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 rose by about $1 on Tuesday (November 11), boosted by the impact of the latest US sanctions on Russian oil and optimism over a potential end to the US government shutdown, although oversupply concerns capped gains. Brent crude futures closed up $1.10, or 1.72%, at $65.16 a barrel. US West Texas Intermediate crude rose 91 cents, or 1.51%, to $61.04 a barrel. Investors continue to monitor the impact of US sanctions on Russia and their impact on crude and refined fuel markets. Russia's Lukoil (LKOH.MM), opens a new tab, declared force majeure at an Iraqi oilfield it operates,...
Gold prices hit a nearly three-week high on Tuesday (November 11), boosted by expectations that a potential end to the US government shutdown and a restart of economic data could pave the way for the Federal Reserve to cut interest rates next month. Spot gold prices rose 0.3% to $4,126.77 an ounce at 3:13 p.m. ET (2013 GMT), after earlier hitting their highest level since October 23. US gold futures for December delivery fell 0.1% to $4,116.30 an ounce. Gold, traditionally considered a safe-haven asset, also tends to benefit in a low-interest-rate environment because it is a non-yielding...
Gold shed gains as traders weighed the prospect of an end to the US government shutdown and weak jobs data. The record-breaking 42-day government shutdown is set to end soon after the Senate passed a stopgap funding measure supported by eight centrist Democrats. The reopening of the government now hinges on the Republican-controlled House of Representatives, which plans to return to Washington on Wednesday. Meanwhile, US companies lost an average of 11,250 jobs per week in the four weeks ending October 25, according to data released Tuesday by ADP Research. The figures suggest the labor...
Crude oil prices rose as signs of a weakening crude market were offset by soaring premiums for fuels like gasoline and diesel. West Texas Intermediate crude rose as much as 1.5% to $61 a barrel, posting a third straight day of gains. In addition to rising fuel premiums, technical traders known as commodity trading advisors could potentially spur additional buying in the coming days, according to consultancy Energy Aspects. "A larger CTA buying trigger above $64.50 tilts the balance of risks to the upside," said James Taylor, head of quantitative services at Energy Aspects. However,...
Tonight, the greenback weakened amid global optimism and hopes for an end to the US government shutdown. The US dollar (USD) came under pressure again in Tuesday evening's Asian trading, as market confidence grew that the Federal Reserve (The Fed) would cut interest rates sooner than expected. Positive sentiment regarding the prospect of an end to the US government shutdown also prompted investors to shift to riskier assets. The dollar index (DXY) fell to around 99.5, near a three-month low. This weakening occurred after a series of statements by Fed officials emphasized that the next...
Brent crude oil futures fluctuated between small gains and losses at around $64 per barrel on Monday, as traders awaited fresh reports on a possible global oil surplus. OPEC will release its monthly outlook Wednesday, alongside the IEA's annual forecast, which already projects a record glut for 2026. A monthly update from the IEA follows on Thursday. Crude has struggled this year, weighed down by expectations of oversupply as OPEC+ loosens production cuts while non-member producers keep adding barrels. Earlier this month, the alliance approved a 137,000 bpd increase for December, matching...
Silver surged on expectations of interest rate cuts Silver surged more than 5% to around $51 per ounce so far this week, supported by expectations of a near-term Federal Reserve rate cut amid signs of US economic weakness. US data last week pointed job losses in October, particularly in government and retail sectors, while consumer sentiment fell to a 3½-year low in early November. Traders are pricing in roughly a 64% chance of a 25-basis-point Fed cut in December, with Fed Governor Stephen Miran advocating a larger half-point reduction amid falling inflation and rising...
Silver prices (XAG/USD) have risen for three consecutive sessions and are hovering around $50.90/oz in Asia this morning. This "non-interest-bearing" metal is gaining traction as US economic uncertainty heightens expectations of a Fed interest rate cut. Fed Governor Stephen Miran's comments to CNBC that inflation is starting to ease—even opening up the option of a 50 bps cut in December (or at least 25 bps)—have further strengthened silver's bullish sentiment. Less than favorable data has also added fuel: October job losses (especially in the government and retail sectors) and consumer...
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....