Oil prices increased slightly on Tuesday following reports of a tanker in the Strait of Hormuz being hit by a projectile. However, the gains remained constrained as investors assessed the implications of enhanced Middle East supply in relation to apprehensions regarding increasing production and the global demand forecast. Brent crude futures increased by 28 cents, Read More
Gold prices declined on Tuesday, settling beneath a two-week peak reached in the prior session, as investors anticipated the forthcoming release of the U.S. Federal Reserve’s June meeting minutes to gain insights into the monetary policy trajectory under new Chair Kevin Warsh. Spot gold declined by 0.4% to $4,148.59 per ounce as of 0043, while Read More
Oil prices experienced a slight decline on Monday following OPEC+’s decision to raise its output targets starting in August. Concurrently, exports from major producers through the Strait of Hormuz are on the rise, which may contribute to an increase in global supplies. Brent crude futures decreased by 24 cents, or 0.33%, to $71.88 a barrel Read More
Gold prices stayed near a two-week high on Monday, after a U.S. jobs report from the previous week came in cooler than expected, which slightly eased expectations for interest rate hikes by the Federal Reserve. Spot gold held steady at $4,175.02 per ounce by 0028, marking a weekly rise of over 2% following four weeks Read More
Crude oil prices remained under pressure on Friday as tanker traffic through the Strait of Hormuz continued its recovery and diplomatic engagement between the US and Iran indicated signs of progress. Brent crude is on track for a fourth consecutive weekly decline, marking its longest losing streak since August 2024. Brent crude remained close to Read More
Gold experienced an increase on Friday, positioning itself for its first weekly gain in five weeks, as investors moderated their expectations regarding Federal Reserve interest rate hikes in light of softer-than-anticipated U.S. jobs data. Spot gold increased by 0.5% to $4,144.83 per ounce, reaching its highest level since June 23. U.S. gold futures for August Read More
Oil prices experienced a decline in early trading on Thursday following Qatar’s announcement that indirect discussions between Iran and the U.S. had achieved “positive progress” during the negotiations held in Doha, which wrapped up on Wednesday. The discussions centred on the Strait of Hormuz, which is responsible for one-fifth of the global oil supply. Brent Read More
Gold prices continued to rise on Thursday, following a peak not seen in over a week during the prior session. This upward movement came as investors assessed weaker-than-anticipated employment figures, with declining oil prices providing further support to the precious metal. Spot gold rose 0.8% to $4,063.56 per ounce, as of 0103, after reaching a Read More
Oil prices experienced a slight increase in early trading on Wednesday following Iran’s announcement that it would refrain from engaging in direct discussions with U.S. representatives. This development introduces additional uncertainty to the interim ceasefire between the two parties amid the ongoing four-month conflict. Brent crude futures increased by 50 cents, representing a 0.69% rise, Read More
Gold prices continued to decline on Wednesday, following a drop to a seven-month low in the prior session. The diminishing likelihood of a lasting U.S.-Iran peace agreement has intensified inflation worries and strengthened anticipations of Federal Reserve interest rate increases. Spot gold was down 0.6% at $3,981.69 per ounce, as of 0112, after hitting its Read More
