Oil prices rose slightly on Monday in the American session (August 11) ahead of the Trump-Putin meeting in Alaska to discuss the Ukraine war, with the threat of tighter sanctions if peace fails. Brent prices are currently trading at $66.94 per barrel.
However, gains are being held back by abundant supply, including new production in Guyana, high supplies from South America, and UBS's projection of cutting its year-end Brent target to $62 per barrel.
Sentiment is also being weighed down by weak Indian demand, a potential pause in OPEC+ production increases, US import tariffs that could slow the global economy, and Chinese data showing a larger-than-expected decline in producer prices. These factors have kept oil price movements limited.
Brent oil prices at the time of writing were at $66.94 per barrel.
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id
Silver prices rose as risk sentiment improved in the market after signs emerged that the US government shutdown was nearing an end. These hopes pushed the US dollar slightly lower and increased intere...
Gold prices rose to $4,050 per ounce on Monday (November 10), driven by increased demand for safe-haven assets amid political uncertainty in the US. Investors are still awaiting a final agreement to e...
Silver prices rose on Friday (November 7th) due to a combination of two main factors: strong industrial demand, particularly from the technology and renewable energy sectors, and a worsening supply de...
Gold prices are currently rising due to increased demand as a hedge against geopolitical turmoil and uncertain monetary policy. For example, central bank gold purchases have grown significantly, and t...
Brent prices surged again on Friday (November 7th), fueled by escalating geopolitical tensions in the Middle East, which have raised concerns about global supply disruptions. However, demand remains w...
US stocks started the week strongly, with the S&P 500 rising 1.6%, the Nasdaq gaining 2.4%, and the Dow Jones Industrial Average rising about 415 points after the Senate approved a procedural move that brings a funding bill to reopen the...
Oil prices rose on Monday as analysts focused on potential fuel supply disruptions from new U.S. sanctions and Ukrainian drone attacks on Russian refineries, although predictions of a crude supply surplus kept prices steady. Brent crude rose 43...
Gold prices surged nearly 3% on Monday (November 10), hitting their highest level in more than two weeks, as weak U.S. economic data reinforced expectations that the Federal Reserve would cut interest rates, boosting demand for the non-yielding...
Global stock markets rallied at the start of the week amid growing optimism that the US government shutdown will soon end. S&P 500 futures rose...
China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of...
Slowing payroll growth in the U.S. is more likely the result of weaker demand for workers rather than reduced labor force from tightened immigration...
The U.S. Senate is expected to hold a test vote on a spending bill on Sunday evening to end the longest ever U.S. government shutdown, with ABC News...