Crude oil prices have gone into freefall on Wednesday, extending yesterday's losses, as diplomatic measures to secure a U.S.-Iran agreement to end their hostilities move at a brisk pace.
Partially offsetting the losses from yesterday's session, gold prices have edged higher on Wednesday as efforts to secure a U.S.-Iran peace agreement gather pace, sending positive signals of an to end the war and the reopening of the Strait of Hormuz.
The Energy Information Administration released a report on Wednesday showing crude oil inventories in the U.S. tumbled by much more than expected in the week ended May 15th. The report said crude oil inventories plunged by 7.9 million barrels last week after slumping by 4.3 million barrels in the...
Gold prices were little changed on Wednesday, recouping early losses despite a stronger dollar and higher U.S. Treasury yields. Spot gold was steady at $4,482.58 an ounce, consolidating losses at nearly seven-week lows after U.S. President Donald Trump said the war with Iran will end "very quickly."...
Oil prices were sharply lower on Wednesday after U.S. President Donald Trump said the war with Iran will end "very quickly." In another development, the British government has relaxed sanctions on Russian energy imports to address rising fuel costs due to the effective blockade of the Strait of Hormuz....
Following three consecutive sessions of gains, crude oil prices have edged lower on Tuesday following news of the U.S. halting its planned attacks on Iran. Even as Iran awaits the U.S. response to a peace plan it sent days before through Pakistan, the Strait of Hormuz continues to remain shut, tightening global oil supplies.
Gold prices have slumped on Tuesday as the U.S. administration delays responding to a 14-point peace plan submitted by Iran while uncertainty surrounding the reopening of the Strait of Hormuz continues to linger.
Gold fell below $4,550 an ounce on Tuesday as Treasury yields edged up and the dollar steadied after a decline in the previous session on expectations that the Federal Reserve will keep interest rates higher for longer. Oil prices eased from two-week highs but remained at elevated levels, weighing...
Oil prices fell sharply on Tuesday after U.S. President Donald Trump said "serious negotiations" are underway to end the war with Iran. Brent crude futures for July delivery were down 1.6 percent at $110.30 a barrel, while WTI crude futures fell a little more than 1 percent to $103.31. Investors...
Crude oil prices have surged on Monday, extending the gains from the two previous sessions as the U.S. administration takes time to respond to Iran's new peace proposal while the uncertainty surrounding reopening of the Strait of Hormuz holds.
Gold prices have ticked lower on Monday as a U.S. ultimatum to Iran to strike a deal before time runs out triggered war concerns while reports of Iran submitting a new proposal to the U.S. to end war eased Middle East tensions. The U.S. is yet to officially respond.
Gold prices were little changed on Monday, after having hit a more than one-and-a- half-month low earlier in the session, on rising Middle East tensions and inflation concerns. Spot gold edged up marginally to $4,543.66 an ounce while U.S. gold futures slipped 0.3 percent to $4,547.97. Brent crude...
Oil prices climbed on Monday, building on last week's rally as the continued near-shutdown of the Strait of Hormuz kept supply concerns elevated. Brent crude futures for July delivery were up nearly 1 percent at $110.34 a barrel, while WTI crude futures for July delivery surged 1.3 percent to $102.29. Amid...
Extending gains from yesterday's session, crude oil prices have catapulted on Friday after the U.S.-China summit ended with no announcement on the likelihood of China liaising with Iran to end the gulf war, leaving the Strait of Hormuz blockade to continue.
Extending the losses from yesterday's session, gold prices have plunged on Friday as the Strait of Hormuz blockade is more likely to continue since the U.S.-China summit ended with no announcement on a possible Chinese intervention to end the gulf war.
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.