Oil prices experienced a decline of more than 5% on Monday, attributed to the cessation of strikes between the US and Iran over the weekend, which followed a fortnight of hostilities. The pause has elevated expectations that diplomatic efforts may facilitate a resolution to the conflict, potentially restoring normal shipping operations through the Strait of Read More
Gold experienced an increase of over 1% on Monday, following a cessation of hostilities in the Middle East that led to a decline in oil prices, thereby alleviating concerns regarding inflation and the persistence of elevated interest rates. Spot gold increased by 1.3% to $4,103.99 per ounce as of 0058. U.S. gold futures for August Read More
Oil prices were on track for a weekly increase on Friday, as assaults by Houthis on tankers in the Red Sea heightened apprehensions regarding a potential closure of another vital shipping corridor. Simultaneously, Kazakhstan implemented a temporary reduction in oil production following the closure of its primary export route. Brent futures declined by 81 cents, Read More
Gold declined on Friday following a 2% drop in the previous session, as Brent crude’s rise above $100 a barrel heightened inflation worries and bolstered the argument for increasing interest rates. Spot gold declined by 0.1% to $4,042.77 per ounce as of 0110, reflecting a decrease of over $120 from the two-week high reached on Read More
Oil prices increased by over 1.5%, reaching their highest level in more than six weeks on Thursday. This uptick followed the United States initiating a new series of strikes on Iran, while Yemen’s Houthis targeted oil tankers in the Red Sea. Brent crude futures increased by $1.93, representing a 2% rise, reaching $96 by 0011, Read More
As oil prices increased due to an intensifying Middle East conflict, gold fell below two-week highs on Thursday. Meanwhile, traders turned their attention to the Federal Reserve meeting next week in search of hints regarding the timing of possible interest rate hikes. Spot gold was little changed at $4,133.39 per ounce as of 0115, having Read More
Oil prices experienced a modest increase in early trading on Wednesday, driven by heightened concerns over potential supply disruptions. This uptick followed reports that U.S. forces commenced strikes on Iranian military targets for the 11th consecutive night, alongside Kuwait’s announcement of drone attacks attributed to Iran. Brent crude futures experienced an increase of 0.55%, equating Read More
Gold rose to a near two-week peak on Wednesday, driven by technical buying that supported prices. Investors are now looking ahead to next week’s U.S. Federal Reserve meeting for insights into the interest rate trajectory, while also keeping an eye on the continuing conflict in the Middle East. Spot gold increased by 0.9% to $4,113.73 Read More
Oil prices declined on Tuesday as traders weighed reports of renewed diplomatic initiatives between the U.S. and Iran against recent military exchanges and threats from Yemen’s Houthis regarding a naval blockade of Saudi Arabia. Brent crude futures declined by 35 cents, representing a 0.4% decrease, settling at $88.87 per barrel. Meanwhile, U.S. West Texas Intermediate Read More
Gold experienced an increase on Tuesday as oil prices softened, reflecting indications of diplomatic initiatives aimed at alleviating the U.S.-Iran conflict. Investors are weighing the potential risk of a renewed increase in crude prices, prompted by threats from Yemen’s Houthis to establish a naval blockade on Saudi Arabia. Spot gold increased by 0.5% to $4,023.56 Read More
