26th June 2019
Gold price has experienced a strong sell-off since last night as it dropped from the 6 year highs of $1.440/oz to the lows of $1.405/oz during the early US trading session amid the comments from the most dovish Fed member Bullard and Fed chairman Powell that they ruled out a 50 basic points interest rate cut in July and they both talked for an “insurance cut” of 25bps rather than introducing an easing monetary policy with more rate cuts in the future.
21st June 2019
Gold price spiked above $1.400/oz, hitting their highest level since 2013 while WTI Crude oil price moved above $57 driven by rising geopolitical tensions in Middle East after Trump called off an airstrike against Iran military facilities on retaliation of shooting down the US spy drone, the weaker US dollar amid the expected rate cuts from Federal Reserve.
20th June 2019
WTI and Brent crude prices rallied by 2% at $55.50 and $63.50 per barrel respectively at early Thursday amid rising geopolitical risk after Iran said it shot down a US spy drone in its airspace, together with missile attack on Saudi power plant last night and the signals from Federal Reserve for rate cuts in July.
19th June 2019
WTI and Brent crude prices are trading higher by 0.2% at $54.10 and $62.40 per barrel respectively after the agreed meeting between US President Trump and Chinese President Xi at the G20 summit at the end of this month, the ongoing tension in the Middle East after the two attacks in oil tankers at Strait of Hormuz and the OPEC+ meeting at June 1-2 to extend the cut deal until end of year.
5th June 2019
WTI and Brent crude oil prices are trading lower by -0.2% at $52.85 and $61.40 per barrel respectively during the European trading session after the bearish API oil inventory report and the worries of global economic slowdown which might weigh on the oil demand growth.
3rd June 2019
WTI and Brent crude oil prices are trading lower by -0.7% at $53 and $61 per barrel respectively during the European Monday morning session as the risk aversion sentiment dominates the global markets on the rising worries for an extended global recession impacting the oil consumption demand after the new threats from US administration to impose a 5% tariff to all Mexican imports.
29th May 2019
WTI and Brent crude prices are losing -1.3%, trading at $58.30 and $69 per barrel respectively during the European trading session as the risk aversion dominates in the global markets amid the escalation of the trade tension which might harm the global crude oil demand growth despite the rising supply disruption risks from the Middle East tensions.
20th May 2019
WTI and Brent crude oil contracts are moving higher by 1.5% at $63.60 and $73.20 per barrel respectively during the first day of the week after the decision of the OPEC+ meeting to maintain the production cut deal until the end of the year to lower the global crude inventories and the rising tension in the Middle East.
16th May 2019
WTI and Brent crude oil prices rises by +0.30% to $62.50 and $72.50 per barrel respectively during the Thursday’s European trading session amid the ongoing tensions in the Middle East and the sabotage attacks in the Saudi Arabian oil infrastructures.
14th May 2019
Crude Oil falls below $61 as trade war escalated despite “sabotage attack” near Strait of Hormuz. Crude oil prices suffered huge losses yesterday amid the escalation of the trade war between the US and China despite the “sabotage attack” against two Saudi Arabian oil tankers near the Strait of Hormuz.
6th May 2019
US President Donald Trump shocked the global markets after he tweeted last night that he would sharply hike tariffs on Chinese goods next Friday, increasing the risk-off sentiment of the market sending the investors to more safe-haven assets such as Gold, Bonds and Japanese Yen.
3rd May 2019
WTI and Brent oil contracts prices are trading near one month lows, at $61.30 and $70 per barrel respectively during the European trading session amid the surge of the US crude production, the unexpected increase of the US crude inventories despite the supply concerns from the end of waivers to Iranian oil exports and from the conflicts in Venezuela and Libya.