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 was little changed in the final trading session of the week as traders weighed the first U.S. sanctions on Chinese imports of Iranian crude against the uncertain outlook for global growth. Brent crude futures fell slightly below $72 a barrel, erasing earlier gains, while still posting their biggest weekly gain since January. The U.S. sanctioned a small Chinese refiner and its chief executive for allegedly buying Iranian oil, as well as a terminal operator. The market structure for Middle East crude firmed after the news. The Trump administration's first intervention in the Asian...
Gold (XAU/USD) is facing a second day of losses while its weekly performance is still positive. The precious metal is trading around $3,030 at the time of writing on Friday (3/21) after hitting a new all-time high of $3,057 the previous day. The move down should not come as a surprise given the Quadruple Witching event. Quadruple Witching is an event in the financial markets when four different sets of futures and options contracts expire on the same day, and investors must decide whether to sell and buy back their positions or simply sell them. Meanwhile, on the geopolitical front,...
EUR/USD traded lower near a 10-day low of 1.0815 during the European session on Friday (3/21). The major currency pair faced selling pressure as the US Dollar (USD) strengthened after the Federal Reserve (Fed) stated that an interest rate cut is not on the cards in the current scenario. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, rose near 104.15. On Wednesday, the Fed kept interest rates unchanged at 4.25%-4.50% for the second consecutive day, as expected. Fed Chairman Jerome Powell said in a press conference that the central bank will...
Gold prices were on track for a third straight weekly gain on Friday, helped by the US Federal Reserve's hint of a rate cut this year and safe-haven demand amid geopolitical and economic uncertainty. Bullion prices hit an all-time high of $3,057.21 an ounce on Thursday and have gained about 1.5% so far this week. Spot gold was down 0.5% at $3,028.77 an ounce by 0700 GMT, weighed down by a stronger US dollar. US gold futures were down 0.3% at $3,035.70. "Gold prices traded slightly lower in Asia today as the US dollar strengthened across major currencies," said Kelvin Wong, senior market...
The US Dollar (USD) gathered bullish momentum and outperformed its rivals on Thursday. The USD Index, which tracks the USD's valuation against a basket of six major currencies, continued to move higher on Friday morning and remained in positive territory on the weekly chart. The economic calendar will not feature any high-impact data releases on Friday, and investors will be watching comments from Federal Reserve officials and US President Donald Trump. The USD benefited from the cautious market mood and upbeat data releases on Thursday. After rebounding on Wednesday, major equity indexes...
Silver fell over 1% to around $33 per ounce on Friday, hitting a one-week low as the US dollar rebounded. The dollar's strength came after Federal Reserve Chair Jerome Powell reaffirmed that the central bank is in no rush to cut interest rates further, despite signaling two potential rate reductions this year. Powell pointed to weakening economic growth and labor market concerns but maintained a cautious stance due to uncertainty surrounding US President Donald Trump's tariff policies and their impact on inflation. Adding to pressure on silver, lingering economic concerns in China dampened...
Gold price (XAU/USD) attracts fresh sellers during the Asian session on Friday and moves away from the all-time peak touched the previous day, though the downside potential seems limited. The US Dollar (USD) attracts buyers for the third successive day and is currently placed near the weekly high, which, in turn, is seen as a key factor exerting pressure on the commodity. Adding to this, bulls opt to take some profits off the table heading into the weekend, especially after the recent historic run. However, bets that the Federal Reserve (Fed) will resume its rate-cutting cycle should cap...
Oil prices rose on Friday, and were set for second consecutive weekly gains, as fresh U.S. sanctions on Iran and a new plan from the Organization of Petroleum Exporting Countries and its allies (OPEC+) to cut output raised bets on tighter supply. Brent crude futures climbed 21 cents, or 0.3%, to $72.21 per barrel by 0435 GMT. U.S. West Texas Intermediate crude futures were up 25 cents, or 0.4%, to $68.32 a barrel. On a weekly basis, both Brent and WTI were on track to rise about 2%, their biggest weekly gains since the first week of 2025. The United States Treasury on Thursday announced...
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....