Market News - Gold, Oil & Forex

The disruption of Middle Eastern crude supplies through the Strait of Hormuz has forced Chinese refiners to delay or indefinitely postpone 500,000 barrels per day of refining capacity, creating one of the first major downstream impacts of the Iran war outside the Gulf region, Reuters reported on Monday. The delays affect a 300,000-bpd refinery being developed by Huajin Aramco Petrochemical Co. in northeastern China and a planned 200,000-bpd restart at PetroChina’s Dalian refinery. Both projects...

Saudi Arabia has slashed the official selling prices of its crude loading in July to customers in Asia, Europe, and the United States, in a widely expected second consecutive monthly cut amid weakening demand and narrowing spot Middle East crude premiums.   Saudi oil giant Aramco has reduced the price of its flagship Arab Light crude loading for Asia in July by $6 per barrel, setting it at a premium of $9.50 per barrel over the average Oman/Dubai prices, the benchmark for Middle East oil, a...

(RTTNews) - Gold prices fell below $4,300 an ounce on Monday as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year.

Israel hit a petrochemical plant in southwestern Iran early on Monday, the first direct energy strike on Iranian territory since the April 8 ceasefire, as hostilities in the Middle East rapidly escalated during the weekend. Israel and Iran traded missile strikes on Sunday, with Iran targeting Israel and Israel retaliating on Iranian targets. The escalation swiftly led to a 5% spike in oil prices early on Monday in Asian trade amid market fears that a U.S.-Iran deal is becoming increasingly...

EUR/USD began the new week at 1.1520. The US dollar ended last week with gains of more than 1% following a strong US labour market report. In May 2026, the US economy added 172,000 jobs, significantly above the market forecast of 85,000. The data exceeded expectations, reinforcing confidence in the resilience of the US economy. […] The post EUR/USD at April Lows: What’s Next for the Pair? appeared first on ActionForex.

China accounts for the majority of low-carbon projects that secured total funding of $43 billion over the last six months, Reuters has reported, citing a report by the Mission Possible Partnership, a non-governmental energy transition advocacy, supported by the World Economic Forum and the Bezos Earth Fund. There were a total of 19 industrial projects that received funding for low-carbon energy in the period reviewed, and 13 of them were in China, the report said. The total is a considerable...

Gold’s near-5% collapse last week has extended into the new week, with selling pressure accelerating as investors continue to reprice the global interest rate outlook. The precious metal is now approaching a critical test, with a retest of the March low near $4,100 increasingly likely and the psychologically important $4,000 level beginning to come into […] The post Gold’s Downside Acceleration Points to Crucial $4,000 Battle Zone appeared first on ActionForex.

Markets Since the conflict in the Middle East, eco data were almost ‘by definition’ considered outdated as markets try to assess the impact of higher energy prices and other supply disruptions as the conflict developed. However, especially US data have regained relevance of late. The combination of a resilient economy (strong ISM’s) and reaccelerating inflation […] The post Sunrise Market Commentary appeared first on ActionForex.

In focus today In the euro area, the June Sentix investor confidence index is released today. Markets look for an improvement to -14.6 (May: -16.4), extending last month’s positive momentum, although sentiment remains pessimistic amid rising inflation and a weak growth outlook. In Germany, April industrial orders are due. After the 5.0% m/m surge in […] The post Renewed Iran Uncertainty and Rising Fed Hike Speculations appeared first on ActionForex.

OPEC+ this Sunday decided to add another 188,000 barrels of crude to its collective production next month despite the ongoing disruption in the Middle East resulting from the U.S. and Israeli war against Iran. The group has approved a series of output hikes totaling close to 600,000 barrels daily since April, but this has remained largely on paper as a lot of big producers in the Middle East cannot restore production to pre-war levels due to the continued blockage in the Strait of Hormuz. The...