OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
The dollar rose in early Asian trade on Monday after weekend talks between the United States and China eased fears of a trade war between the world's two largest economies while global hot spots appeared to cool. The dollar, government bonds and equities have been battered since massive tariffs announced by US President Donald Trump last month shook confidence in American assets. After talks in Geneva, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said Sunday a deal had been reached with China to cut the US trade deficit. More details are expected on Monday....
Gold prices fell in Asian trade, dragged down by weaker safe-haven demand triggered by weekend developments. Officials from the U.S. and China concluded their trade talks over the weekend, with Beijing saying the two sides agreed to begin a formal negotiation process and Washington touting progress toward a deal. Also, India and Pakistan on Saturday agreed to a ceasefire after what President Trump described as a U.S.-brokered deal. Profit-taking could halt gold's rally, but it could also boost consumers, the World Gold Council said in a recent commentary. Spot gold was down 1.3% at...
Oil edged higher after the US and China reported "substantial progress" in two days of talks aimed at easing a trade war, signaling a possible resolution of the conflict that has threatened demand in the world's two largest crude consumers. Brent rose above $64 a barrel, after last week posting its first weekly gain in three, while West Texas Intermediate neared $61. After two days of negotiations in Geneva, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said they were optimistic about progress and would share more information on Monday, with their Chinese...
Gold price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338. Wall Street registers losses as traders brace for the meeting between the China and US delegations in Switzerland on Saturday. Although expectations are high that the trade war sustained by both countries could de-escalate, investors remained cautious ahead of the talks. US President Donald Trump said...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, reverses sharply on Friday after hitting a near one-month high of 100.86 earlier in the day. Disappointment surrounding the so-called US-UK trade deal weighed heavily on the Greenback, with investors focusing on this weekend's critical trade negotiations between the United States and China in Switzerland. US Dollar softens ahead of key talksThe US-UK trade deal is being written off by markets as non-substantive, with US tariffs on UK goods remaining at 10%.Market focus shifts to US-China...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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