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...
Silver fell nearly 1% to around $33.3 per ounce on Thursday in a likely technical correction after surging more than 3% in the previous session to a three-week high. The white metal continued to diverge from gold, reflecting its hybrid nature as both a precious and industrial metal—making it more sensitive to shifts in macroeconomic sentiment and trade developments. Recent market moves were shaped by evolving U.S.-China trade signals. While the Trump administration is reportedly considering tariff cuts pending talks with Beijing, China has conditioned its participation on a pause in U.S....
Oil prices recovered some losses on Thursday after falling nearly 2% in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing U.S.-Iran nuclear talks. Brent crude futures were up 53 cents, or 0.8%, to $66.65 a barrel at 0706 GMT, while U.S. West Texas Intermediate crude was up 55 cents, or 0.88%, to $62.82 a barrel. Prices had settled down 2% in the previous trading session after Reuters reported that several OPEC+ members would suggest the group accelerate oil output increases for a second month...
The U.S. dollar eased on Thursday, surrendering some of the previous day's big gains after U.S. President Donald Trumpbacked down from threats to fire the head of the Federal Reserve and appeared to soften his stance on China. It caught an extra boost when Treasury Secretary Scott Bessent said the U.S. did not have a specific currency target in mind, ahead of talks with his Japanese counterpart. Bessent has also said the current de facto embargo on U.S.-China trade was unsustainable, while cautioning that the U.S. would not move first in lowering its levies of more than 100% on Chinese...
Gold price (XAU/USD) retreats around $50 from the daily swing high and trades just below the $3,320 level heading into the European session, still up for the first time in three days. US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff, which, in turn, helps revive demand for the safe-haven bullion. Apart from this, the growing acceptance that the Federal Reserve (Fed) will resume its rate-cutting cycle soon and the emergence of some US Dollar (USD) selling turns out to be other factors lending support to the non-yielding Gold...
Gold price (XAU/USD) trims a part of intraday gains, though it retains positive bias for the first time in three days and holds comfortably above the $3,300 mark through the Asian session on Thursday. Hopes for a possible US-China trade deal, along with easing fears about the Federal Reserve's (Fed) independence, remain supportive of a positive risk tone. This, in turn, is seen as a key factor acting as a headwind for the safe-haven bullion. Meanwhile, US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff. Apart from this, a modest...
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.
In...