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...
Oil prices fell in Asian trade on Monday as weak inflation data from top importer China kept traders on edge over slowing demand, while uncertainty over the impact of U.S. trade tariffs also weighed. Crude prices had slumped to more than three-year lows last week amid a storm of negative factors, chiefly concerns over slowing demand and increasing supply. Signs of a cooling U.S. economy also weighed. Brent oil futures expiring in May fell 0.4% to $70.10 a barrel, while West Texas Intermediate crude futures fell 0.4% to $66.48 a barrel by 22:48 ET (02:48 GMT). Both contracts were trading...
Gold held firm following a weekly advance as rising concerns about the global economic outlook buttressed haven demand. Spot bullion steadied near $2,912 an ounce, after gaining almost 2% last week. In the US, President Donald Trump said the economy faced "a period of transition" as he pressed on with his focus on tariffs and federal job cuts. In China, data pointed to persistent deflationary pressures. The precious metal has surged in the opening quarter of 2025, hitting successive records and gaining every week apart from one. The rally has been driven by investor anxiety about...
The dollar index remained at a four-month low below 104 on Monday after sliding over 3% last week, pressured by mounting US economic concerns. On Sunday, US President Donald Trump described the economy as undergoing "a period of transition" during a Fox News interview, when asked about the risk of a recession. His remarks came as financial markets grappled with an escalating global trade war, following new US tariffs on Mexico, Canada, and China. Meanwhile, Friday's jobs report added to the uncertainty, showing that the US economy added 151K jobs in February, slightly below forecasts of...
The Australian Dollar (AUD) rebounded on Monday, recovering losses from the previous two sessions against the US Dollar (USD). The AUD/USD pair's upward movement was primarily driven by concerns over a potential slowdown in the US economy. The Aussie Dollar also received support from stronger-than-expected GDP growth and trade data from Australia released last week. On the monetary policy front, the latest Reserve Bank of Australia (RBA) Meeting Minutes indicated caution regarding further interest rate cuts, clarifying that February's rate reduction does not signal a commitment to...
Brent crude oil futures dropped to around $69.9 per barrel on Monday as weak economic data from China and uncertainty over U.S. tariffs fueled demand concerns. China's consumer prices fell for the first time in 13 months, while producer price deflation persisted, underscoring deflationary pressures in the world's largest crude importer. Oil remains under pressure as President Trump's shifting tariff policies raised concerns on economic growth and energy demand. While Trump eased some tariffs on Mexico and Canada until April 2, Canada's retaliatory tariffs remain in place, and China's...
Oil fell to near the lowest since September as weak economic data from China compounded a dour outlook for demand. Brent crude traded near $70 a barrel, while West Texas Intermediate was below $67 after seven weeks of declines. China's consumer inflation dropped by more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the world's biggest crude importer. Crude has been hit by a confluence of bearish factors, including an escalating global trade war, plans by OPEC and its allies to increase production, and talks to end the...
Gold edges higher in the early morning Asian session, supported by prospects of a U.S. recession that could enhance the safe-haven appeal of the precious metal. In an interview with Fox News on Sunday, President Trump refused to rule out a recession for the U.S. this year. "Traders and investors are reacting to a sharp and sudden deterioration in U.S. economic data," Saxo Bank's Ole S. Hansen says in a research report. Gold's outlook is still supportive, especially given the limited scope of its latest correction, which signals strong demand despite selling pressure from technically...
Oil prices gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine. Brent crude futures settled at $70.36 a barrel, up 90 cents, or 1.3%. West Texas Intermediate futures finished at $67.04, up 68 cents, or 1.02%. Trump said in a post on Truth Social that he was "strongly considering" sanctions on Russian banks and tariffs on Russian products because its armed forces continue attacks in Ukraine. In early trade, Brent jumped as high as $71.40, while WTI hit $68.22 after Russia's Deputy...
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....