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 around 1% on Friday and were set for their first weekly gains since mid-April as a U.S. trade deal with United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing. Brent crude rose by 61 cents, or 1%, to $63.45 a barrel by 12:29 p.m. ET (1629 GMT). U.S. West Texas Intermediate crude was up 57 cents, or about 1%, at $60.48. Week-over-week, both benchmarks were on track to rise about 4%. U.S. President Donald Trump said on Friday that China should open up its market to the United States and that 80% tariffs on Chinese goods...
Gold rose over 1% on Friday as the dollar ticked lower, while the market digested recent tariff remarks from U.S. President Donald Trump ahead of a weekend meeting between the U.S. and China. Spot gold was up 0.8% to $3,332.88 an ounce at 0919 ET(13:18 GMT) and gained nearly 3% so far this week. Bullion, known as a hedge against geopolitical and economic uncertainties has risen more than 27% since the start of the year. U.S. gold futures were up 1% to $3,338.10. The U.S. dollar edged 0.3% lower, making bullion less expensive for other currency holders. U.S. President Donald Trump said...
Oil prices rose more than 1% on Friday, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and Britain announced its own U.S. trade deal. Brent crude firmed by $1.19, or about 1.9%, to $64.03 a barrel by 1021 GMT. U.S. West Texas Intermediate crude was up $1.21, or about 2%, at $61.12. On the week, both contracts were on track to rise more than 4%. Oil prices rose more than 1% on Friday, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and...
Silver prices steadied around $32.50 per ounce on Friday, following a volatile week as investors adopted a cautious stance ahead of high-stakes US-China trade negotiations scheduled for this weekend in Switzerland. The upcoming talks will see Chinese Vice Premier He Lifeng meet with US Treasury Secretary Scott Bessent , as both sides seek to ease escalating tariff tensions. The market is closely watching for any signals of de-escalation that could impact the broader commodity landscape. Meanwhile, US President Donald Trump announced a preliminary trade deal with the UK—the first since the...
Gold (XAU/USD) prices turned positive after an intraday dip to $3,275-3,274 region as geopolitical risks emanating from the Russia-Ukraine war, rising tensions in the Middle East, and the India-Pakistan border revived safe-haven demand. Additionally, a modest US Dollar (USD) pullback from near one-month highs touched on Friday turned out to be another factor that acted as a tailwind for the commodity. With the intraday move higher, the XAU/USD pair, for now, seems to have snapped two consecutive days of losing streak, though its upside potential seems limited. The optimism led by the US-UK...
Oil prices rose on Friday, after rising about 3% in the previous session, as trade tensions between top oil consumers the U.S. and China showed signs of easing and Britain announced a "breakthrough" trade deal with the United States. Brent crude rose 43 cents, or 0.68%, to $63.27 a barrel while U.S. West Texas Intermediate crude rose 42 cents, or 0.7%, to $60.33 a barrel by 0731 GMT. Both contracts closed up nearly 3% on Thursday. U.S. Treasury Secretary Scott Bessent will meet China's top economic official, Vice Premier He Lifeng, in Switzerland on May 10 to try to resolve a trade dispute...
The dollar headed for a weekly gain on most major peers on Friday as a U.S.-UK trade deal raised hopes of progress in looming U.S.-China talks, while bets of imminent Fed rate cuts receded after the central bank indicated it was in no hurry. Financial markets are heading into the weekend with the focus squarely on trade negotiations between Washington and Beijing due to begin on Saturday in Switzerland. The euro touched a one-month low of $1.1197 in Asia and was down about 0.6% for the week. The yen has weakened about 0.4% this week and hit a one-month trough of 146.18 per dollar, before...
The EUR/USD pair pared daily losses and traded around 1.1230 during the Asian session on Friday (09/05). The pair depreciated as the US dollar (USD) found support from upbeat US economic data and signs of easing trade tensions. US President Donald Trump announced a "major" trade deal with the United Kingdom (UK), although the headline tariffs remain at 10%, which has dampened market optimism. Attention now turns to initial US-China trade talks set for later this week in Switzerland, but both sides have downplayed expectations of a breakthrough. Trump continues to take a hardline stance 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....