Oil prices rose slightly in trading on Tuesday (January 20) after better-than-expected Chinese economic data boosted demand optimism. Brent crude rose 19 cents (0.3%) to $64.13/barrel, while February WTI which expires today rose 25 cents (0.4%) to $59.69/barrel. The more active March WTI contract also edged higher to around $59.42/barrel. This strengthening was driven by news from China, the world's largest oil importer. The Chinese economy reportedly grew 5.0% through 2025, meeting the government's target. Refinery activity also increased, with refinery throughput rising 4.1% and crude oil...
Gold prices strengthened again on Wednesday (November 19th) as investors sought safe-haven assets amid worsening risk sentiment. This increase was supported by weak US economic data, particularly labor market indicators, leading the market to re-increase expectations that the Federal Reserve will cut interest rates in December. The prospect of lower interest rates pressured US bond yields and bolstered the appeal of non-coupon gold. Source: Newsmaker.id
Oil prices fell slightly after a report showed a sharp rise in US crude stockpiles. Brent for January delivery was trading at around US$64.6 per barrel, while WTI for December was around US$60.4. Data from the American Petroleum Institute showed an increase in inventories of around 4.4 million barrels, which could push US oil stocks to their highest level in more than five months, although the market is also still monitoring the impact of Western sanctions on Russian producers Rosneft and Lukoil.Trendwise, oil has weakened this year due to concerns that global supply will exceed demand. The...
Gold prices weakened to around $4,060 per ounce on Wednesday, paring some of the gains recorded in the previous session. This movement occurred as investors opted for caution ahead of the release of two important data points from the United States: the minutes of the Federal Reserve's (FOMC) meeting, released today, and the employment report, due Thursday. Both releases are expected to provide clearer clues regarding the future direction of interest rates. Several delayed US economic data began to be released again after the government shutdown ended. Claims for unemployment benefits rose...
Silver gained slightly during the European session on Tuesday (November 18th), driven by safe-haven demand amidst the economy and investor confidence in the possibility of a Fed interest rate cut. Rising gold prices also supported silver, as many investors shifted part of their portfolios to the more affordable precious metal. Furthermore, fundamental factors are strengthening silver's momentum: continued strong industrial demand, particularly from the renewable energy and electronics sectors. Compared to other instruments, silver is now starting to attract interest from medium- to...
Brent crude oil fell on Tuesday (November 18th) due to concerns about a global oversupply. An IEA report shows that global oil production is expected to grow by around 3.1 million barrels per day in 2025, while demand growth remains slow. Furthermore, signals from OPEC+ that plans to increase production also add to the supply burden. On the other hand, despite geopolitical risks such as sanctions against Russia, the market is currently more focused on the fundamentals of supply and demand. Sanctions against Russia do create uncertainty, but they are not enough to offset the existing excess...