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Saudi Arabia says drones and missiles still targeting kingdom as Houthis step up attacks
Saudi Arabia said that it faces more drones and missile strikes, while several countries issued travel warnings against visiting the kingdom following deadly strikes on Riyadh’s airport by Iran-backed Houthi militants, CNBC reported on Monday.
Fxstreet
Mon, Oct 12
Gold tumbles as Oil shock fuels US Dollar rally and Fed hike bets
Gold (XAU/USD) price drifts lower by about 1.49% on Monday as the Greenback gains ground amid escalating hostilities in the Middle East, pushing energy prices higher and increasing the likelihood of higher interest rates globally.
Fxstreet
Mon, Oct 12
WTI hits two-week high Middle East tensions overshadow Russian diesel supplies
West Texas Intermediate (WTI) Oil reverses course on Monday and climbs to a two-week high as doubts over a Russia-Ukraine energy ceasefire and supply concerns in the Middle East keep a geopolitical premium in energy markets.
WTI rebounds as Middle East tensions clash with Russia-Ukraine peace hopes
West Texas Intermediate (WTI) US Oil rises by 1.00% on Monday, trading around $91.90 at the time of writing. Crude Oil prices are supported by escalating geopolitical tensions in the Middle East, despite prospects of an energy ceasefire between Russia and Ukraine that could ease supply concerns.
Oil: Supply risks offset by Russia diesel deal – ING
ING analysts Warren Patterson and Ewa Manthey note that Oil prices are weaker despite heightened Middle East tensions, as strong Persian Gulf flows and a US-Russia diesel deal weigh on the market. They highlight that additional Russian diesel exports and a possible Russia-Ukraine energy ceasefire are pressuring middle distillate cracks, while inefficient Middle East trade flows and high freight rates keep refined product prices elevated.Fxstreet
Mon, Oct 12
Gold drifts higher above $4,200 on surging ETF inflows, markets await US inflation data this week
Gold price (XAU/USD) gains ground to near $4,215 during the early Asian session on Monday. The precious metal extends the rally amid rising demand for bullion-backed exchange-traded funds and a weaker US Dollar (USD).Fxstreet
Mon, Oct 12
Gold reclaims $4,200 as weak US sentiment revives bullion demand
Gold (XAU/USD) price advances more than 1.40% on Friday, capitaliszng on a dip in US Treasury yields and a softer Greenback, as recent US data suggests households are becoming pessimistic about the economy, while investors seem confident that the Federal Reserve (Fed) will stay pat on rates.Fxstreet
Fri, Oct 9
WTI holds steady as traders weigh US-Iran tensions and supply risks
West Texas Intermediate (WTI) Oil trades little changed on Friday as traders weigh easing fears of an immediate US-Iran military escalation against persistent supply risks in the Strait of Hormuz. At the time of writing, WTI trades around $90.65 per barrel, up 0.10% on the day.Gold: Short covering signals renewed bullish momentum - TD Securities
TD Securities’ Ryan McKay and Bart Melek highlight that CTAs (Commodity Trading Advisors) are covering Gold shorts, with positioning rising by around 7% of maximum historical size. They note renewed inflows into Chinese Gold ETFs after the holiday and continued global ETF demand.Fxstreet
Fri, Oct 9
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