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WTI Price Forecast: Climbs above $86.00 as 100-day SMA breakout comes into play
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts buyers for the second straight day on Tuesday as escalating US-Iran tensions and the standoff over the Strait of Hormuz continue to fuel supply concerns.
Silver Price Forecast: XAG/USD trades flat around $66.60 ahead of US data
Silver price (XAG/USD) trades in a tight range at around $66.67 during the Asian trading session on Tuesday. The white metal consolidates as investors await the United States (US) ISM Manufacturing PMI data for August and the JOLTS Job Openings data for July, which will be published at 14:00 GMT.
WTI holds above $85.50 as Middle East risks tighten global supply
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.
UKMTO reports tanker struck by three projectiles during outbound transit of Strait of Hormuz
The United Kingdom Maritime Trade Operations (UKMTO) said on Monday that a tanker ‌has reported being ‌struck by three projectiles while sailing out ‌of the ‌Strait of Hormuz, Reuters reported.
Crude Oil prices the mines, not the barrels
Crude Oil trades near $85.00 and 2.5% higher on the session on Monday, after American forces struck two Iranian rocket launchers on Larak Island and Tehran answered with missile and drone attacks on two air bases in Jordan.
US Treasury Secretary Bessent says Oil prices to fall, Yen to strengthen
Scott Bessent, the US Treasury Secretary, crossed the wires in an interview with CNBC, saying Oil prices will come down and that US President Donald Trump has been saying that Iran is not ready for a deal.
Oil: geopolitical support and Venezuela deal risk – BNY
BNY’s Wee Khoon Chong notes Oil prices are underpinned by renewed U.S.–Iran tensions near the Strait of Hormuz and President Trump’s claim of a deal granting U.S. majority control over Venezuela’s vast reserves.
WTI Oil appreciates beyond $85.50 as tensions rise in Iran
Crude prices rally on Monday, with the US benchmark West Texas Intermediate (WTI) trading at $85.50 per barrel at the time of writing, more than 3% up on the day so far, drawing close to one-month highs, at $87.38.
Asian stock markets face slight pressure from renewed geopolitical risks, hawkish Fed bets
Asian equity markets remain under pressure at the start of the week, as risk sentiment turns sour due to renewed tensions in the Middle East and a sharp increase in Federal Reserve (Fed) interest rate hike expectations.
Brent: Hormuz tensions keep prices supported above $90 - ING
ING analysts Warren Patterson and Ewa Manthey note that oil prices, including ICE Brent, started the week stronger after US strikes on Iran raised concerns over Persian Gulf supply.
Indian Rupee faces headwinds from Middle East risks, hawkish Fed bets
The Indian Rupee (INR) opens slightly lower against the US Dollar (USD) at the start of the week. The USD/INR pair ticks up to near 95.43, as higher oil prices due to renewed tensions between the United States (US) and Iran have weighed on the Indian currency.
WTI rises to near $84.50 as IRGC claims supertanker struck by mines in Hormuz
West Texas Intermediate (WTI) rebounds and continues its intraday gains, trading around $84.40 per barrel during the Asian hours on Monday.
United States Dollar Index trades slightly lower at the start of the US NFP week
The US Dollar (USD) is slightly down in the Asian trading session at the start of the week. The US Dollar Index (DXY), which gauges the Greenback’s value against its peers, corrects 0.1% to near 99.58 after a strong Friday.