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WTI Oil prices steady near $95 as strategic reserves offset Middle East supply risks
West Texas Intermediate (WTI) US Oil trades around $95.30 on Friday at the time of writing, virtually unchanged for the day, as markets balance supply relief measures with escalating geopolitical risks in the Middle East.
Oil: War-driven supply shock supports prices – Commerzbank
Commerzbank’s commodity team, including Barbara Lambrecht and colleagues, highlights that the Iran war has triggered the largest oil supply outages ever, with the IEA estimating losses of at least 8 million barrels per day.Fxstreet
Fri, Mar 13
Gold struggles as Oil-driven inflation fears weigh on global interest rate outlook
Gold (XAU/USD) struggles to gain traction on Friday and remains on course for a second weekly decline as surging Oil prices stemming from the ongoing US-Iran war fuel inflation concerns and trigger a hawkish repricing of global interest-rate expectations, weighing on the non-yielding metal.
Fxstreet
Fri, Mar 13
US Treasury Yields Extend Gains, Weighing on Gold
TradingKey - US Treasury yields have remained firm this week, with the 10-year note trading largely in a 4.1%–4.3% range and touching around 4.27% at the weekly high — noticeably above the roughly 4.05% level seen at the start of the month.TradingKey
Fri, Mar 13
Silver Price Forecast: XAG/USD Retakes $85.00; Bearish Risks Persist
Silver (XAG/USD) gains some positive traction during the Asian session on Friday and climbs back above the $85.00 mark in the last hour. The white metal, for now, seems to have snapped a two-day losing streak, though it remains on track to end the week on a flattish note.Fxstreet
Fri, Mar 13
WTI climbs above $95.50 as Iran says the Strait of Hormuz must remain closed
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict involving the United States (US), Israel, and Iran.Iran’s Mojtaba Khamenei says Strait of Hormuz must remain closed as tool to pressure enemy
Iran’s new supreme leader, Mojtaba Khamenei, said in his first public statement since being appointed that the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” CNBC reported on Thursday.WTI rallies sharply on Strait of Hormuz tensions, technicals point to further upside
West Texas Intermediate (WTI) crude Oil continues to experience extreme volatility, with prices rising more than 7.5% on Thursday as traders grow increasingly concerned about prolonged supply disruptions through the Strait of Hormuz amid the ongoing US-Iran war.Iran Supreme Leader Mojtaba Khamenei: Closure of Strait of Hormuz should continue to pressure enemy
The new Supreme Leader of Iran, Mojtaba Khamenei, issued his first statement, which was shared on Iranian TV. Khamenei said that attacks on neighboring bases will inevitably continue and that Iran will not refrain from avenging the blood of its martyrs.US signals SPR swaps amid Hormuz tension, Oil prices remain supported
In interviews with CNBC and CNN reported by Reuters, US Energy Secretary Chris Wright said that any release of Oil from the Strategic Petroleum Reserve (SPR) would likely take the form of swaps, designed to address short-term supply disruptions without direct costs to taxpayers.Featured Tools
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