Articles by Rebecca Torres
Gold Retreats as Dollar Gains on Geopolitical Tensions
Gold prices dropped sharply Thursday, erasing much of the prior day's rally, as a stronger U.S. dollar and surging oil prices shifted market focus back to inflation risks. Spot gold fell 2% to $4,660.95 an ounce.
Exxon Plunges 5.2%, Erasing $36 Billion as Iran Peace Hopes Sink Oil
Exxon Mobil shares fell sharply, erasing $36 billion in value, as crude oil prices dropped on signs of a potential end to the U.S.-Iran conflict. The energy sector sold off broadly despite gains in the wider market.
Oil Volatility Persists Near $100 as Ceasefire Hopes Clash with Supply Realities
Oil prices fluctuated sharply on Wednesday, with Brent crude touching $98.35 before recovering near $103, as hopes for a swift end to the Iran conflict were tempered by persistent supply disruptions. The IEA warned April supply losses could double March's figures.
European Gas Prices Retreat Amid Profit-Taking, EU Considers Emergency Steps
European natural gas prices declined Tuesday as traders locked in gains, with the Dutch TTF benchmark dropping 2.5%. The European Commission is preparing emergency measures as storage levels remain critically low.
Brent Crude Sees Wild Swings on Iran Peace Talk Rumors, OPEC Supply Plunge
Brent crude futures experienced extreme volatility Tuesday, with the June contract falling over $3 on rumors of a potential Iran peace deal, while expiring May Brent held gains. The market grapples with a sharp OPEC production decline and fresh Middle East supply disruptions.
Silver Surges 6.7% on Dollar Weakness, Yet Remains Down Sharply for March
Silver prices rallied sharply on Tuesday, gaining 6.7% as the U.S. dollar weakened and geopolitical concerns showed signs of easing. Despite the daily surge, the metal remains deeply in negative territory for the month of March.
Gold Rebounds 2% But Set for Worst Monthly Drop Since 2008
Gold prices climbed over 2% on Tuesday, yet the precious metal remains on track for its most significant monthly loss since the 2008 financial crisis. Silver surged nearly 5%, and Brent crude oil hovered near $118 a barrel.
Gold Posts March Rebound but Faces Worst Monthly Drop Since 2008
Gold prices climbed in early New York trading Tuesday but remained on track for their steepest monthly decline since 2008. Brent crude oil rose sharply after the Strait of Hormuz was closed due to the Iran conflict.
Oil Soars on Hormuz Closure, Gas Tops $4; Wall Street Eyes $150
Oil prices surged with Brent crude approaching $115 a barrel after an attack on a Kuwaiti tanker closed the Strait of Hormuz, disrupting global supply. The U.S. national average for gasoline has surpassed $4 a gallon.
Michigan Fuel Costs Strain Drivers as National Average Tops $4
Michigan's average gas price remains elevated at $3.915 per gallon, up 92 cents from a month ago, as the national average exceeds $4 for the first time in over three years. Filling a Ford F-150 now costs approximately $102.
Goldman Sachs Holds Firm on $5,400 Gold Forecast Despite March Rout
Goldman Sachs reaffirms its $5,400 per ounce year-end 2026 target for gold, even as the metal posts its steepest monthly decline since 2008. Divergent views from other major banks highlight market uncertainty.
EU Gas Prices Hold Near €54 as Supply Fears Mount Ahead of Winter
European benchmark gas prices remain elevated near €54 per megawatt-hour as EU ministers plan emergency talks. Storage levels are critically low at 28%, with Germany reporting higher inflation driven by energy costs.