Crude oil rises to June highs amid renewed US-Iran tensions
Oil prices hit their highest since June as US-Iran conflict escalates, driving risk premium higher.
Gold, crude oil, industrial metals and agricultural products: supply and demand, inventories and geopolitical risk.
Oil prices hit their highest since June as US-Iran conflict escalates, driving risk premium higher.
Gold upside is capped by Fed rate hike risks and the US-Iran conflict; traders await US CPI for direction.
Sugar prices surged nearly 30% in five weeks to 18.15 cents per pound, the highest since April 2025, fueled by supply disruptions and speculative funds.
Gold rebounded from a near-four-week low to trade above $4,400, with technical levels and the upcoming US jobs report in focus.
WTI crude oil turned bearish after failing above $91.31; decision zone $89.93-$90.13, targets down to $86.33.
Trump considers declaring an end to the Iran war, while the Pentagon extends troop deployments. Gold rebounds and the yen strengthens.
Trump is privately weighing declaring the Iran war over, while the Pentagon extends deployments, indicating a possible conflict into next year.
Kuwait's military says air defences are responding to Iranian missile and drone attacks, helping push oil prices higher.
US escorts 40 tankers carrying 18 million barrels through Strait of Hormuz in a single-day wartime high.
Oil rose to late-July highs after US-Iran strikes and a large crude inventory draw, but resistance at current levels stalled further gains.
The Dutch central bank moved 86 tonnes of gold from the US and Canada to London between March and August, citing geopolitical unrest.
In a satirical post, President Trump proposed renaming the Strait of Hormuz to 'Trump Strait'.
EIA data showed a larger-than-expected crude inventory draw of 4.45M barrels. Crude oil rebounded from $88.97 to $90.05, but remains down on the day.
Coinbase co-founder Fred Ehrsam reportedly seeks control of three Venezuelan oil fields amid US contract reshuffle.
European natural gas prices surged to a three-year high as storage levels fell to a 13-year low, raising winter supply concerns.