Market News - Gold, Oil & Forex

Whatever officially occurs next in the on-again/off-again negotiations towards a peace deal between the U.S. and Iran, unofficially Tehran knows that it has established de facto control over both the world’s two key maritime energy transit routes -- the Strait of Hormuz and the Bab el-Mandeb Strait -- for at least as long as the Islamic regime remains in place in Iran. Washington, London, Brussels, Beijing, and Moscow know it too. The Strait of Hormuz remains effectively controlled by vast...

The Middle East conflict and the heightened threats to shipping in the Red Sea have prompted China to boost the use of the Arctic to move containers from the Chinese east coast to Europe. The fast-melting Arctic ice offers an alternative shipping route in the summer as the Houthi threats to shipping in the Red Sea and the Bab el-Mandeb Strait make cargo operators more cautious in transiting the key chokepoints in the Middle East. Shipping through the Arctic is not something new, but this time...

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 9.072 million barrels in the week ending August 7, compared to analyst expectations for a 500,000-barrel draw. In the week prior, U.S. crude oil inventories rose by 2.69 million barrels. The larger-than-expected build was driven in part by higher crude imports relative to exports during the week. Commercial crude oil inventories excluding the SPR have lost just over 49 million barrels over...

(RTTNews) - Crude oil prices have surged on Tuesday, extending the gains from the two previous sessions as the U.S.-Iran stalemate over new demands for compensation for war-related damages continued, diminishing the expectations of an early reopening of the Strait of Hormuz.

The consumer price index is expected to show only a modest increase for July.

The whole Comex curve is at record levels, with 2027 contracts above $7 a pound, yet copper mining stocks had one of their worst sessions of the summer.

Saxo Bank says bullion has to hold $4,360 to keep the rally alive, with headwinds building from oil, yields and the dollar into Wednesday’s inflation print.

Gold pushed toward $4,450 an ounce Tuesday, its best level in about two months, as a stalled U.S.-Iran deal to reopen the Strait of Hormuz kept oil elevated and traders braced for a Wednesday inflation report that could decide whether a September Fed rate hike is really off the table. Silver pushed above $65 for a second straight session, extending its climb to a seven-week high. The rally traces back to Friday's jobs report, which showed the U.S. economy shed 23,000 positions in July. That...

The metal prices retreated from a seven-week high as traders lock in gains before US inflation data comes out.

Five months after the U.S. and Israel opened a war with Iran, global fuel markets still haven't settled down, and the latest IEA data prove it. The IEA's monthly end-use price tracker, updated Aug. 7 and covering prices through July, shows the average per-liter cost of automotive diesel across the countries it tracks sitting near $1.94 in U.S. dollar terms. That's roughly 14% above where it stood in February, before the war started, and it's actually higher than June, even as crude oil kept...