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IEA sees Oil market still significantly oversupplied despite higher demand forecast – Commerzbank
The International Energy Agency (IEA) has left its forecast for the increase in global Oil demand virtually unchanged. It expects growth of 740 thousand and 760 thousand barrels per day this year and next year respectively. However, demand momentum is expected to slow over the course of the year.
Fxstreet
May 16, 2025
US natural gas prices drop 3.7% on storage data – ING
US natural gas prices fell sharply after storage data from the EIA revealed a larger-than-average inventory build, reinforcing concerns over supply resilience despite year-on-year deficits, ING's commodity experts Ewa Manthey and Warren Patterson note.Fxstreet
May 16, 2025
Palladium price today: Rare metals down at the start of the European session
Platinum Group Metals (PGMs) trade with a negative tone at the beginning of Friday, according to FXStreet data. Palladium (XPD) changes hands at $959.22 a troy ounce, with the XPD/USD pair easing from its previous close at $964.05.
Fxstreet
May 16, 2025
Gold price stalls recovery from over one-month low near 200-period SMA on H4
Gold price (XAU/USD) struggles to capitalize on the previous day's strong recovery move from the $3,120 region, or the lowest level since April 10, and attracts some sellers during the Asian session on Friday.Fxstreet
May 16, 2025
WTI declines below $61.50 amid hopes of US-Iran nuclear deal
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.20 during the Asian trading hours on Friday. The WTI price edges lower on expectations that the United States (US) and Iran may soon reach a deal over Tehran’s nuclear program.Gold price skyrockets on soft US data, falling US yields and geopolitical jitters
Gold price rallied sharply on Thursday after hitting a weekly low of $3,120, posting solid gains of over 1.40%, boosted by broad US Dollar weakness due to a nifty Producer Price Index (PPI) report in the United States (US).Fxstreet
May 15, 2025
WTI Crude consolidates near $61 after sharp drop, pressured by rising stockpiles and Iran outlook
West Texas Intermediate (WTI) Oil remains under pressure on Thursday, trading near $61.20 during the American session after declining for a second straight day. The commodity briefly fell over 3% earlier in the day before finding near-term support at the $60.00 psychological level.Gold price rebounds above $3,200 as US PPI and Retail Sales miss estimates
Gold prices recovered some ground earlier during the North American session after US economic data suggested that factory gate inflation continues to decelerate while consumer spending debilitated due to US tariffs. At the time of writing, the XAU/USD trades at $3,202, up by 0.82%.Fxstreet
May 15, 2025
Gold: Continues to trade with heavy bias – OCBC
Gold has continued to trade with a heavy bias as tariff de-escalation momentum gained pace, while Fed cut expectations was scaled back in terms of the timing of next cut and quantum. Gold was last at 3174.52 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.Fxstreet
May 15, 2025
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