… CPI,” said Tim Waterer, chief market analyst at KCM Trade. “A strong inflation print would reinforce expectations of a Fed hike, lift yields further and weigh more heavily on gold.” Traders are pricing in a 58.4% chance of a rate hike at the Fed’s September 15-16 meeting, CME’s …
… about threats to Middle Eastern oil supply because of the war. “Markets appear to be pricing economic pressure as a lower-risk path for physical supply than kinetic action, which is why the initial reaction was for oil to move lower rather than spike higher,” said Tim Waterer …
… A deal to reopen the Strait of Hormuz still does not appear to be in sight, and shipping numbers remain at a trickle,” said chief market analyst at KCM, Tim Waterer. …
… Later in the day he added that the U.S. had control of the strait and had swept the strategic oil waterway for Iranian mines. “There appears to be a gulf, no pun intended, between the U.S. and Iran over what any agreement would actually look like,” said Tim Waterer, chief marke …
… to Iran for its widespread attacks. “Traders have been conditioned by the on-again, off-again nature of the negotiations and are waiting for tangible evidence, such as verified tanker movements or formal agreements, before further unwinding the risk premium,” said Tim Waterer …
… broadcast over VHF channel 16 that it had been hit by an unknown projectile. “While the fighting between Saudi Arabia and the Houthis has not completely halted energy flows, it has forced longer voyage times, higher insurance costs and occasional diversions,” said Tim Waterer …
… climbed nearly 12% this week, with Brent on track for a third consecutive weekly gain and WTI on pace for a second weekly gain. “The potential threat of the Red Sea becoming another major supply disruption point is further complicating the global oil outlook,” said Tim Waterer …
… e 1, with the ongoing Middle East tensions outweighing support from softer June U.S. inflation figures released this week. “Even with tamer CPI and PPI figures, the oil price spike this week meant traders simply couldn’t celebrate the cooler inflation numbers,” said Tim Waterer …
Spot gold dropped 0.5% to $4,405.47 per ounce on Monday as strong U.S. job growth reinforced expectations for higher interest rates, with traders pricing in a 58.4% chance of a Fed rate hike at its September 15-16 meeting. Market participants await U.S. inflation data due later in the week for further clarity on the Federal Reserve's policy direction.
Spot gold dropped 0.5% to $4,405.47 per ounce on Monday as strong U.S. job growth reinforced expectations for higher interest rates, with traders pricing in a 58.4% chance of a Fed rate hike at its September 15-16 meeting. Market participants await U.S. inflation data due later in the week for further clarity on the Federal Reserve's policy direction.
Oil prices gained on Tuesday as renewed fighting between the U.S. and Iran in the Middle East raised fears of supply disruptions, with Brent crude up 0.6% to $91.05 a barrel and U.S. West Texas Intermediate up 1% to $86.59. The escalation, including President Trump's threat of further strikes following Sunday's direct attacks, has raised concerns about potential damage to energy infrastructure around the Gulf and shipping disruptions through the Strait of Hormuz.
Oil prices steadied on Tuesday after falling over 2% on Monday, as investors assessed the impact of expanded U.S. secondary sanctions against Iran announced by Treasury Secretary Scott Bessent. The U.S. is pursuing economic coercion rather than military force, which analysts said reduced concerns about threats to Middle Eastern oil supply.
Oil prices climbed Tuesday after Iran said it would adopt a "fully offensive" military posture and the U.S. ruled out extending a ceasefire agreement, with progress toward reopening the Strait of Hormuz stalled. Brent crude rose 0.3% to $91.14 a barrel and U.S. West Texas Intermediate gained to $85.04.
Oil prices edged up on Friday after the United States threatened an indefinite naval blockade of Iran, offsetting earlier bearish signals from weaker demand outlook and large US stock builds. Brent crude rose to $87.08 a barrel and WTI to $81.31 a barrel, with both benchmarks tracking weekly gains of about 4%.
Oil prices held at one-week highs on Tuesday as hopes for a US-Iran peace deal dimmed following President Trump's demands for compensation, with Brent crude at $87.81 a barrel and U.S. West Texas Intermediate at $82.20. Saudi Aramco has postponed the restart of its Jazan refinery to August 30 after the Houthis claimed attacks on the plant.
