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...
U.S. crude oil futures were roughly unchanged from post-settlement levels Tuesday despite the American Petroleum Institute reporting a large jump in weekly domestic crude stockpiles. Crude Oil WTI Futures, the U.S. benchmark, recently traded at $71.18 a barrel following the report after settling down 0.4% at $71.20 a barrel. U.S. crude inventories increased by 6.0M barrels for the week ended Mar. 28, compared with a draw of 4.6M barrels reported by the API for the previous week. Economists were expecting a build of just 1.2M barrels. Gasoline stockpiles decreased by about 1.6M barrels,...
Oil edged down as uncertainty about US President Donald Trump's tariff plans muddies the economic outlook. West Texas Intermediate futures fell 0.4% to settle above $71 a barrel, after gaining 3.1% on Monday. The S&P 500 also edged lower as Trump prepared to implement reciprocal tariff plans that have raised worries about the strength of the world's largest economy. Trump has also threatened so-called "secondary tariffs" on buyers of Russian oil, potentially hurting flows from one of the world's top three producers, before later softening his tone. Elsewhere, Iran's...
Gold prices eased on Tuesday on profit-taking but remained near record highs as investors turned to the safe-haven asset ahead of President Donald Trump's planned announcement of sweeping tariffs on countries that have a trade imbalance with the U.S. Spot gold was down 0.3% at $3,113.43 per ounce as of 1:46 p.m. ET (1746 GMT), after hitting an all-time high of $3,148.88 earlier in the day. U.S. gold futures settled 0.1% lower at $3,146. It's "not surprising to see a little bit of profit taking, particularly given that the market had become rather overbought ... I don't really see much of...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is falling flat after the US data release. Clearly, market participants are not fond of the Greenback at this moment amidst tariff uncertainty. Richmond Federal Reserve (Fed) Bank President Thomas Barkin said the economic reading is wrapped in a thick fog and is unclear for the Fed to read where rates should go, while recession fears are still on the table, CNBC reports. The economic data releases for this week could get things moving in the runup to the Nonfarm Payrolls data to be...
Oil steadied after President Donald Trump dialed back comments on Russia that triggered the biggest price jump since January, while markets count down to the arrival of tariffs. Brent crude for June traded below $75 a barrel, after the contract gained 2.8% on Monday. US equity futures retreated and gold extended its increase as traders awaited details on President Trump's reciprocal tariff plan, in what he has dubbed "Liberation Day." Trump also threatened so-called "secondary tariffs" on buyers of Russian oil, potentially hurting flows from one of the world's top three producers. But...
Gold prices hit an all-time high on Tuesday amid strong demand for safe havens driven by concerns that US retaliatory tariffs might fuel inflationary pressures and hinder economic growth. Spot gold rose 0.2% to $3,131.00 per ounce, after hitting a record high of $3,148.88 earlier in the session. Gold futures also gained to reach $3,158.50 per ounce. In the previous session, gold prices recorded their highest quarterly performance since 1986. "The anticipation of the April 2 US reciprocal tariffs has led market participants to lean towards a defensive stance, with some de-risking and...
Silver (XAG/USD) oscillates in a narrow trading band following the previous day's good two-way price moves, though it holds above the $34.00 mark through the Asian session on Tuesday. Moreover, the white metal remains close to a multi-month high, around the $34.60 area touched last Friday. Looking at the broader picture, the recent strong positive move witnessed since the beginning of 2025 has been along an upward-sloping channel. This points to a well-established short-term uptrend. Furthermore, oscillators on the daily chart are holding comfortably in positive territory and are still away...
Gold hit a record at the start of the new quarter as a major escalation in US President Donald Trump's trade tariffs due this week heightened concerns about the global economy and fanned haven demand. Bullion neared $3,150 an ounce, on pace for a fourth day of gains. Traders are on edge as Trump plans to announce sweeping levies on all of America's trading partners on Wednesday, raising the risks of retaliatory measures. The precious metal has been one of the strongest performing commodities this year, posting its best quarter since 1986 in the opening three...
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....