Brent crude oil futures rose from post-settlement levels Tuesday after the American Petroleum Institute reported a mix inventory report as weekly domestic crude inventories increased by more than expected, but product stockpiles including gasoline slipped. Crude Oil WTI Futures, the U.S. benchmark, recently traded at $62.04 a barrel following the report after settling up 0.1% at $61.73 barrel. U.S. crude inventories increased by about 2.8M barrels for the week ended Oct. 3, compared with a draw of about 3.7M barrels reported by the API for the previous week. The build was larger than...
Oil edged higher after a mixed US inventories report, with traders also focused on the broader outlook for supply as OPEC+ presses on with output increases and American production expands. West Texas Intermediate rose above $62 a barrel after ending little changed on Tuesday, when Brent closed near $65. The industry-funded American Petroleum Institute reported a drop of 1.8 million barrels at the Cushing, Oklahoma, hub last week, as well as declines in product holdings including gasoline. Still, nationwide crude holdings were estimated to have risen. Crude remains under...
Gold reapproached the psychological $4,000/oz level on Wednesday (October 8th), extending the safe-haven rally. Spot prices briefly touched an intraday record around $3.99,000, while the most-active December New York contract—the most active—returned above $4,000. Pressure on technology stocks following news of lower-than-expected Oracle cloud margins contributed to a rotation into gold amid the protracted US government shutdown. The shutdown delayed key data releases, further clouding the Fed's interest rate cut; market participants relied on official commentary and hedged in the bond...
Wednesday, October 8, 2025 - The Australian dollar weakened to around US$0.656, extending its decline as the US dollar continued to strengthen. Safe-haven demand for the greenback increased as the US government shutdown entered its second week, while President Trump's threat of mass layoffs further diminished hopes for a resolution. Global risk sentiment also declined, pressuring high-beta currencies like the Aussie. On the policy front, markets reduced expectations for near-term RBA easing after last week's hawkish tone. Futures prices now price in a 35% chance of a 25 bps cut in November...
Silver prices (XAG/USD) rose to around $48.65 in early European trading on Wednesday (October 8th). The metal strengthened slightly, approaching a 14-year high amid growing expectations of a Fed rate cut and the ongoing US government shutdown. The US government shutdown entered its eighth day on Wednesday. The increased level of uncertainty could drive safe-haven inflows, supporting silver prices. US President Donald Trump said on Tuesday that his administration plans to lay off federal employees if the shutdown continues beyond Monday, adding that he would provide details on the layoffs in...