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 as U.S. stocks continued their rally, extending a two-day rally, while investors assessed the prospects for a ceasefire in Ukraine and signs of a widening global surplus. West Texas Intermediate crude oil prices traded above $60 per barrel, signaling that a risk premium remains in place as a peace deal remains elusive. Ukrainian negotiators headed for a new round of talks in Florida, with Russia objecting to several points in the U.S.-backed plan. The Kremlin said it was awaiting analysis of the U.S.-Ukraine discussions, Interfax reported on Friday. The market is watching...
Silver hit a new record high and is on track for a second weekly gain as strong inflows into exchange-traded funds (ETFs) fueled a sharp rally. The white metal rose as much as 3.9% on Friday to a new record of $59.33 an ounce. Total additions to silver-backed ETFs in the four days through Thursday reached their highest level for any full week since July, a strong signal of investor interest despite signs that silver's rally may be overdone. "These inflows could quickly amplify the price action and trigger a short-term short squeeze," said Dilin Wu, research strategist at Pepperstone Group...
Gold (XAU/USD) trades marginally higher on Friday, oscillating within the familiar range that has defined price action this week, as dovish Federal Reserve (Fed) expectations keep the precious metal broadly supported. At the time of writing, XAU/USD is hovering near $4,222, with investors turning their focus to the delayed US Personal Consumption Expenditures (PCE) inflation data due later in the day. Markets will closely parse the PCE release as the final checkpoint ahead of next week's Fed interest rate decision. Recent labour indicators have delivered mixed signals but have done little...
Brent crude oil futures hovered around $63.3 per barrel on Friday, holding at a two-week high and remaining on track for a weekly gain, driven by geopolitical risk premium. Traders continued to watch for a possible US move in Venezuela after President Donald Trump signaled imminent action against the oil giant, with Rystad Energy warning that any escalation could threaten the country's 1.1 million bpd of crude output. Prices were also supported by the lack of progress in US talks in Moscow over the Ukraine war, which reduced the near-term prospects for restoring Russian supply, while...
Gold rebounded above $4,210 per ounce on Thursday after an early dip as markets squared positions ahead of the FOMC and digested fresh US labour signals that accelerated expectations of imminent easing. ADP reported a surprise decline of 32,000 private payrolls while Challenger announced 71,321 layoffs in November bringing the year to date total near 1.17 million which reinforced evidence that the labour market is cooling and lifted market confidence in a December 25bp cut. The dollar weakened with the DXY near 98.8 at its lowest since late October which reduced the opportunity cost of...
The USD/CHF pair weakened to the 0.8030 area at the start of Friday's European session. The US dollar was pressured by strong speculation of a Fed rate cut next week and rumors that White House economic adviser Kevin Hassett could replace Jerome Powell as Federal Reserve Chair. The market now prices nearly an 85% chance of a 25 bps rate cut at the December meeting, adding to selling pressure on the greenback. Investors are also awaiting the release of US September PCE inflation data, which could provide important clues to the Fed's future policy direction. In Switzerland, CPI inflation fell...
The dollar inched lower versus G-10 peers as markets await key inflation and sentiment readings from the US which may add context to mixed jobs data this week. The Bloomberg Dollar Spot Index fell 0.1%. US personal income, personal spending, core PCE, PCE price index and preliminary Michigan consumer sentiment are on due for release later today. USD/JPY fell 0.1% to 154.92 after being sold over the Tokyo fixing. Spot had hit 154.51 and a two-week low in London in response to report that key members of Prime Minister Sanae Takaichi's government wouldn't try to stop the...
Oil prices have held onto gains over the past two days amid market focus on ceasefire talks in Ukraine and concerns about a global oversupply. Brent is trading above $63 per barrel, while WTI is hovering near $60 per barrel. Ukrainian negotiators are preparing for a new round of talks in Florida, but Russian President Vladimir Putin has said several points in the US-backed peace plan are still unacceptable. On the other hand, the market is concerned that supply will become more abundant if sanctions on Russia are eased, increasing its oil exports. This pressure is compounded by Saudi Aramco...
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....