Market News - Gold, Oil & Forex

(RTTNews) - Gold traded higher on Friday, after having rebounded sharply from a six-month low in the previous session.

Oil prices plunged by more than 4% early on Friday as the market hopes the U.S. and Iran have made progress toward a peace deal. As of morning trade in Europe, the international benchmark, Brent Crude, had slipped by 4.34% at $86.36, extending the losses from Thursday when U.S. President Donald Trump called off a strike on Iran, claiming that a deal had been reached. The U.S. benchmark, WTI Crude, had dipped by 4.47% at $83.88. Both benchmarks were headed to a three-month low amid one of the...

Oil prices extended their sharp decline on today as markets grew increasingly confident that a breakthrough in US-Iran negotiations could eventually restore normal energy flows through the Strait of Hormuz. Brent crude slipped back into the $86-87 region, with the break below the psychologically important $90 level reinforcing the view that traders are beginning to […] The post Oil Collapses on Hormuz Optimism, EUR/CAD Rally May Be Just Getting Started appeared first on ActionForex.

The US natural gas market (XNG/USD) is entering the summer season under the influence of two opposing forces. Domestically, the picture remains bearish. According to the EIA, working gas in underground storage stood at 2,688 billion cubic feet as of 5 June 2026, which is 151 billion cubic feet above the five-year average. At the […] The post US Natural Gas: Inventory Surplus Continues to Weigh on Prices appeared first on ActionForex.

India has imposed limits on gasoline and diesel sales at retail fuel stations to avoid supply crunches, with commercial consumers banned from buying any fuel from retail stations, Bloomberg reported, noting there will be daily limits on diesel sales. The diesel cap was set at 200 litres per vehicle or customer, with resale of the fuel forbidden, Reuters noted in a report on the news. Commercial users, meanwhile, will have to get their fuels from bulk sellers after their rush to retail fuel...

U.K. GDP fell 0.1% in April as services activity declined and companies cited pressure from the Middle East conflict.

In focus today UK April GDP is released today. PMIs suggest the economy remained in growth territory in April and only slowed in May, although market consensus expects GDP in April to decline further from 0.3% m/m in March to -0.1% m/m in April. Euro area final inflation estimates for May are released from Germany, […] The post ECB Hikes As Expected, One More Likely in September appeared first on ActionForex.

Goldman Sachs has revised down its estimate for oil prices next year, basing the revision on expectations of stronger supply and weaker demand. The bank sees Brent crude averaging $80 per barrel in 2027, thanks to a ramp-up in production across major non-OPEC producers and China’s diversification away from oil. “We assume that just over 10% of the demand weakness persists as China's shift to alternatives (e.g., EVs) accelerates,” the bank’s analysts said in a note, as quoted by Reuters. “We now...

WTI Light Crude Oil (CL) maintains a bearish sequence that began from the May 19, 2026 high. The decline from that peak produced wave 1 at $86.35, followed by a corrective rally in wave 2. This correction unfolded as a zigzag, with wave ((a)) ending at $94.78, wave ((b)) pulling back to $90.12, and wave […] The post Elliott Wave View: Wti Crude Oil (Cl) Eyeing Lower Range at $68–$73 appeared first on ActionForex.

Financial markets staged a powerful relief rally after US President Donald Trump abruptly called off planned military strikes against Iran and declared that diplomatic discussions had reached the “highest level of Iranian leadership.” Trump later suggested that a peace agreement could be finalized as soon as this weekend, potentially leading to the reopening of the […] The post Gold and Silver Hold Make-or-Break Zones After Trump’s Iran Pivot, but Bullish Reversal Remains a Work in Progress...