commodities4.13 min read
Gold Holds Firm Near $4,075 as Iran Pause Dims Oil Push Ahead of Fed Decision
28 days ago•Source: KITCO
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142.02 min•1 month ago
Oil Hold Ground Near Pre-Iran War Levels as OPEC+ Boosts Output Plan
Oil prices hovered around levels seen before the Iran conflict as OPEC+ agreed to lift output targets from August and Saudi price cuts signaled more supply, with Brent near $72 and WTI around $68 amid recovering Gulf exports and ongoing Hormuz shipping talks.
181.25 min•2 months ago
Oil slides to early-March lows on Iran deal boosting supply outlook
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JPMorgan trims gold outlook on cooler demand, eyes second-half rebound
JPMorgan cut its 2026 gold price forecast to $5,243/oz from $5,708 due to softer near-term demand, but keeps a bullish longer-term view with a year-end target around $6,000/oz; the pullback is seen as a pause, with demand expected to reaccelerate in H2 as inflation tail risks ease after potential Iran-related D/E developments and a possible Strait of Hormuz reopening. The bank also trimmed its 2026 central-bank purchases to 640 tonnes and ETF inflows to about 400 tonnes, while warning that a strong U.S. jobs market and higher inflation could prompt Fed rate hikes and ETF outflows. Gold remains range-bound near $4,340–$4,730, with catalysts including geopolitical developments and policy signals shaping the path to a recovery.
Gold gains as dollar softens and Iran fears add inflation risk
Gold prices rose as the dollar eased and Iran-related supply worries kept inflation risk in focus, with traders awaiting upcoming U.S. inflation data and Federal Reserve cues; spot gold traded around $4,640 per ounce and June futures near $4,651, while Brent crude stayed elevated.
Oil slips as US-Iran talks gain traction, easing supply fears
Oil prices fell by around $1 as markets reassessed supply risks tied to potential progress in U.S.–Iran peace talks, with Brent at about $94.44 a barrel and WTI near $87.95 for the front month (June around $86.18). The market had rallied earlier on Iran’s Strait of Hormuz disruption and a U.S. cargo seizure, but the outlook now hinges on whether talks extend the ceasefire and avert further supply shocks; Kuwait declared force majeure on shipments, and Citi warned disruptions could persist into late 2026, underscoring that the supply risk remains.
Oil dips as Iran talks hopefuls ease Hormuz supply fears
Oil prices fell after signs that US-Iran talks could resume, easing fears of supply disruptions from the Strait of Hormuz. Brent traded around $98.72 a barrel and WTI around $96.65 as markets weighed potential flows again, despite ongoing disruption concerns noted by the IEA.
Oil sails past $115 as Middle East tensions widen oil-supply risks
Oil prices jumped as Brent traded around $115 a barrel and WTI near $101, after Yemen’s Houthis attacked Israel and Iran-related tensions intensified, underscoring supply-disruption risks and a persistent risk premium amid regional hostilities and ongoing U.S. deployments in the Middle East.
Oil climbs as Iran conflict tests supply fears, but weekly decline looms
Oil prices rose on Friday but markets were set for their first weekly decline since the Iran‑led conflict began, with Brent around $109.88 a barrel and WTI near $96. The market remains focused on potential duration of the war and disruption to global supplies (the IEA says roughly 11 million barrels per day have been removed from supply). Trump paused attacks on Iranian energy facilities and weighing ground action to seize Kharg Island, keeping fears of prolonged disruption — and a possible spike in prices if fighting intensifies — while some analysts see potential for a decline if de‑escalation occurs, keeping prices above pre-crisis levels.
Gold Drops as Oil Takes the Spotlight, Goldman Sees Dip as Opportunity
Gold prices have fallen as gold’s traditional hedge against a stronger dollar wanes amid tighter financial conditions and position unwinds. Goldman Sachs argues crude is the lead driver for markets, lifting near‑term oil forecasts after disruptions in the Strait of Hormuz, withOil near 110 (XBR/USD) in the near term and 2026 forecasts of Brent around 85 and WTI around 79. The pullback in gold is not seen as a lasting shift in the long‑term thesis; instead, it’s viewed as a potential buying opportunity for long‑term investors, albeit with near‑term volatility likely as derivatives moves and energy-price dynamics play out.
Oil prices rally as Middle East attacks persist
Oil prices climbed more than 2% in European trading as the Middle East conflict persisted, with Brent up about 2.5% to $102.42 a barrel and WTI up about 2.8% to $90.67 a barrel. Markets were buoyant on the move despite Iran denying talks with the U.S., contradicting Trump’s claims, and ongoing tensions around supply routes like the Strait of Hormuz.
Oil swings on Iran tensions vs sanctions relief, eyes on Middle East energy
Oil prices swung between gains and losses as traders weighed threats to energy facilities from the US–Iran crisis against Washington’s temporary relief on Iranian oil sanctions. Brent traded around $112.84/bbl and WTI near $98.75/bbl, with the Brent–WTI spread at multi‑year highs. Analysts said escalation could keep prices elevated even if Hormuz reopens, as Gulf energy assets are damaged and Iraqi Basra production is cut. India and other buyers are examining Iran purchases, while the IEA’s Fatih Birol called the crisis very severe, underscoring risk to global energy flows.
Gold edges higher as Iran conflict dims bets on rate cuts
Gold edged up in European trading but remains on track for a deep weekly loss as the Iran conflict raises inflation worries and dents bets on near-term rate cuts; spot gold around $4,657/oz and futures near $4,658/oz, with the week’s decline about 8% as the dollar weakens and energy price pressures cloud central bank policy.