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 rose for a second day after the Trump administration again vowed to reduce Iran's energy exports to zero, while talks between the US and Japan stirred optimism that agreements on trade can be reached. Brent crude climbed above $66 a barrel after advancing almost 2% on Wednesday, putting futures on track for their first weekly gain this month. Treasury Secretary Scott Bessent said the US would apply maximum pressure to disrupt Iran's oil supply chain, as his department sanctioned a second Chinese refinery accused of handling crude from the Islamic Republic. The...
The GBP/USD pair ticks lower to near 1.3230 during European trading hours on Thursday. The Cable edges lower as the US Dollar (USD) attracts some bids on meaningful progress in trade talks between the United States (US) and Japan. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies rebounds to near 99.50 from the three-year low of 99.00. Investors see this as a sign that heightened global economic uncertainty, driven by imposition of hefty tariffs by US President Donald Trump, will ease amid growing confidence that Trump is leaned towards having...
Gold prices retreated on Thursday as investors booked profits after bullion hit an all-time high, with traders assessing tariff negotiations between the U.S. and Japan. Spot gold was down 0.8% to $3,317.63 an ounce, as of 0717 GMT. Bullion has gained over 2% so far this week. U.S. gold futures shed 0.5% to $3,330.60. Bullion hit a record high of $3,357.40 earlier in the session and has risen more than 27% so far this year. "The retreat is largely driven by short-term profit-taking following the sharp rally over the past week. A temporary stabilization in U.S. bond yields and a modest...
Oil prices extended gains on Thursday on the prospect of tighter supplies after Washington imposed further sanctions to curb Iran's oil trade and as some OPEC producers pledged more output cuts to offset pumping above agreed quotas. Brent crude futures rose 56 cents, or 0.85%, to $66.41 a barrel by 0625 GMT, and U.S. West Texas Intermediate crude was at $63.12 a barrel, up 65 cents, or 1.04%. Both benchmarks closed 2% higher on Wednesday at their highest since April 3 and were on track for their first weekly gain in three weeks. Thursday is the last settlement day of the week ahead of the...
Gold (XAU/USD) prices attracted some intraday sellers following an Asian session rally to a fresh all-time high as positive risk sentiment was seen denting demand for traditional safe-haven assets. Further, a modest US Dollar (USD) uptick from near multi-year lows turned out to be another factor that undermined the commodity. However, a meaningful corrective slide for the precious metal seems elusive amid ongoing uncertainty surrounding US President Donald Trump's tariff announcement, escalating US-China trade war, and fears of a global recession. Meanwhile, the market is still pricing in...
The dollar rose from a seven-month low against the yen on Thursday as U.S.-Japan trade talks avoided a foreign exchange scare, while it gained slightly against other currencies ahead of the long Easter holiday. The dollar has been battered this month as the U.S. threatened, imposed and then delayed massive tariffs, denting confidence in U.S. economic growth and stability. The Swiss franc's nearly 8% gain since April 2 is the biggest among G10 currencies and at 0.8167 per dollar, it is close to testing resistance at a decade-high of 0.81. The euro and yen are not far behind with gains of...
The USD/CHF pair attempted to recover from recent losses recorded in the previous session, trading around 0.8160 during the Asian trading hours on Thursday (4/17). However, the pair remained close to the 0.8099 mark—its lowest level since September 2011, touched on April 11. The US dollar (USD) continued to face headwinds as investor uncertainty persisted over the unpredictable nature of US trade and economic policies. In contrast, the Swiss franc (CHF) was supported by safe-haven inflows, further pressuring the USD/CHF pair. Tensions escalated after US President Donald Trump launched an...
Oil prices extended gains on Thursday on the prospect of tighter supplies after Washington imposed more sanctions to curb Iran's oil trade and as some OPEC producers pledged more output cuts to offset pumping above agreed quotas. Brent crude futures rose 55 cents, or 0.8%, to $66.40 a barrel by 0321 GMT, and U.S. West Texas Intermediate crude futures were at $63.13 a barrel, up 66 cents, or 1.1%. Both benchmarks closed 2% higher on Wednesday at their highest since April 3 and were on track for their first weekly gain in three weeks. Thursday is the last settlement day in the week ahead of...
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....