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 are headed for their biggest weekly gain since June after the US imposed sanctions on major Russian producers Rosneft and Lukoil, potentially disrupting supply and shifting demand to alternative grades. Brent oil hovered near $66 per barrel after surging 5.4% in the previous session, while WTI held below $62. Russian oil flows to India are expected to plummet due to the sanctions, while the impact on Chinese purchases remains unclear. President Donald Trump plans to raise the issue of China's purchases of Russian oil when he meets with President Xi next week. Russia may offer...
The USD/JPY pair extends the rally to a two-week high near 152.65 during the early Asian session on Friday. The Japanese Yen (JPY) weakens against the US Dollar (USD) as traders weigh fresh US sanctions on Russian oil companies. Traders await the delayed release of US Consumer Price Index (CPI) inflation data, which is due later on Friday. Data released by the Statistics Bureau of Japan on Friday showed that Japan's National CPI rose by 2.9% YoY in September, compared to the previous reading of 2.7%. Meanwhile, the National CPI ex Fresh food arrived at 2.9% YoY in September versus 2.7%...
Gold falls in early Asian trade on likely further unwinding of long positions, analysts say. "Our gold analysis suggests moderate further downside may be on the cards," says Fawad Razaqzada, market analyst at City Index and FOREX.com, in commentary. While gold managed to recently bounce near support around the $4,000/oz-$4,022/oz range as expected, this doesn't necessarily mean the bearish move has already ended, the analyst says. If gold closes below $4,000/oz, it would be a bearish technical development, the analyst adds. Spot gold is 0.4% lower at $4,109.32/oz. Source: Dow Jones Newswires
Oil prices surged about 5% to a two-week high on Thursday (October 23rd) after the US imposed sanctions on major Russian suppliers Rosneft (ROSN.MM) and Lukoil (LKOH.MM) over Moscow's war in Ukraine, prompting energy companies in China and India to consider reducing Russian imports. Brent crude futures rose $3.40, or 5.4%, to $65.99 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $3.29, or 5.6%, to $61.79. The daily percentage gains were the largest for both crude contracts since mid-June and the highest close since October 8th. "The announcement of US sanctions against...
Gold prices rose more than 1% on Thursday (October 23rd) after two consecutive sessions of declines, as resurgent geopolitical risks boosted demand for safe-haven assets and investors prepared for key US inflation data due on Friday. Spot gold rose 1% to $4,132.76 an ounce, as of 1:49 p.m. ET (1748 GMT), after falling to a near two-week low in the previous session. US gold futures for December delivery closed 2% higher at $4,145.60 an ounce. Prices hit a record high of $4,381.21 on Monday, but posted their sharpest decline in five years in the following session. GOLD VALUES JUMP THIS...
Gold prices rose more than 1% on Thursday (October 23rd) after two consecutive sessions of declines, as resurgent geopolitical risks boosted demand for safe-haven assets and investors prepared for key US inflation data due on Friday. Spot gold rose 1.4% to $4,149.39 an ounce, as of 11:05 a.m. ET (15:05 GMT), after falling to a near two-week low in the previous session. US gold futures for December delivery rose 2.5% to $4,165.80 an ounce. Prices hit a record high of $4,381.21 on Monday, but posted their sharpest decline in five years in the following session. GOLD VALUES JUMP THIS...
Oil prices surged after the US announced sanctions on Russia's largest oil companies, threatening supplies from one of the world's largest oil producers. West Texas Intermediate crude jumped 6.2% to trade above $61 per barrel, heading for its biggest one-day gain since the start of the Israel-Iran conflict on June 13. The US blacklisted Russian oil giants Rosneft PJSC and Lukoil PJSC in an attempt to cut off revenues needed for Russia's war in Ukraine. Senior refinery executives in India—a major buyer of Russian crude—said the restrictions would make it impossible for oil flows to...
Gold (XAU/USD) edges higher on Thursday, trading around $4,115, up nearly 0.40% for the day. Demand for safe-haven assets remains firm amid the prolonged budget deadlock in Washington and persistent geopolitical uncertainty. Expectations of further monetary easing by the Federal Reserve (Fed) continue to support the precious metal, with markets pricing in a 97% chance of a 25-basis-point rate cut next week, according to the CME FedWatch tool. Markets are treading carefully ahead of the September US Consumer Price Index (CPI) release, due Friday. This report will attract particular attention...
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....