Oil prices rose Monday as Iran said a deal with Oman on new shipping lanes was in final stages but insisted the U.S. must meet other conditions before the Strait of Hormuz reopens. Brent crude rose to $84.46 a barrel and U.S. West Texas Intermediate to $78.79, with both benchmarks recovering from last week's 7% decline that followed hopes for a deal.
Oil prices rebounded 1% on Tuesday after a steep plunge, driven by concerns that Middle East supply remains at risk as diplomatic resolution to the U.S.-Iran war seems unlikely. Brent futures rose to $84.89 a barrel and WTI crude to $81.11, though Iran's Foreign Ministry rejected Trump's claims of ongoing negotiations to end the conflict over control of the Strait of Hormuz, a channel for about a fifth of global crude oil and natural gas shipments before the conflict.
Brent crude rose 0.83% to $84.93 a barrel and WTI rose 1.03% to $79.76 a barrel on Friday as US-Iran hostilities escalated and Tehran asked the Houthis to prepare to shut the Red Sea export route, with both benchmarks climbing nearly 12% for the week.
Gold was on track for its biggest weekly loss in six as escalating U.S.-Iran clashes lifted oil prices by about 12% this week, adding to inflationary pressures and strengthening the case for higher U.S. interest rates. The metal has lost 3.2% so far this week, outweighing support from softer June U.S. inflation figures.
Oil rose on Wednesday as President Trump reimposed a naval blockade on Iranian ports and Iran launched retaliatory strikes on U.S. infrastructure. Brent crude closed at its highest since June 12 and WTI at its highest since June 15, with prices driven up by supply disruptions in the Strait of Hormuz, where one-fifth of the world's oil and liquefied natural gas transited before the war.
Oil prices rose nearly 3% on Tuesday to their highest in four weeks after the U.S. reimposed a naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, with Brent crude reaching $84.80 per barrel and U.S. West Texas Intermediate rising to $79.84. The escalation has injected fresh risk and uncertainty into energy markets.
Brent crude gained 0.39% to $72.29 and U.S. West Texas Intermediate rose 0.26% to $68.84 a barrel as traders shifted focus from easing Middle East tensions to supply increases and demand prospects. The U.A.E. raised crude output above 3.8 million bpd in June, its highest since April 2020, after leaving OPEC+ production quotas in May.
Brent crude and West Texas Intermediate rose slightly on Friday before a long U.S. holiday weekend, as wary optimism held over peace efforts between the United States and Iran in the Middle East. Shipping has partially resumed through the Strait of Hormuz, and Gulf producers are ramping up production following an initial deal between the two countries.
Brent crude fell 0.9% to $72.51 a barrel as investors focus on potential U.S.-Iran negotiations in Doha amid a strained interim ceasefire, with prices down around 22% from last month and nearly back to pre-war levels from February 27.
Oil prices fell on Friday as oil tankers began moving through the Strait of Hormuz following a U.S.-Iran interim peace deal, with Brent crude futures down 0.68% to $78.31 a barrel and analysts expecting over 85 million barrels of stranded Middle East Gulf oil to reach global markets alongside the lifting of U.S. sanctions on Iranian oil.
Oil prices rebounded on Tuesday amid concerns about the lack of details in a preliminary agreement to end the US-Iran war and uncertainty about how quickly the blocked Strait of Hormuz would reopen. Brent crude gained 0.3% to $83.42 a barrel and US West Texas Intermediate rose 0.3% to $81.12 a barrel.
Brent crude and U.S. West Texas Intermediate prices rose slightly after Iran and Israel halted attacks following an appeal from U.S. President Donald Trump, though investors remain uncertain whether the truce will hold given lingering geopolitical tensions and the possibility of resumed strikes.
Oil prices remained mostly steady on Tuesday as conflicting reports about US-Iran negotiations created market volatility, with Brent crude at $95.04 and West Texas Intermediate at $91.99 per barrel. President Trump said talks were ongoing and expected a ceasefire extension and Strait of Hormuz reopening within a week, while Tehran's news agency reported suspended negotiations.
Oil prices eased more than 1% on Tuesday after the U.S. Navy launched an operation to loosen Iran's closure of the Strait of Hormuz, with a U.S.-flagged vessel successfully exiting the Gulf with military escort. Brent crude fell to $113.22 per barrel and WTI crude to $104.40, though analysts cautioned the escorted passage remains a limited event rather than full reopening.