 25% previously threatened by President Donald Trump. Additionally, Treasury Secretary Scott Bessent signaled that the current tariff truce with China is likely to be extended beyond its...
The Australian dollar strengthened to around $0.661 on Thursday, extending its five-session rally to hit its highest level since November last year, fueled by optimism over latest global trade developments. The US and EU are reportedly close to a trade deal that would impose 15% tariffs on most imports while waiving duties on select items, according to European Commission officials. Treasury Secretary Scott Bessent also confirmed that US and Chinese officials will meet in Stockholm next week for further talks. These developments follow a recent US–Japan tariff agreement that helped ease...
Gold edges higher in the early Asian session on possible position adjustments after front-month gold futures snapped a three-day winning streak overnight. Speculative positioning in the precious metal appears to be elevated though not extreme, while retail demand seems to be slower, two members of Sucden Financial's research team say in a commentary. As such, gold could remain in a consolidation phase until a clearer dovish signal from the Fed emerges, the members add. Spot gold is little changed at $3,390.51/oz. Source: Dow Jones Newswires
Oil steadied after a string of losses, with investors looking to US trade talk progress and low inventory levels. Brent crude traded below $69 a barrel after four sessions of declines, with West Texas Intermediate above $65. US President Donald Trump said he would set tariffs of 15% to 50% ahead of an Aug. 1 deadline for trade talks. The 15% levy rate was set for Japan on Wednesday, while the European Union is progressing toward a similar agreement. "There may be mild buoyancy in crude from a less-dismal demand-side assumption as markets express relief on...
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....