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 plunged the most in a month as key market indicators pointed to weakness and OPEC said global crude supply was outpacing demand faster than anticipated. West Texas Intermediate crude fell more than 3%, erasing three sessions of gains. The US benchmark's near-term futures briefly traded in a so-called bearish contango structure—meaning oil prices are currently cheaper than contracts for delivery further out—for the first time since February, a new sign of a long-anticipated oversupply. OPEC revised its estimate for the global oil market to a surplus in the third quarter from a...
The US currency remained near a five-month high after US employment data posted a surprising increase, with private sector employment increasing by about 42,000 in October, exceeding economists' expectations of 28,000. This increase reinforces the market's belief that the Federal Reserve (the Fed) will pause or delay its monetary policy stance, making the dollar attractive relative to other currencies. However, the dollar is not completely unhindered. US consumer sentiment fell to a three-year low due to the prolonged government shutdown and concerns about a weakening labor market. This...
Gold (XAU/USD) trades little changed on Wednesday, consolidating gains near a three-week high as investors adopt a wait-and-see approach ahead of a crucial US congressional vote to end the record-long government shutdown. At the time of writing, XAU/USD is trading around $4,130, with market participants staying on the sidelines amid subdued risk appetite. The US House of Representatives is set to vote later on Wednesday on a stopgap funding bill aimed at reopening the government and ending the record-long shutdown. The proposal would keep most federal agencies funded through January 30,...
Oil prices fall, markets look to US government reopening Oil prices fell nearly 1% on Wednesday, weighed down by oversupply in the market, while expectations that an end to the longest-ever U.S. government shutdown could boost oil demand curbed losses. Brent crude futures slipped 60 cents, or 0.9%, to $64.56 a barrel by 1007 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was down 62 cents, or around 1%, at $60.42 a barrel, after climbing 1.5% in the previous session. "Overall, both WTI and Brent remains well and truly stuck, with short term speculative trading...
Silver slipped to around $51 per ounce on Wednesday, but stayed close to three-week highs as signs of US labor market weakness fueled expectations for a near-term Federal Reserve rate cut. ADP data showed US private employers shedding an average of 11,250 jobs per week in the four weeks ending October 25, painting a bleak picture amid the absence of official data. Markets now price in about a 68% chance of a 25 bps rate cut in December, up from roughly 62% a day earlier. Earlier this week, Fed Governor Stephen Miran also called for a larger half-point reduction amid falling inflation and...
Global silver prices have declined recently, following a major rally at the beginning of the year. One of the main factors is profit-taking—meaning investors who previously bought during the high price are now starting to take profits and sell. In addition, slightly improving global economic conditions have led to a slight decrease in demand for safe-haven assets like silver. Meanwhile, the supply of silver from mining and recycling has not seen a significant increase, creating uncertainty for market participants. Although prices are falling, this does not mean silver's long-term prospects...
Gold rises in the morning Asian session amid prospects of Fed rate cuts, which would enhance the appeal of the non-interest-bearing precious metal. Payrolls firm ADP estimated that the U.S. private sector was shedding 11,250 jobs a week in the four weeks through Oct. 25. Economic figures from alternative sources, like ADP's, have taken on greater weight during the government shutdown. The recent weaker U.S. economic data make a Fed rate cut in December more likely, Commerzbank Research's Carsten Fritsch says in a note. "It is obviously expected that a significant slowdown in the U.S....
Oil steadied following a three-day gain ahead of reports that'll shed light on the outlook for global crude market balances into 2026. West Texas Intermediate held near $61 a barrel, after rising 1.5% on Tuesday, while global benchmark Brent closed above $65. Later Wednesday, producers' alliance OPEC is due to issue its monthly market analysis, while the International Energy Agency releases its annual energy outlook. Crude has lost ground this year amid concerns that the market is headed for a surplus, with OPEC and allies including Russia restoring capacity, while drillers...
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....