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 fell about 2% to their lowest in two weeks on Tuesday as investors braced for OPEC+ to raise output and worried that U.S. President Donald Trump's tariffs would hurt the global economy and slow demand for the fuel. Brent crude futures fell $1.61, or 2.4%, to settle at $64.25 a barrel. U.S. West Texas Intermediate (WTI) crude fell $1.63, or 2.6%, to settle at $60.42. Both benchmarks posted their lowest closes since April 10. Trump's aggressive tariffs on U.S. imports have made it more likely the global economy will slip into recession this year, according to a majority of...
Gold fell nearly 1% on Tuesday as signs of easing U.S.-China trade tensions dampened some demand for the safe-haven asset, while investors braced for key economic data this week to gauge the Federal Reserve's policy outlook. Spot gold fell 0.8% to $3,315.84 an ounce by 2:22 p.m. ET (1822 GMT). U.S. gold futures settled 0.4% lower at $3,333.6. "There's some optimism that there's going to be a bit of a de-escalation in the trade war between the U.S. and China," said David Meger, director of metals trading at High Ridge Futures. President Donald Trump's administration plans to mitigate the...
Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve's policy outlook. Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20. "There is some optimism that there will be some de-escalation of the trade war between the U.S. and China," said David Meger, director of metals trading at High Ridge Futures. "We've seen the equity markets rebound over the course of the last several sessions....
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is having a knee jerk reaction on the back of comments from United States (US) Treasury Secretary Scott Bessent and White House Press Secretary Karoline Leavitt. During a Q&A at the White House Leavitt stepped in to take over from Bessent on a question around Amazon, that will publish the tariff impact on prices from goods it is selling on its website. Representative Leavitt said she just got off the phone with President Donald Trump and that this move by Amazon is considered...
Oil extended a decline as the global trade war hurt the outlook for demand, with data indicating strain in the US economy and China pushing back against the Trump administration's tariffs. Brent slipped below $65 a barrel, down for a second day, with West Texas Intermediate near $61. A widely referenced gauge of US manufacturing weakened significantly, another sign of the drag from President Donald Trump's levies. Other data due this week will shed further light on trading conditions. Brent is on track for the largest monthly loss since 2021, with prices battered by tit-for-tat...
The AUD/USD pair retraces to near 0.6400 during European trading hours on Tuesday from an over four-month high of 0.6450 posted earlier in the day. The Aussie pair corrects sharply as the US Dollar (USD) gains despite increasing uncertainty over the bilateral trade outlook between the United States (US) and China. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds to near 99.30 after a steep correction on Monday. Market sentiment is favorable as investors expect the trade war will be limited between the world's two largest powerhouses....
Silver prices hovered around $33 per ounce on Tuesday, stabilizing after a recent pullback as investors awaited clarity on US-China trade relations and key US economic releases. China reiterated that it is not engaged in trade talks with the US, countering claims made by President Donald Trump. Meanwhile, US Treasury Secretary Scott Bessent said several major trading partners have made "very good" tariff proposals, and a trade agreement with India could be announced soon. Bessent also noted that China's move to exempt certain US goods from retaliatory tariffs signaled a willingness to ease...
The dollar recouped some of its losses on Tuesday, supported by reports that the U.S. administration may ease planned tariffs, although investor caution lingered over whether a meaningful de-escalation in the U.S.-China trade conflict was in motion. The administration of U.S. President Donald Trump is set to take steps on Tuesday to soften the impact of his automotive tariffs. The United States and China in recent days seemed to have softened their respective stances, with Washington signalling openness to reducing tariffs and Beijing exempting some U.S. imports from its 125%...
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....