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...
Global oil prices are on track for their deepest annual decline since the 2020 pandemic. The main pressure comes from market concerns about a large supply surplus, which is expected to continue to cloud trade well into the new year. The US benchmark, West Texas Intermediate (WTI), fell below US$58 per barrel, down nearly 20% so far this year. Meanwhile, Brent for March delivery remained around US$61 per barrel. In the short term, market participants' attention is focused on the OPEC+ meeting scheduled for January 4th. Furthermore, negative US oil industry reports have weighed on sentiment....
Oil was steady after a choppy session on Tuesday as investors weighed dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen. Brent crude futures for February delivery , which expire on Tuesday, settled down 2 cents, or 0.03%, at $61.92 a barrel. U.S. West Texas Intermediate crude settled down 13 cents, or 0.22%, at $57.95. On Monday, both benchmarks settled more than 2% higher as Saudi Arabia launched airstrikes against Yemen and after Moscow accused Kyiv of targeting a Russian presidential residence, denting hopes of a peace...
The precious metal recovered on Tuesday (December 30) after a sharp fall in the previous session, as markets refocused on geopolitical and economic risks, reviving gold's rally to close out its best year since 1979. Spot gold prices rose 0.8% to $4,365.86 an ounce at 9:56 a.m. ET (1456 GMT). On Monday, gold posted its biggest daily percentage drop since October 21 as profit-taking pushed it down from Friday's record high of $4,549.71. U.S. gold futures rose 0.8% to $4,380.10. "We saw some pretty extreme volatility yesterday where we saw strong action in Asian trading to the upside and then...
Oil prices remained firm as traders weighed geopolitical tensions from Venezuela to Russia and Yemen against concerns about a global oversupply. West Texas Intermediate (WTI) prices reached over $58 per barrel in quiet trading ahead of the holidays. The United Arab Emirates said it would withdraw troops from Yemen after escalating tensions with its oil-rich ally, Saudi Arabia, over military operations in the conflict-torn country. At the same time, President Donald Trump's efforts to end the war in Ukraine faced a new obstacle after Russia's Vladimir Putin said he would revise his...
Gold prices rebounded after being under pressure in the previous session. This increase occurred as investors sought safe havens amid ongoing global uncertainty. A cautious market ahead of the release of the Federal Reserve minutes has led to renewed interest in gold as a hedge. The main sentiment stemmed from expectations that the Fed would be less aggressive going forward. The prospect of lower interest rates has diminished the appeal of the US dollar, making non-yielding gold more attractive. Furthermore, geopolitical tensions in various regions have boosted demand for gold as a safe...
Silver rose by over 1% to $73 per ounce on Tuesday, following an 8% slump in the previous session, which marked the steepest daily drop in over five years, as traders booked profits. Markets continued to monitor geopolitical developments, with uncertainty persisting as tensions in the Russia-Ukraine conflict lingered after reports of a suspected Ukrainian drone incident near President Putin's residence, while negotiations between the two sides continue amid unresolved issues. Separately, the United States signaled possible further strikes on Iran if nuclear and missile programs advance,...
The USD/CHF pair fell to around 0.7880 in Asian trading on Tuesday (December 30), reversing the previous two days' gains. This movement came as investors awaited the Swiss Federal Open Market Committee (KOF) key indicator, which could provide insight into future economic activity trends. The Swiss franc is likely to be supported by demand for safe-haven assets amid global uncertainty. Tensions have escalated due to the Ukraine-Russia conflict, Saudi airstrikes in Yemen, and Iran's warning of a "full-scale war" with the US, Europe, and Israel. Trump's statement about the possibility of...
Global gold prices fluctuated in today's trading, as investors weighed various economic factors and global market sentiment. Although gold is often seen as a safe haven amidst turmoil, its price is currently under pressure from profit-taking and a decision by futures exchanges to raise margin requirements for precious metals trading. This has led some market participants to sell back after the previous strong rally. One fundamental factor influencing gold's movement is expectations regarding interest rate policy and the monetary policies of major central banks like the Fed. When there is a...
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....