Crude oil futures fell slightly on Friday (November 28th) as investors weighed the geopolitical risk premium on oil amid protracted Russia-Ukraine peace talks, while keeping an eye on Sunday's OPEC+ meeting for clues on potential production changes. US West Texas Intermediate crude futures resumed trading after being frozen due to a system outage at exchange operator CME Group, caused by a cooling issue at its CyrusOne data center. Brent is traded on the Intercontinental Exchange, or ICE. Brent crude futures for January, which expire on Friday, closed down 14 cents, or 0.22%, at $63.20 per...
World oil prices held steady near their lowest levels in a month on Wednesday morning, after being pressured by positive developments in the Ukraine-Russia peace talks. West Texas Intermediate (WTI) held around US$58 per barrel after falling 1.5% on Tuesday, while Brent was just above US$62 per barrel. Market concerns persist that if a peace deal is reached, restrictions on Russian oil could be eased just as the global market is already facing the risk of oversupply. US President Donald Trump stated that only "a few points of difference" remain in the negotiations and that he has sent back...
Oil fell as signs of progress in peace talks between Ukraine and Russia buoyed expectations that Moscow's supply will stay online. West Texas Intermediate futures fell 1.5% to settle near $58 a barrel, the lowest in a month, as talks to end the war in Ukraine show signs of progress. Crude had dropped sharply earlier in the session after ABC News reported Kyiv agreed to the terms of a revised peace deal aimed at ending Russia's nearly four-year war. Ukraine's President Volodymyr Zelenskiy said talks on a peace plan are continuing with the US. There are...
Gold prices edged higher on Tuesday (November 25) as weaker-than-expected US retail sales data reinforced traders' expectations that the Federal Reserve will cut interest rates in December. Spot gold rose 0.3% to $4,150.09 an ounce at 12:16 p.m. EST (1716 GMT). Gold prices earlier in the day hit their highest level since November 14, and rose nearly 2% on Monday after several US central bank policymakers signaled support for a third rate cut this year at their December 9-10 meeting. US gold futures for December delivery rose 1.3% to $4,147 an ounce. "There were renewed expectations for a...
Oil prices fell sharply and the broader market plunged, with signs of progress in peace talks between Ukraine and Russia bolstering expectations that Moscow's supplies would remain available. West Texas Intermediate crude futures fell as much as 2.6% in New York as equities weakened, led by a decline in major technology stocks. The commodity fell earlier after ABC News reported that Kyiv had agreed to the terms of a revised peace deal aimed at ending Russia's nearly four-year war in the country. Ukrainian President Volodymyr Zelenskiy said negotiations on a peace plan with the US were...
Gold prices were relatively stable on Tuesday (November 25th), as weaker-than-expected US retail sales data reinforced traders' expectations that the Federal Reserve will cut interest rates in December. Gold edged down 0.2% to $4,130.85 an ounce at 9:36 a.m. ET (14:36 GMT). Gold prices earlier in the day hit their highest level since November 14th, and rose nearly 2% on Monday after several Fed policymakers signaled support for a third rate cut this year. US gold futures for December delivery rose 0.8% to $4,127.40 an ounce. "There were renewed expectations for a December rate cut based...
The US Dollar (USD) remains under pressure in the early American session on Tuesday. At the time of press, the USD Index was down 0.2% on the day at 99.97. With the US Government open again after a 43-day shutdown, federal agencies are scrambling through a backlog of data to deliver a stream of delayed macroeconomic releases. The focus today is on September's US Retail Sales report. The latest reference, released more than two months ago, showed a strong increase in retail consumption, with a 0.6% monthly gain beating market expectations and easing concerns about the deterioration of the...
Oil prices eased on Tuesday as oversupply concerns outweighed worries that Russian shipments will remain under sanctions as talks to end the Ukraine war remain inconclusive. Brent futures were down 33 cents, or 0.5%, at $63.04 a barrel by 1146 GMT. West Texas Intermediate (WTI) crude declined 32 cents, or 0.5%, to $58.52. Both crude benchmarks gained 1.3% on Monday as rising doubts about a peace deal to end the Russia-Ukraine war reduced expectations for the unfettered flow of Russian crude and fuel supplies, which are under sanctions from Western nations. Even as market participants...
Silver rose above $51 per ounce on Tuesday, hitting an over one-week high as dovish comments from Federal Reserve officials strengthened expectations for a near-term interest rate cut. Fed Governor Christopher Waller expressed support for a December reduction, citing rising labor market risks and echoing remarks from San Francisco Fed President Mary Daly and New York Fed President John Williams. Waller also noted that policy moves next year would depend heavily on a backlog of delayed data caused by the government shutdown. Markets now price in an 81% chance of a 25 basis point cut next...
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....