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 U.S. dollar edged lower Thursday after weak employment data resulted in a moderation in U.S. Treasury yields, while the euro gained despite the weak economic outlook. At 03:40 ET (07:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 106.442, just lower than its…
Oil held onto the previous day’s drop as macroeconomic concerns overshadowed physical market tightness to cloud the demand outlook. West Texas Intermediate traded near $89 a barrel after declining by 2.2% in the previous session. A global rout in sovereign bonds and shares extended into Tuesday, while the dollar strengthened as traders digested messaging that the Federal Reserve will need to…
