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, currently hovering around US$59.80 per barrel, were boosted after US President Donald Trump ordered a total blockade of sanctioned Venezuelan oil tankers. This policy has heightened geopolitical tensions and resurfaced the risk of supply disruptions, despite Venezuela's relatively small global export contribution. The market believes a potential disruption of around 0.4–0.5 million barrels per day is sufficient to trigger a short-term rally, especially since prices previously fell to a five-year low.However, from a broader fundamental perspective, this price increase...
Silver prices posted strong gains on Wednesday (December 17th). This surge was driven by rising industrial demand, particularly in the solar energy, electric vehicle, and data center sectors, as well as strong investment demand amid expectations of a Fed rate cut and a weakening US dollar. Supply tensions also reinforced the bullish trend, as tighter physical inventories and a long-term supply deficit contributed to the price of this white metal. (alg) Source: Newsmaker.id
Brent oil prices stabilized below US$59 per barrel after several days of sharp declines. Market concerns about a global supply glut, driven by the return of production from OPEC+ and other producers, prevented prices from recovering despite geopolitical concerns from Venezuela. Investors are also monitoring global political and economic risks, including a potential peace deal in Ukraine that could ease Russian oil exports. These conditions have kept Brent on track for an annual decline, with market participants holding back while awaiting clearer supply and demand trends. (az)The oil price...
Silver prices moved within a limited range as investors weighed weak US employment data, which was not enough to fuel expectations of an imminent interest rate cut. The Federal Reserve's cautious stance has kept buying interest in silver from strengthening, although the precious metal remains supported by global economic uncertainty. On the other hand, the relatively stable US dollar and the lack of significant decline in bond yields have restrained silver's movement. The market is now awaiting the release of inflation data and statements from Fed officials to determine whether silver will...
Gold today tended to move slightly around $4,300/oz as the market "held its breath" after the release of US data and awaited the next trigger. Buyers are still present, but many traders are reducing risk due to the busy week ahead.Fundamentally, gold still has support from signals that the US labor market is cooling (unemployment is rising), which keeps the possibility of future interest rate cuts open—this is usually positive for gold. However, the rise could be restrained if news of Russia-Ukraine peace strengthens (safe havens are reduced) or if US inflation comes out higher and pushes...