Oil futures declined on Tuesday, easing back after a more than 4% rally a day earlier as traders continued to assess the impact of the Israel-Gaza war on crude supplies in the Middle East. Despite the easing of prices, “the markets remain unsettled by the situation in Israel, which could still lead to further instability…
Oil held onto most of Monday’s surge as the Israel-Hamas war remained contained and Saudi Arabia pledged to help ensure market stability. West Texas Intermediate traded near $86 a barrel after a war-risk premium returned to the market on Monday following Hamas’ surprise attack on the weekend. The kingdom reiterated its support for efforts by OPEC+ to…
Gold held steady even as Treasury yields posted sharp declines, amid recent dovish commentary from Federal Reserve officials that indicated further interest rate rises this year are unlikely. Yields on US government bonds notched some of their biggest one-day losses all year on Tuesday as swap markets scaled back bets the central bank will hike rates again in 2023. While tighter monetary…
Gold held gains as conflict in the Middle East continued to roil markets, while investors considered whether tightening financial conditions may have reached a peak following dovish commentary from Federal Reserve officials. The precious metal steadied after jumping 1.6% on Monday, the most since May, as haven demand surged on the back of Hamas’s shock attack on Israel…
Oil surged more than 4% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East, home to almost a third of global supply. West Texas Intermediate rose above $86 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting…
The safe-haven dollar and Japanese yen edged higher on Monday as violence in the Middle East spooked markets, while a blowout U.S. jobs report gave the greenback a further leg up. The risk-sensitive Australian and New Zealand dollars meanwhile fell in thinned Asian trade, with Japan closed for a holiday. Against the euro, the yen…
