Commodities - Azzet - Business news, investments companies & executives

Sign inJoin Now

Commodities

Commodities
Gold slips as USD firms amid reports of US-Iran talks
Gold prices edged lower on Wednesday, retreating from recent highs as the United States dollar regained strength and investors adopted a cautious stance ahead of potential renewed peace talks between the United States and Iran. Spot gold fell 0.4% to US$4,820.11 per ounce by 4:05pm AEST (6:05 am GMT), pulling back from a four-week high of US$4,871 reached earlier in the Asian session. The decline comes as the U.S. dollar found support after falling to six-week lows, dampening demand for bullion despite ongoing geopolitical uncertainty. Market sentiment has been underpinned by cautious optimism surrounding diplomatic efforts. U.S. President Donald Trump said earlier this week that talks with Iran could resume within days, raising hopes of a potential resolution to the conflict. At the same time, signs of stabilisation in the Strait of Hormuz, alongside the impact of a U.S. naval blockade, have contributed to a pullback in oil prices, easing inflation concerns and reducing demand for safe-haven assets such as gold. Despite the improvement in risk sentiment, investors remain cautious amid reports of a potential second round of U.S.-Iran negotiations. Additional concerns have also emerged after reports that Iran is w
Commodities
Oil prices tick up as traders weigh Hormuz risks
Oil prices traded higher during Wednesday's Asian deals as ongoing supply uncertainty in the Middle East offset growing optimism that renewed diplomatic talks between the United States and Iran could ease tensions. By 3:10 pm AEST (5:10 am GMT), Brent crude futures rose 91 cents or 1% to US$95.70 per barrel, recovering from earlier losses after falling 4.6% in the previous session. Meanwhile, West Texas Intermediate crude added 40 cents or 0.4%, to $91.05 per barrel. Markets remain caught between hopes of a diplomatic resolution and concerns over disrupted supply, particularly as the Strait of Hormuz, a critical artery for global oil flows, remains largely shut. U.S. President Donald Trump said on Tuesday that talks to end the conflict involving the U.S., Israel and Iran could resume in Pakistan within days, following the collapse of negotiations over the weekend. The breakdown in talks prompted Washington to impose a blockade on Iranian ports, raising the stakes for global energy markets. Despite the setback, the prospect of renewed negotiations has lifted expectations that a resolution could eventually restore crude and fuel flows from the region. However, supply risks remain elevated. United States Central
Commodities
Gold ticks up on US-Iran diplomacy hopes
Gold prices edged higher in Asian trading on Tuesday, supported by growing optimism that the United States and Iran could resume peace negotiations, although ongoing tensions in the Strait of Hormuz continued to cap gains. By 3:45 pm AEST (5:45 am GMT), spot gold was up 0.4% at US$4,761.18 per ounce, holding above the $4,750 level as investors balanced improving risk sentiment against lingering geopolitical uncertainty. The precious metal extended its recent rebound as hopes for renewed diplomacy between Washington and Tehran boosted market confidence. Recent remarks from President Donald Trump and Vice President JD Vance have fuelled expectations that another round of talks could take place in the coming days. According to sources cited by the Associated Press, U.S. and Iranian officials are considering fresh in-person negotiations aimed at ending their six-week conflict before the current ceasefire expires next week. Discussions remain ongoing, with Islamabad and Geneva reportedly under consideration as potential venues, and talks possibly resuming as early as Thursday. Trump reinforced the possibility of renewed engagement, stating that “we’ve been called by the other side” and that “they want to work a deal”.
Commodities
Oil drops; investors optimistic on US-Iran dialogue
Oil prices declined during Asian trading on Tuesday as signs of renewed dialogue between the United States and Iran eased concerns over supply disruptions stemming from the ongoing blockade of the Strait of Hormuz. By 3:20 pm AEST (5:20 am GMT), Brent crude futures fell $1.44, or 1.5%, to US$97.92 per barrel, while U.S. West Texas Intermediate crude dropped $2.28, or 2.3%, to $96.80 per barrel. The pullback followed sharp gains in the previous session, when Brent surged more than 4%, and WTI climbed nearly 3% after the U.S. military initiated a blockade of Iranian ports, fuelling fears of constrained global supply. On Monday, the U.S. military said the blockade would extend eastward to the Gulf of Oman and the Arabian Sea. Ship-tracking data indicated immediate disruption, with at least two vessels turning around in the Strait of Hormuz as the restrictions took effect. Iran responded by threatening to target ports in Gulf nations following the collapse of weekend negotiations in Islamabad aimed at resolving the crisis. Despite the breakdown in talks, diplomatic channels appear to remain open. Reuters reported that sources familiar with the negotiations indicated that dialogue between Tehran and Washington is ongoing
Commodities
Gold slips, US dollar rallies on Iran escalation
Gold prices edged lower during Asian deals on Monday, retreating from earlier gains as a stronger United States dollar weighed on the precious metal amid escalating tensions in the Middle East. Spot gold fell 0.6% to US$4,720.55 per ounce by 3:45 pm AEST, after briefly rebounding from an early session test near US$4,644.22. The decline came as the U.S. dollar index (DXY) strengthened, supported by safe-haven demand following the collapse of ceasefire talks between Washington and Tehran. Investors have increasingly turned to the greenback as uncertainty surrounding the two-week truce intensified. Markets remain on edge after negotiations in Pakistan failed to yield a breakthrough, raising doubts about the durability of the fragile ceasefire agreement. U.S. President Donald Trump escalated rhetoric over the weekend with plans to impose a blockade on the Strait of Hormuz and reiterating warnings of potential strikes on Iran’s energy infrastructure. According to The Wall Street Journal, Trump and his advisers are also considering limited military action in response to the breakdown in talks. The U.S. military confirmed that enforcement measures are imminent. United States Central Command said forces would begin bl

