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...
Oil prices rose around 1% on Friday and were set for their first weekly gains since mid-April as a U.S. trade deal with United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing. Brent crude rose by 61 cents, or 1%, to $63.45 a barrel by 12:29 p.m. ET (1629 GMT). U.S. West Texas Intermediate crude was up 57 cents, or about 1%, at $60.48. Week-over-week, both benchmarks were on track to rise about 4%. U.S. President Donald Trump said on Friday that China should open up its market to the United States and that 80% tariffs on Chinese goods...
Gold rose over 1% on Friday as the dollar ticked lower, while the market digested recent tariff remarks from U.S. President Donald Trump ahead of a weekend meeting between the U.S. and China. Spot gold was up 0.8% to $3,332.88 an ounce at 0919 ET(13:18 GMT) and gained nearly 3% so far this week. Bullion, known as a hedge against geopolitical and economic uncertainties has risen more than 27% since the start of the year. U.S. gold futures were up 1% to $3,338.10. The U.S. dollar edged 0.3% lower, making bullion less expensive for other currency holders. U.S. President Donald Trump said...
Oil prices rose more than 1% on Friday, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and Britain announced its own U.S. trade deal. Brent crude firmed by $1.19, or about 1.9%, to $64.03 a barrel by 1021 GMT. U.S. West Texas Intermediate crude was up $1.21, or about 2%, at $61.12. On the week, both contracts were on track to rise more than 4%. Oil prices rose more than 1% on Friday, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and...
Silver prices steadied around $32.50 per ounce on Friday, following a volatile week as investors adopted a cautious stance ahead of high-stakes US-China trade negotiations scheduled for this weekend in Switzerland. The upcoming talks will see Chinese Vice Premier He Lifeng meet with US Treasury Secretary Scott Bessent , as both sides seek to ease escalating tariff tensions. The market is closely watching for any signals of de-escalation that could impact the broader commodity landscape. Meanwhile, US President Donald Trump announced a preliminary trade deal with the UK—the first since the...
Gold (XAU/USD) prices turned positive after an intraday dip to $3,275-3,274 region as geopolitical risks emanating from the Russia-Ukraine war, rising tensions in the Middle East, and the India-Pakistan border revived safe-haven demand. Additionally, a modest US Dollar (USD) pullback from near one-month highs touched on Friday turned out to be another factor that acted as a tailwind for the commodity. With the intraday move higher, the XAU/USD pair, for now, seems to have snapped two consecutive days of losing streak, though its upside potential seems limited. The optimism led by the US-UK...
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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