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...
The AUD/USD pair strengthened near 0.6450 during the Asian session on Monday (05/05). The Australian dollar (USD) strengthened against the greenback after Australian Prime Minister Anthony Albanese won a second three-year term in the 2025 Federal Election, making a big gain in Saturday's Federal Election results. Labor Party leader and Premier Albanese claimed a majority in parliament on Saturday, with more than 45% of the vote counted. Albanese became the first leader in decades to secure a second term, defeating opposition leader Peter Dutton from the center-right Liberal-National...
Oil prices plunged on concerns about a global glut after OPEC+ agreed to a large output increase, adding to supplies at a time when demand is being hampered by headwinds from the trade war. Global benchmark Brent plunged as much as 4.6% to $58 a barrel as the week began, while West Texas Intermediate neared $56. The decision by OPEC and its allies came at a meeting Saturday, with the group's leaders seeking to punish overproducing members including Kazakhstan in a shift in strategy that has sent prices plunging. (Newsmaker23) Source: Bloomberg
Oil prices plunged more than 1% on Friday, posting their biggest weekly loss since late March, as traders remained cautious ahead of an OPEC+ meeting to decide the group's output policy for June. U.S. West Texas Intermediate crude futures settled down 95 cents, or 1.6%, at $58.29 a barrel. Brent crude futures settled down 84 cents, or 1.4%, at $61.29 a barrel. For the week, Brent was down more than 8% and WTI was down about 7.7%. The OPEC+ meeting was moved up to Saturday from Monday, three sources told Reuters on Friday, although it was not clear why it was rescheduled. Members of the...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, weakened on Friday (02/05) after briefly moving above the 100.00 level. Despite stronger-than-expected US Nonfarm Payrolls data, the greenback came under pressure from dovish interpretations and emerging trade headlines involving China. Daily market movers: Not as expected The US Bureau of Labor Statistics reported that Nonfarm Payrolls rose by 177,000 in April, beating the consensus of 130,000 but lower than the revised 185,000 in March. The Unemployment Rate remained at 4.2%, while...
Gold fell on Friday and headed for a second straight weekly decline as easing trade tensions between the U.S. and China and a strong jobs report kept prices pressured. Spot gold fell 0.4% to $3,228.50 an ounce by 1:41 p.m. ET (1741 GMT). Prices were down 2.6% for the week, after hitting a record $3,500.05 on April 22. They hit their lowest since April 14 on Thursday. U.S. gold futures settled 0.6% higher at $3,243.30. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks. "Gold looks like $3,500...
Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss. Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22. U.S. gold futures rose 1.3% to $3,262.10. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for...
Oil headed for a second weekly loss as OPEC+ prepared to weigh further production increases, while traders assessed the latest developments in the US-China trade standoff. Global benchmark Brent futures traded near $62 a barrel on Friday, with the July contract down about 6% this week on expectations that Saudi Arabia will steer OPEC+ to announce another supply boost on Monday. West Texas Intermediate held below $60. Prices pared some of their losses after US government data showed that job growth was robust in April and the unemployment rate held...
Silver price (XAG/USD) moves higher to near $32.60 during European trading hours on Friday. The white metal gains as the US Dollar (USD) corrects ahead of the United States (US) Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT. The US Dollar index (DXY), which tracks the Greenback's value against six major currencies, retraces to near 99.90 from the two-week high of 100.37. Technically, a lower US Dollar makes the Silver price a value bet for investors. The US NFP report is expected to show that the economy added 130K fresh workers, significantly lower than the...
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....