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...
Brent oil prices strengthened on Friday (September 12th), with the last price recorded at $66.54 per barrel. This increase reflects positive sentiment in the energy market amid expectations of an interest rate cut by the Federal Reserve, which could boost global demand growth. Furthermore, market participants are also monitoring geopolitical developments in the Middle East and Europe, which are adding to concerns about potential supply disruptions. Although bullish sentiment dominates, investors remain cautious about the prospect of oversupply after OPEC+ announced plans to gradually...
Oil prices weakened again in Asian trading despite initial support from geopolitical issues. Brent fell to $65 per barrel and WTI to $61, pressured by the IEA's projection that global production will surge to 2.7 million barrels per day in 2025. Concerns about sluggish demand in the US also reinforced signals that the market could face a supply glut in the near future. Although expectations of a Fed interest rate cut weakened the dollar and gave oil prices some room to recover, pressure remains dominant. The US push for the G7 to impose higher tariffs on buyers of Russian oil, particularly...
Gold prices continue to approach $3,650 per ounce and are poised for a fourth weekly gain. This was fueled by expectations that the Federal Reserve will cut US interest rates, as inflows into gold-backed ETFs increased. Silver also rallied, reaching $42 per ounce—its highest level since 2011. Market sentiment was supported by US consumer inflation data for August that met expectations, giving the Fed room to lower borrowing costs after previous labor market data showed weakness. Market participants now expect at least one 25 basis point interest rate cut at next week's Fed meeting, with the...
Silver remains high at $41/oz after US data (benign CPI, rising jobless claims) strengthened the case for a 25 bps Fed rate cut next week—weakening the dollar and supporting the precious metal. The industrial demand environment (particularly PV/electrification) maintains a positive bias.Technically, the $41 area provides initial support; a break above $42 opens the door to $42.50. Failure to hold could lead to a correction to $40.50–$40.00 before buying interest resurfaces. (ads)The silver price at the time of writing was $41,431/Toz.DISCLAIMERNote: This article is for analytical purposes...
Gold prices weakened on Thursday (September 11th) after hitting a new record earlier this week. Selling pressure emerged as the US dollar strengthened and bond yields rose, reducing the precious metal's appeal as a hedge. Investors tended to take profits ahead of the release of US consumer inflation data, which could determine the direction of the Fed's interest rate policy. Despite the correction, the medium-term outlook for gold remains relatively positive, especially if the US central bank signals a more aggressive interest rate cut at its upcoming meeting. Global geopolitical...