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 US dollar index dropped over 1% to 101.5 on Thursday, hitting a six-month low as softer inflation data and easing trade tensions weighed on the currency. Core CPI rose just 2.8% year-on-year — the slowest pace since March 2021 — easing fears that the ongoing tariff battle will severely harm the US economy. This came alongside President Trump's decision to suspend higher tariffs on most US trade partners for 90 days, though China still faces a steep 125% rate. The US continues to apply a 10% baseline tariff broadly, with exemptions for key sectors like semiconductors, pharma, and...
Brent crude oil futures dropped over 2% to below $64 per barrel on Thursday, after a 4.2% gain in the previous session, as escalated trade tensions between the US and China reignited demand concerns. President Trump increased tariffs on China to 125%, just a day after a 104% hike took effect. While he paused new tariffs on other countries for 90 days, the sharp escalation with China, the world's top oil importer, sparked worries about weaker fuel demand. China raised its tariffs on US goods to 84% and is expected to unveil stimulus measures to support sectors like housing and consumption....
Gold futures rise, benefiting from market uncertainty. Futures are up 1.6% at $3,127.20 a troy ounce, nearing its all-time record of $3,201.60 an ounce, set in early April. The precious metal was sharply sold off as investors liquidated positions to cover losses elsewhere after President Trump's "Liberation Day" tariff announcements, but has since mounted a strong rally on the ensuing uncertainty. Trump hiked Chinese tariffs to 125% on Wednesday and announced a 90-day suspension of the so-called reciprocal tariffs for other countries, adding to the confusion and further boosting safe-haven...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades in negative territory for the third consecutive day near 102.70, down 0.28% on the day. Investors will keep an eye on the US March Consumer Price Index (CPI) inflation and weekly Initial Jobless Claims reports, which are due later on Thursday. The Greenback edges lower after US President Donald Trump ramped up his trade war against China while temporarily pausing tariffs on many other countries for 90 days. "It seems likely that the U.S. President blinked...
Silver prices rose above $31 per ounce on Thursday, extending gains for a second session as commodities rebounded after Trump's reversal on his reciprocal tariff policy. Trump dropped new tariff rates on imports from most US trade partners to 10% for 90 days to allow for trade negotiations. However, top consumer China remains subject to a steep 125% tariff amid continued tit-for-tat escalations between Washington and Beijing—maintaining a level of geopolitical and economic uncertainty that continues to support safe-haven demand. Meanwhile, minutes from the latest FOMC meeting revealed that...
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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