Oil prices fell 1.5% on Tuesday, boosted by concerns about a supply glut after Iranian and U.S. delegates made some progress in their talks and expectations that OPEC+ will decide to raise output at a meeting later this week. Brent crude futures were down 99 cents, or 1.5%, at $63.73 a barrel by 1457 GMT. U.S. West Texas Intermediate crude was down $1.02, or about 1.7%, at $60.48 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree...
Gold fell for a second straight session on Tuesday, as risk sentiment improved following U.S. President Donald Trump's decision to delay tariffs on the European Union. Spot gold fell 1.2% to $3,302.10 an ounce by 2:03 p.m. ET (1802 GMT) after rising nearly 5% last week. U.S. gold futures settled 1.9% lower at $3,300.40. "There's a lot of volatility in gold prices because we keep getting changes on tariffs. Right now, the market is probably under the impression that there's a deal to be reached and that's weighing on gold," said Bart Melek, head of commodity strategies at TD Securities. A...
Oil prices fell 1% on Tuesday as investors worried about a supply glut after Iranian and U.S. delegates made progress in their talks and expectations that OPEC+ would decide to raise output at a meeting this week. Brent crude futures settled down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate crude fell 64 cents, or about 1.04%, to $60.89 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree on a further...
The EUR/USD pair dipped below 1.1400 for the second straight day, boosted by the recovery of the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, weak inflation data in France weakened the common currency, which was trading on Tuesday at 1.1335, down more than 0.40%. Risk appetite improved as market participants digested news that US President Donald Trump said trade talks between the United States (US) and the European Union (EU) were gaining strength following his threat of 50% tariffs last Friday. Although he backed off, leaving some room for negotiations, it...
Gold edged up after a two-day decline, as markets remained in wait-and-see mode despite data showing improving economic sentiment and signs of progress in trade talks. Bullion prices were trading near $3,309 an ounce after falling 1.3% on Tuesday as U.S. consumer confidence rose sharply in May from a near five-year low, signaling a more positive outlook for the economy and labor market. The dollar rose after the data, making bullion more expensive for most buyers. Investors also weighed improving trade relations between Washington and Brussels, with U.S. President Donald Trump saying he...