Market News - Gold, Oil & Forex

Hormuz tensions are flaring again as Iranian exports collapse, pushing Brent toward $87 and raising the risk of another run toward $100. China’s Crude Drawdown Puts Iranian Barrels Back in Demand - Shrinking crude inventories in China might spur a buying spree over the upcoming weeks, particularly for Russian and Iranian crude, buoyed by a record-high July stock draw in Shandong.    - Chinese teapots are expected to boost their purchases of Iranian oil in the upcoming days as stockpiles in the...

Ukraine’s military claimed another drone attack on an oil refinery in Russia in the early hours on Tuesday as Ukrainian forces continue to target Russia’s energy producing and exporting infrastructure in an escalation of drone attacks at key oil refining hubs. The Ukrainian military on Tuesday said it had struck the Orsknefteorgsintez oil refinery in Orsk, in the Orenburg region. Orsk is about 1,500 kilometers (930 miles) from the frontline. “Fire was recorded. Damages are being ascertained,”...

The US House of Representatives moved to advance a sweeping Russia and Iran sanctions package on August 10, just days after the Senate approved it by an overwhelming 86-11 vote, opening the next phase of a congressional push to squeeze Moscow’s war economy and give President Donald Trump additional leverage to force Russia toward negotiations with Ukraine. The move came unusually quickly -- while the House is in its August recess -- with Republican Representatives Michael McCaul of Texas, Brian...

The national oil company of the United Arab Emirates has issued its eighth spot tender since June, trade sources told Reuters on Tuesday, as the Gulf producer that has just left OPEC pushes to sell increased crude volumes to international markets. Abu Dhabi National Oil Company (ADNOC) is offering in the latest spot tender cargoes of the Upper Zakum, Umm Lulu, and Das crude grades for loading in October and November’ sources. These crudes are produced within the Persian...

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Copper (HG_F) commodity published in members’ area of the website. As our members know, Copper Futures recently completed a pullback that provided a high-probability trading setup. The decline unfolded as a clear Elliott Wave Zig […] The post Copper (Hg_F) Elliott Wave: Targeting a Buy at the Blue Box appeared first on ActionForex.

The NFIB’s Small Business Optimism Index rose 2.4 points to 99.8 in July, soundly beating expectations for a roughly flat reading of 97.5. Eight out of the ten index subcomponents improved during the month and two deteriorated. The largest improvement came from the net share of firms planning to increase employment (up 9 points to […] The post US: Small Business Optimism Spiked in July appeared first on ActionForex.

Three currencies sit at the top of Tuesday's FX board, but they aren't telling one story. Australian Dollar strengthened because the RBA refused to declare its tightening cycle finished, while US and Canadian Dollars benefited as Brent briefly broke above $90 before easing back toward $87-88. The post Three FX Winners, Two Trades: RBA Lifts Aussie While Oil Backs Dollar and Loonie appeared first on ActionForex.

OPEC’s total oil production jumped by 1.17 million barrels per day in July from June as many Gulf producers restored some output that was shut in for three months due to the closed Strait of Hormuz. Output at the 11-member OPEC rose to 19.85 million bpd in July, extending the monthly increases for the second consecutive month, according to a based on ship-tracking data and information provided by sources at OPEC, oil companies, and consultants. In May, when major Gulf producers...

Overnight, the RBA held its cash rate steady at 4.35%, as widely expected after June’s inflation data came in softer than forecast at 3.8% headline. Yet the accompanying statement struck a notably cautious tone, warning that trimmed mean inflation remains elevated and largely unchanged from the March quarter, with oil and related commodities still trading […] The post EUR/AUD: Two Central Banks on Hold, One Triangle About to Break appeared first on ActionForex.

Uniper on Tuesday reported more than doubled adjusted net income for the first half of 2026 from a year earlier as Germany has launched a sales process to privatize the energy giant it bailed out during the 2022 crisis. Uniper booked an adjusted net income of $448 million (388 million euros) for the first half of 2026, more than double from $156 million (135 million euros) for January-June 2025, as the gas business performed well and didn’t weigh on earnings with a negative effect like in the...