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 slipped after its biggest jump in six months as Israel said its retaliation for attacks by militant group Hamas over the weekend had “only started,” increasing the prospect of fresh instability in the region as the fighting enters its fourth day. West Texas Intermediate declined 0.3% after surging 4.3% on Monday, as markets reacted to fighting that began…
The dollar softened on Tuesday along with U.S. interest rate expectations and a fall in Treasury yields as investors detected a slight dovish shift in Federal Reserve officials’ tone. The yen held small gains as violence in the Middle East supported buying of safe-haven assets, and last traded firmly at 148.34 per dollar. The Swiss…
