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WTI Oil falls as oversupply concerns outweigh recent rebound
West Texas Intermediate (WTI) US Oil trades around $68.30 at the time of writing on Monday, down 0.64% on the day, as investors continue to assess the global supply outlook following the latest production decisions by the Organization of the Petroleum Exporting Countries and its allies (OPEC+).Gold Price Forecast: XAU/USD struggles to extend recovery above 20-day EMA
Gold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.Fxstreet
Mon, Jul 6
Oil: Supply rebound and glut concerns – Commerzbank
Commerzbank’s Dr. Henry Hao and Charlie Lay highlight a structural shift in Oil as a US–Iran interim peace deal boosts crude supply and restores shipping through the Strait of Hormuz. Seven OPEC+ members will lift output again in August, raising fears of a global crude glut.Silver Price Forecast: XAG/USD holds losses below $62.50 on Fed hike bets
Silver price (XAG/USD) halts its four-day winning streak, trading around $62.30 per troy ounce during the European hours on Monday. The white metal edges lower as market expectations solidify around a Federal Reserve (Fed) interest rate hike later this year.Fxstreet
Mon, Jul 6
Oil: Diverging market paths under geopolitical camps – Rabobank
Rabobank’s Senior Market Strategist Benjamin Picton highlights that Brent has turned lower as OPEC+ eases production cuts and tanker flows through the Strait of Hormuz resume, but stresses that shipping risks remain crucial for Oil prices.Fxstreet
Mon, Jul 6
Iran confirms Strait of Hormuz service fees, rejects third-part intervention
Speaking at the World Peace Forum in Beijing on Saturday, Iran’s ambassador to China, Abdolreza Rahmani Fazli, said that Tehran is considering introducing new service fees for ships passing through the Strait of Hormuz, while promising “special" treatment for countries that supported Iran during theFxstreet
Mon, Jul 6
Silver Price Forecast: Reclaims $60 as RSI recovery targets $65 breakout
Silver prices reclaim the $60.00 mark for the second straight day and extend their weekly gains to over 5.50%, trading at $62.42 amid broader US Dollar weakness that is pushing the white metal to an eight-day high of $62.89.Fxstreet
Fri, Jul 3
Gold price climbs as weak NFP cool Fed hike bets
Gold (XAU/USD) price rises by more than 1% on Friday as investors digest a softer-than-expected US jobs report, trimming hawkish bets despite higher inflation. At the time of writing, the XAU/USD pair trades at $4,174, after bouncing off daily lows of $4,121.Fxstreet
Fri, Jul 3
WTI Crude Oil advances on softer US jobs data and lingering Middle East tensions
West Texas Intermediate (WTI) trades around $68.65 at the time of writing on Friday, up 0.30% on the day, recovering part of its recent losses as the US Dollar (USD) weakens following softer-than-expected US employment data.Featured Tools
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