Oil prices climbed further on Friday amid signs that the U.S. and Iran have made little progress toward de-escalating the Middle East conflict. The Strait of Hormuz remained effectively closed, raising concerns that tensions may persist for longer than expected. Brent crude futures rose nearly...
Crude oil has surged on Thursday as traffic via the Strait of Hormuz remains closed, keeping oil supply concerns elevated while investors await Iran's next move on the extension of the ceasefire by the U.S. in the gulf war and calls for peace talks.
Gold prices have edged lower on Thursday as the planned second round of U.S.-Iran negotiations has been delayed indefinitely with both sides hardening their stance, leaving the Strait of Hormuz blocked with no resumption of oil transit, thereby stoking inflationary concerns again.
Gold fell below $4,700 an ounce on Thursday as the dollar held firm and oil prices jumped toward $104 a barrel amid stalled U.S.-Iran peace talks and tensions over the Strait of Hormuz. Spot gold fell 0.9 percent to $4,699.88 an ounce as the dollar held firm after two days of gains. U.S. gold futures...
Continuing the gains from the two previous sessions, crude oil has soared on Wednesday despite the extension of the ceasefire in the U.S.-Iran war as supply-disruption concerns remain due to the ongoing blockade of the Strait of Hormuz.
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.