Crude oil prices have plummeted, extending yesterday's sharp losses after U.S. President Donald Trump claimed that an U.S.-Iran interim peace agreement will be signed over this weekend and affirmed soon after that the Strait of Hormuz will reopen. The message resulted in waning of supply disruption concerns.
Gold prices have soared on Friday, partially offsetting losses from the three previous sessions, as expectations on signing of a U.S.-Iran peace agreement increases following U.S. President Donald Trump's claims.
The persisting conflict in the Middle East and the closure of the Strait of Hormuz are expected to keep the global energy prices elevated this year with a 36 percent increase in the Brent crude oil prices, a new report from the World Bank said.
Gold traded higher on Friday, after having rebounded sharply from a six-month low in the previous session. Spot gold rose 0.3 percent to $4,223.34 an ounce while U.S. gold futures were up more than 3 percent at $4,244.47. The dollar found its footing after falling in the previous session. Treasury...
Oil prices slumped over 4 percent on Friday after U.S. President Donald Trump called off new military strikes on Iran and said a peace deal could be signed in a few days, helping ease fears of escalation. According to Iran's Mehr News Agency, a memorandum on resolving the conflict consists of 14 points...
Reversing yesterday's surge, crude oil prices have plunged on Thursday after U.S. President Donald Trump recalled his earlier orders to attack Iran hard.
Extending the losses from yesterday's session, gold prices have moved lower on Thursday as the U.S. prepares to hit Iran hard, raising concerns of an expansive war in the Middle East for an extended period. Due to escalation concerns, the U.S. Dollar Index advanced close to a two-month high.
Gold prices rebounded on Thursday after falling to a six-month low earlier amid heightened U.S.-Iran tensions and Fed rate hike concerns. Spot gold was up 0.6 percent at $4,095.45 an ounce after reaching a six-month low at $4,024 an ounce earlier. However, U.S. gold futures were down half a percent...
Oil prices traded lower on Thursday, giving up earlier gains on hopes that U.S.-Iran peace negotiations could resume. Brent crude futures for August delivery were down 0.8 percent at $92.32 a barrel, reversing gains from earlier in the session after the U.S. military said that it had 'completed' its...
Reversing yesterday's plunge, crude oil prices surged on Wednesday amid concerns about the gulf conflict intensifying further after the U.S. and Iran recommenced attacks. The Strait of Hormuz continues to remain closed, keeping supply disruption concerns alive.
Extending losses from yesterday, gold prices have plunged on Wednesday after a fresh skirmish broke out in the gulf between the U.S. and Iran, diminishing expectations of an early reopening of the Strait of Hormuz and a quicker end to the Middle East war.
Crude oil inventories in the U.S. decreased by much more than expected in the week ended June 5th, according to a report released by the Energy Information Administration on Wednesday. The EIA said crude oil inventories slumped by 7.2 million barrels last week after tumbling by 8.0 million barrels...
Gold prices plummeted below $4,200 an ounce on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation reading for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. Spot gold tumbled nearly 2 percent...
Oil prices reversed earlier gains to trade lower on Wednesday amid concerns about the outlook for global growth and energy demand. As inflation concerns mount, traders await a key U.S. inflation reading that could reinforce the case for a Federal Reserve interest rate hike later this year. The...
Reversing the gains from yesterday's session, crude oil prices have plunged on Tuesday after Israel and Iran halted their exchange of attacks. In addition, U.S. President Donald Trump's reassurance on a U.S.-Iran deal in a couple of days and on the quick reopening of the Strait of Hormuz, reduced ongoing supply disruption concerns.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.