Commodities
Oil resumes climb above US$100 on Hormuz blockade
Oil prices surged above US$100 a barrel during Asian deals on Monday as the United States prepared to enforce a naval blockade on Iranian ports, heightening concerns over global supply disruptions after Washington and Tehran failed to reach a ceasefire agreement. By 3:15 pm AEST (5:15 am GMT) Brent crude futures rose $6.98 or 7.3% to $102.18 per barrel, while U.S. West Texas Intermediate climbed $8.25 or 8.5% to $104.73 per barrel. The rally followed comments from Donald Trump, who said the U.S. Navy would begin blockading the Strait of Hormuz, a critical shipping route for global oil flows, after extended negotiations with Iran failed to produce a breakthrough. Trump acknowledged the economic implications of the move, noting that energy prices could remain elevated through November’s midterm elections. Ryan Wells, economist at Westpac Group, noted: "Reports suggest Iran is open to further talks during the ceasefire period and safe commercial shipping, but Iran has also threatened to act against any military vessels transiting through the Strait. This follows two U.S. Navy vessels safely passing through over the weekend, purportedly to assess if mines had been laid." The U.S. military confirmed that enforcement meas
Commodities
Gold steady as US CPI looms, M.East risks persist
Gold prices traded within a narrow range during Friday’s Asian session as investors turned their attention to upcoming United States inflation data, while ongoing geopolitical tensions in the Middle East continued to shape sentiment. By 3:40 pm AEST (5:40 am GMT), spot gold was little changed at US$4,764.70 per ounce, as market participants remained cautious ahead of the latest U.S. consumer price index (CPI) release. The inflation report is expected to show a further rise in consumer prices in March, driven in part by higher crude oil costs linked to the conflict in the region. A stronger reading could also reinforce expectations that the Federal Reserve will delay interest rate cuts. Meanwhile, developments around the Strait of Hormuz have supported the U.S. dollar index (DXY), which has in turn weighed on gold prices. Iran has halted shipping traffic through the key waterway following Israeli strikes on Lebanon, exacerbating concerns over global energy supply and inflation. Donald Trump criticised Iran’s handling of oil flows through the Strait, warning of renewed military action if the ceasefire agreement fails. Elevated oil prices continue to fuel inflation expectations and support a more hawkish outlook
Commodities
Oil rises as Hormuz flows remain constrained
Oil prices edged higher during Friday's Asian deals as renewed concerns over supply disruptions in Saudi Arabia and severely restricted tanker traffic through the Strait of Hormuz kept markets on edge. Despite the gains, crude benchmarks remained on track for steep weekly losses as investors weighed the impact of a fragile ceasefire between the United States and Iran, alongside signs of potential diplomatic progress in the region. By 2:45 pm AEST (4:45 am GMT), Brent crude futures rose $0.52, or 0.5%, to $96.44 per barrel, while West Texas Intermediate futures gained $0.36, or 0.4%, to $98.23 per barrel. However, both contracts have declined sharply over the week, with Brent down 11.5% and WTI off by 11.8%. Fresh supply concerns emerged after reports that attacks on Saudi energy infrastructure had significantly curtailed output. According to reporting from The Business Times, strikes reduced production capacity by around 600,000 barrels per day and cut throughput on the East-West Pipeline by approximately 700,000 bpd. Meanwhile, shipping activity through the Strait of Hormuz remained severely constrained, operating at less than 10% of normal volumes despite the ceasefire agreement. Iran has continued to assert co
Commodities
Gold steady as ceasefire doubts linger
Gold prices were little changed during Thursday’s Asian session, pausing after sharp volatility in the previous session as investors weighed geopolitical risks against monetary policy signals. Spot gold was trading near flat at $4,721.16 per ounce as of 3:40 pm AEST (5:40 am GMT), hovering around the $4,700 level amid uncertainty over a fragile ceasefire in the Middle East. Ongoing doubts over the agreement between Washington and Tehran have supported the dollar, even as minutes from the Federal Reserve signalled a more dovish policy outlook. Gold’s direction remains finely balanced as investors assess conflicting forces. On one hand, geopolitical tensions, particularly continued Israeli strikes on Hezbollah targets in Lebanon, have raised concerns that the ceasefire may not hold. On the other hand, expectations of potential U.S. rate cuts have offered some support for the precious metal. “Many participants judged that, in time, it would likely become appropriate to lower the target range for the federal funds rate if inflation were to decline in line with their expectations,” the Fed said in its latest meeting minutes. Iranian Foreign Minister Abbas Araghchi indicated that the ceasefire announcement included Leb