Articles by Rebecca Torres
Brent-WTI Spread Widens to 11-Year High Amid Gulf Supply Shocks
Brent crude prices jumped nearly 7% following Iranian missile strikes on Gulf energy infrastructure, while U.S. benchmark WTI saw muted gains. The divergence pushed the discount for WTI versus Brent to its widest level in over a decade.
Gold Slides to One-Month Low Amid Dollar Strength, Fed's Hawkish Stance
Gold declined to its lowest level since early February, pressured by a robust U.S. dollar and the Federal Reserve's commitment to maintaining elevated interest rates. Spot gold fell 1.1% to $4,764.27 per ounce.
Silver Plunges on Hawkish Fed, Dollar Strength, and Oil Shock
Spot silver fell 4.3% to $72.14 per ounce Thursday, with U.S. futures dropping over 6%, pressured by expectations for prolonged high interest rates and a robust dollar.
Iran Strikes Gulf Energy Hubs, Sending Oil Past $112 and LNG Supply into Crisis
Oil prices spiked above $112 a barrel following Iranian strikes on energy infrastructure in Qatar, Saudi Arabia, and the UAE, crippling LNG output and raising fears of prolonged supply disruptions. European gas prices have jumped over 60% since the conflict began.
Iran Threats Spark 5% Oil Surge, Brent Tops $108 Amid Gulf Tensions
Oil prices jumped sharply as Iran threatened strikes on Gulf energy infrastructure, pushing Brent crude up 5% to $108.56 a barrel. The escalation offset a large U.S. crude inventory build, with traders focused on geopolitical risks.
European Gas Prices Surge on Geopolitical Tensions, Qatar LNG Outage
European natural gas prices surged Wednesday amid fresh Middle East tensions and a prolonged outage at Qatar's major LNG export facilities, driving benchmark contracts sharply higher.
Gold Tumbles to One-Month Low as Inflation Fears Boost Fed Rate Outlook
Gold declined 2.6% to $4,874.19 per ounce, hitting its lowest level since early February. The sell-off was driven by a stronger dollar and surging energy prices, which reinforced market bets that the Federal Reserve will delay rate cuts.
U.S. Fuel Prices Surge Despite Crude Oil Retreat
U.S. gasoline and diesel prices climbed sharply this week despite falling crude oil prices, highlighting severe refined product shortages. China's fuel export ban is exacerbating global supply constraints.
Petrobras Acquires Petronas Stakes in $450M Deal Amid $100 Oil
Petrobras shares gained after the Brazilian state oil firm agreed to purchase Petronas' interests in two offshore fields for $450 million. The deal comes as Brent crude prices settle above $100 a barrel, influencing dividend discussions.