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UAE’s Fujairah Hit Again as Vital Port Suspends Oil Loadings – Bloomberg
A report by Bloomberg showed during European trade on Monday that a key port of Fujairah in the United Arab Emirates (UAE) was hit by a drone, the latest in a series of strikes threatening the country’s only export route outside the Strait of Hormuz.
Fxstreet
Mon, Mar 16
Oil: Risks to food inflation – Standard Chartered
Standard Chartered’s Ethan Lester and Madhur Jha analyse how higher Oil prices can quickly lift global food inflation via fertiliser costs and trade bottlenecks. They note that food’s share in CPI baskets, import intensity and dietary patterns will shape country outcomes.Fxstreet
Mon, Mar 16
WTI Oil rises to near $98.00 on Trump threats against Iran export facilities
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.85 during the early European trading hours on Monday. The WTI price climbs as the US President Donald Trump administration weighs military strikes on OPEC member Iran’s key oil export facilities on Kharg Island.
Silver Price Forecast: XAG/USD slides to three-week low below $80 ahead of Fed’s policy
Silver price (XAG/USD) is down 0.5% to near $80.00 in the late Asian trade on Monday. The white metal revisits the three-week low of around $78.00 during the day amid firm expectations that the Federal Reserve (Fed) will maintain a status quo in the monetary policy announcement on Wednesday.Fxstreet
Mon, Mar 16
Iranian Foreign Minister claims Israeli strikes on fuel depots are ‘ecocide’
Iran’s Foreign Minister, Abbas Araghchi, claimed Israeli strikes on fuel depots across Tehran amount to "ecocide," citing the impact on the health of the Iranian capital’s residents, the Guardian reported on Monday. He added that Israel must be punished for its war crimes.US Dollar Index remains above 100.00 after pulling back from nearly 10-month highs
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, retreats after touching a near 10-month high of 100.54 in the previous session, trading around 100.20 during Asian hours on Monday.
Fxstreet
Mon, Mar 16
Breaking: Gold Falls Below $5,000 as Oil-driven Inflation Fears Weigh
Gold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran.Fxstreet
Mon, Mar 16
Silver Price Forecast: XAG/USD Bounces Off Two-week Low; Retakes $81.00 Amid Bearish Setup
Silver (XAG/USD) stages a modest recovery from a nearly two-week low, around the $78.35 region touched during the Asian session on Monday, and climbs back above the $81.00 mark in the last hour.Fxstreet
Mon, Mar 16
US Energy Secretary Says Iran War Expected to End Within Next Few Weeks
US energy secretary Chris Wright said that he expects the United States (US)–Israel war with Iran to end within “the next few weeks,” with oil supplies rebounding and energy costs declining afterwards, the Guardian reported on Sunday.Fxstreet
Mon, Mar 16
Strait of Hormuz Blockade Risk Persists, Asia Oil Prices Surge Then Retreat and Fluctuate
TradingKey - During the March 16 Asian trading session, international oil prices retreated from earlier highs, as the escalating military conflict between the U.S. and Iran remained the primary underlying driver.TradingKey
Mon, Mar 16
Gold price heads for weekly loss as DXY surges above 100.00
Gold price loses some 0.70% on Friday. It seems poised to end the week with losses of more than 2% as the Greenback remains the choice for safety amid the Middle East conflict, which has increased investors' angst over a reacceleration of inflation.Fxstreet
Fri, Mar 13
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