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...
Gold hit a record high after President Donald Trump imposed 25% tariffs on all U.S. steel and aluminum imports, adding to uncertainty across global markets that has boosted demand for precious assets. Bullion hit an all-time peak above $2,921 an ounce — after jumping 1.7% in the previous session. Trump said Monday that the levies, which take effect March 4, will help boost domestic production and bring more jobs to the U.S., and warned that tariffs "may go higher." The precious metal has surged 11% this year, hitting a series of records, as Trump's disruptive moves on trade and geopolitics...
Oil steadied after its biggest gain in nearly four weeks as tighter Russian crude supplies overshadowed concerns about the impact of President Donald Trump's expanded tariffs. West Texas Intermediate traded above $72 a barrel after rising nearly 2% on Monday, while Brent settled below $76. Russian data showed production last month fell further below the country's OPEC+ quota. Soaring European natural gas prices have also made burning oil more cost-effective, potentially boosting demand for crude. President Trump ordered 25% tariffs on steel and aluminum imports in a sign of a growing trade...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is trading softer near 108.30 as investors react to mixed economic data and fresh tariff concerns. Market participants are also turning their focus to Federal Reserve (Fed) Chair Jerome Powell's upcoming testimony before Congress for guidance on future interest rate policy. The US Dollar Index remains under pressure, struggling to hold above 108.00 as sellers continue to dominate. The Relative Strength Index (RSI) remains below 50, indicating growing bearish momentum, while the DXY holds...
Crude oil futures rose after three straight weeks of declines as the market shrugged off President Trump's announcement of tariffs on steel and aluminum imports to the U.S., while the dispute between Israel and Hamas over their cease-fire agreement revived some of the geopolitical risk premium that had recently been lost from the market. Israel's statement that Hamas violated the cease-fire by delaying the next planned hostage release added to the rally, said Robert Yawger of Mizuho. He noted that the rally came amid a build in U.S. crude stockpiles as refineries slowed for maintenance,...
President Trump's threats to impose or raise tariffs on trading partners around the world have sent traders into gold futures — with the front-month contract closing up 1.6% at $2,914.30 an ounce. That was a new record for front-month gold, breaking through the $2,900 barrier for the first time. Trump's latest threat, a 25% tariff on steel and aluminum shipped to the U.S., appears to have had a major impact on Canada and Mexico, with Canada selling about 60% of its aluminum imports to the U.S. But the market is uncertain whether that will be the case. "Recent events have taught us all to...
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, is not showing any reaction to the vast amount of headlines around tariffs that were published over the weekend. United States (US) President Donald Trump announced 25% steel and aluminum tariffs for all countries importing into the US. Also, plans for reciprocal tariffs are on the table, which would increase US import duties to match those imposed by the country's other trading partners. Meanwhile Gold, the precious metal, is printing fresh all-time highs almost every hour while trading...
Oil prices rose Monday, bouncing after three consecutive weekly declines despite US President Donald Trump's new tariff announcement on all steel and aluminum imports. At 08:10 ET (13:10 GMT), Brent Oil Futures rose 1.4% to $75.69 a barrel, while Crude Oil WTI Futures expiring in March gained 1.5% to $72.05 a barrel. Both contracts lost nearly 2% last week after a sharp jump in US crude stockpiles, fears about a global trade war, and Donald Trump's pledge to boost production. Trump signals levies on steel and aluminum imports The imposition of a 10% tariff on Chinese imports by the US...
Gold's price (XAU/USD) is jumping higher as buyers dig into the precious metal on Monday, printing several fresh all-time highs above $2,900 at the time of writing. The move comes after United States (US) President Donald Trump said he would announce "reciprocal tariffs" on many countries on Tuesday or Wednesday, adding to increasing uncertainty in global financial markets. On Sunday, US President Trump said a 25% levy would apply for all steel and aluminum imports into the US, but did not say when they would be applied. Meanwhile, traders will focus on Federal Reserve (Fed) Chair...
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....