Bearish signs are emerging in the oil market after US President Donald Trump's latest tariff threats sparked fears of an imminent oversupply. The West Texas Intermediate crude oil timeframe beginning in February 2026 and the following months has shifted into contango, a structure in which prices near that point trade at a discount to older prices. The repricing that began late last week dashed hopes that the market could avoid a long-anticipated oversupply, just as new US tariff threats against China are hurting demand prospects for the world's two largest crude importers. The crude oil...
Gold broke through $4,100 an ounce for the first time on Monday (October 13), hitting a new record high amid renewed U.S.-China trade tensions and expectations of a U.S. interest rate cut, while silver also rose to an all-time high. Spot gold rose 2.2% to $4,106.48 an ounce, as of 1:47 p.m. ET (1747 GMT), after hitting a record $4,116.77. U.S. December gold futures closed 3.3% higher at $4,133. Gold has gained 56% this year and topped $4,000 for the first time last week, driven by factors including geopolitical and economic uncertainty, expectations of a U.S. interest rate cut, and robust...
Oil prices rose on Monday (October 13th) after assurances that US President Donald Trump would meet with Chinese President Xi Jinping by the end of October. This eased escalating trade tensions between the world's two largest economies, which had pushed crude prices to a five-month low on Friday. Brent crude closed up 59 cents, or 0.9%, at $63.32 per barrel, while US West Texas Intermediate crude also closed up 59 cents, or 1%, at $59.49 per barrel. Both contracts fell about 4% on Friday, hitting their lowest levels since May, after Trump threatened to cancel the meeting with Xi and impose...
Oil steadied after paring a slump in the week's opening session, as investors weigh the fallout of renewed US-China trade tensions against demand. West Texas Intermediate traded near $60 a barrel after gaining 1% in the previous session — following a 4.2% plunge on Friday — while Brent closed just above $63. US president Donald Trump eased his rhetoric against China after touting a fresh round of US tariffs and export curbs late last week and flagged openness to a deal with Beijing. The resumption of the trade conflict between the two biggest oil users has introduced fresh...
Gold rises in the early Asian session, buoyed by the bullish fundamental backdrop. The BofA Global Research team expects further upside in 2026, with gold and silver potentially rising to $5,000/oz and $65/oz, respectively. "White House's unorthodox policy framework should remain supportive for gold," the team says in a research report, citing drivers including fiscal deficits, rising debt, and a push to cut rates. Spot gold is 0.5% higher at $4,131.72/oz after earlier touching a record intraday high of $4,132.04/oz. Source: Dow Jones Newswires