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Commodities
Gold stalls near US$4,500 amid stronger US dollar
Gold prices struggled to maintain upward momentum during Thursday's Asian deals, hovering just above the US$4,500 level. By 3:30 pm AEDT (4:30 am GMT), spot gold was trading 0.3% higher at $4,519.40 per ounce. The precious metal snapped a two-day recovery streak, with price action reflecting growing uncertainty around developments in the Middle East. Conflicting signals over potential ceasefire negotiations between the United States and Iran have fuelled volatility across financial markets. Safe-haven demand has been split, with the U.S. dollar attracting renewed buying interest amid escalating tensions, limiting gold’s upside. Typically, both assets benefit during periods of heightened risk, but the dollar’s relative strength has weighed on bullion. United States President Donald Trump has continued to assert that negotiations with Iran are underway. However, Tehran has repeatedly denied engaging in direct talks. Iranian Foreign Minister Abbas Araghchi said the U.S. proposal had been “passed on to the country’s senior authorities” but emphasised that Iran has “no intention of negotiating for now”. Instead, Iran has outlined its own five-point framework, which includes conditions such as ending hostilities,
Commodities
Oil rebounds; investors reassess ceasefire prospects
Oil prices climbed during Thursday's Asian deals, recovering some of the previous session’s losses as investors reassessed the likelihood of a ceasefire in the Middle East and weighed escalating risks to global supply. By 2:40 pm AEDT (3:40 am GMT), Brent crude futures rose $1.78, or 1.7%, to $104.00 per barrel, while United States West Texas Intermediate crude futures gained $1.44, or 1.6%, to $91.80 per barrel. The rebound followed a sell-off on Wednesday, when both benchmarks fell more than 2%. Market sentiment shifted after Iran signalled it was not prepared to engage in direct talks to end the conflict. Analysts at ANZ said: "However, oil prices unwound moves following reports on Iranian state media that an unnamed senior security official has listed five conditions for the U.S. and Israel to end the conflict. "Iran also fired a new wave of missiles at Israel, signalling little willingness to compromise. This raised concerns that the fighting continues to escalate, despite talks. “The emergence of an off-ramp for Trump has seen investors start to unwind long positions in the futures market.” Geopolitical tensions remain elevated, with Donald Trump warning that Washington would intensify its response if Te
Commodities
Gold extends gains amid rising ceasefire optimism
Gold prices extended their recovery during Wednesday's Asian deals, as markets reacted to growing optimism around reports of renewed diplomatic efforts between the United States and Iran. By 3:15pm AEDT, spot gold had climbed 2.2% to US$4,573.69 per ounce, with prices approaching the key US$4,600 level. The rebound in gold comes as investors rotated back into risk assets, reducing demand for the greenback as a defensive play. Reports that Washington is pursuing a ceasefire agreement with Tehran have helped ease geopolitical concerns, providing support to broader financial markets. According to Reuters, “The U.S. is seeking a month-long ceasefire and had sent a 15-point plan to Iran for discussion, raising hopes for a resumption of oil exports out of the Persian Gulf.” The prospect of de-escalation has also weighed on oil prices, alleviating fears of sustained supply disruptions and moderating concerns about inflation and interest rates. This shift has contributed to a broader risk rally, with U.S. Treasury yields declining alongside the U.S. dollar, creating a more favourable environment for non-yielding assets such as gold. Market participants remain cautious, however, given the lack of clarity surrounding t
Commodities
Oil prices slide on Iran ceasefire hopes
