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 extended last week's losses on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq. Brent futures were down 14 cents, or 0.2%, at $74.29 barrel by 0843 GMT, while U.S. West Texas Intermediate crude futures lost 21 cents, or 0.3%, to $70.19. Both Brent and WTI dropped by more than $2 on Friday, registering weekly declines of 0.4% and 0.5% respectively. All eyes remain on efforts to end Russia's war on Ukraine, which enters its fourth year on Monday. Officials said on Sunday that...
Gold prices moved in a flat-to-low range on Monday, remaining close to recent peaks as safe haven demand was boosted by increasing uncertainty over a U.S. economic slowdown and trade tariffs. The yellow metal clocked a series of record highs last week, benefiting from sustained haven buying after U.S. President Donald Trump threatened more trade tariffs. Concerns over a U.S. economic slowdown also fueled gold demand, especially following weak purchasing managers index and consumer sentiment readings on Friday. A drop in the dollar- on bets that a softer economy will spur more interest...
Silver price (XAG/USD) drifts higher to around $32.70 during the Asian trading hours on Monday. The weakening of the US Dollar (USD) provides some support to the USD-denominated commodity price. Furthermore, the uncertainty and concerns over US President Donald Trump's tariff plans might boost the safe-have flows, which contribute to Silver's upside. Silver prices rose recovering some of the losses from the previous session as the dollar came under pressure due to a deteriorating economic outlook in the US and a stronger euro. Ongoing trade and geopolitical uncertainties continued to fuel...
Oil prices slipped in Asia on Monday, extending losses from last week, on the prospect of a resumption of exports from Kurdistan's oilfields, while investors awaited clarity on talks to resolve Russia's war on Ukraine. Brent futures were down 14 cents, or 0.2%, at $74.29 barrel, as of 0441 GMT, while U.S. West Texas Intermediate crude futures lost 22 cents, or 0.3%, to $70.18 a barrel. Both Brent and WTI dropped by more than $2 on Friday, posting weekly declines of 0.4% and 0.5%, respectively. "The downward spiral in crude oil prices is driven by pressure from the U.S. president on Iraq...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, kicks off the new week on a downbeat note and drops to its lowest level since December 10 during the Asian session. The index is currently placed around the 106.25 area, with bears looking to build on weakness below the 100-day Simple Moving Average (SMA).Against the backdrop of the disappointing release of US Retail Sales figures, a disappointing sales forecast from Walmart raised doubts about US consumer health. Adding to this, data released on Friday fueled worries about the US growth outlook amid...
The dollar index dropped 0.4% to around 106.2 on Monday, reaching an 11-week low as the euro surged following the conservative victory in Germany's general election. Friedrich Merz, leader of Germany's conservative opposition, is now expected to form a coalition government aimed at pushing through fiscal reforms. The dollar has also been under pressure amid growing concerns about the US economy, which could prompt the Federal Reserve to cut interest rates further. Data released on Friday revealed that US business activity nearly stagnated in February, with services sector contraction...
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Monday, though it remains confined in a familiar range near the all-time peak touched last week. The uncertainty surrounding US President Donald Trump's trade tariffs and their impact on the global economy, along with the broader risk-averse theme, continues to act as a tailwind for the safe-haven bullion. Apart from this, geopolitical tensions and the underlying bearish sentiment surrounding the US Dollar (USD) turn out to be other factors that underpin the commodity. That said, expectations that the Federal Reserve...
West Texas Intermediate (WTI) Oil price edges higher to around $70.30 per barrel during Asian trading hours on Monday. However, crude Oil prices faced downward pressure amid expectations of resumed exports from Kurdistan's Oilfields.On Sunday, Reuters reported that an Iraqi Oil ministry official confirmed Iraq's plan to export 185,000 barrels per day (bpd) from Kurdistan's Oilfields via the Iraq-Turkey pipeline. The ministry stated that all necessary procedures had been completed to facilitate the resumption of exports through the pipeline. Meanwhile, traders remain focused on developments...
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....