Oil prices retreated during Wednesday's Asian trade, retreating from the previous session’s strong gains as prospects of a potential ceasefire between the United States and Iran raised hopes of easing supply disruptions across the Middle East. By 3 pm AEDT (4 am GMT), Brent crude futures had dropped $4.51, or 4.3%, to US$99.98 per barrel. U.S. West Texas Intermediate crude futures declined $3.25, or 3.5%, to US$89.10 per barrel. The pullback followed a near 5% rally in both benchmarks on Tuesday. Market sentiment shifted after indications of diplomatic progress emerged. U.S. President Donald Trump said on Tuesday that Washington was making headway in negotiations to end the conflict with Iran, while the New York Times reported that the United States had delivered a 15-point proposal aimed at reaching a settlement. According to reports, the proposal includes a month-long ceasefire period to facilitate discussions. The plan outlines key conditions, including the dismantling of Iran’s nuclear programme, the cessation of support for proxy groups, and the reopening of the Strait of Hormuz. Additional diplomatic signals came from Pakistan, with the country’s prime minister offering to host talks between the United States
Commodities
Shell warns Europe of imminent fuel crunch
Europe could face fuel shortages within weeks as disruptions from the Middle East conflict tighten global energy supplies, Wael Sawan, chief executive of Shell, warned, signalling a potential escalation of the energy crisis that has already forced consumption cuts across parts of Asia. Speaking at the CERAWeek conference in Houston, Sawan said the impact of the conflict - now in its fourth week - was moving west through global markets and could reach Europe as early as April. “Countries cannot have national security without energy security,” he said, urging governments to prepare contingency measures including demand reduction, increased storage and coordinated purchasing. The warning underscores a rapidly tightening supply outlook driven by the near-closure of the Strait of Hormuz, a critical chokepoint that handles about 20% of global oil and liquefied natural gas flows. Disruptions there have already reduced the availability of refined fuels, with jet fuel shortages emerging first and diesel expected to follow, according to Sawan’s remarks. European governments are now assessing whether to revive demand-side interventions similar to those deployed during the 2022 energy crisis. The International Energy Agency

Commodities
Gold falls for 10th day amid war-driven inflation fears
Gold prices extended their losing streak to a tenth consecutive session on Tuesday, pressured by rising bond yields, a firmer United States dollar and growing expectations that central banks may need to tighten policy further amid persistent inflation risks. The precious metal declined during the Asian session, struggling to sustain a modest overnight rebound from a four-month low of US$4,099.13 level. By 3:25 pm AEDT (4:25 am GMT), spot gold was down 1.7% at US$4,332.03 per ounce. Ongoing conflict in the Middle East continues to fuel inflation concerns, with the war between the United States and Iran contributing to elevated energy prices and dampening expectations for near-term interest rate cuts. This has weighed on gold, which typically underperforms in a higher interest rate environment due to its non-yielding nature. Iran’s denial of any negotiations with the United States also contributed to market uncertainty. Tehran contradicted comments by President Donald Trump, who had suggested that a deal to end the conflict could be reached soon. Geopolitical tensions have also intensified following renewed attacks on Iran’s energy infrastructure. Combined with the effective closure of the Strait of Hormuz, this ha
Commodities
Oil rebounds as Iran denies US talks
Oil prices rebounded in Asian trading on Tuesday, reversing sharp losses from the previous session as Iran denied holding talks with the United States, reigniting concerns over supply disruptions in the Gulf. By 2:40 pm AEDT (3:40 am GMT) Brent crude futures rose $4.02, or 4%, to US$103.96 per barrel, while U.S. West Texas Intermediate (WTI) gained $3.33, or 3.8%, to $91.46 per barrel. The gains came after Tehran rejected claims by President Donald Trump that negotiations were underway to resolve the conflict, contradicting earlier optimism that had triggered a steep sell-off in oil markets. Crude prices had fallen more than 10% on Monday after Trump said he had ordered a five-day delay to planned attacks on Iran’s power plants and stated that the U.S. had held productive discussions with Iranian officials, yielding “major points of agreement”. However, Iranian authorities dismissed the claims, describing them as an attempt to influence financial markets. Iran’s Revolutionary Guards said they had launched new attacks on U.S. targets and labelled Trump’s comments as “worn-out psychological operations”. Supply concerns remain elevated, with the conflict severely disrupting flows through the Strait of Hormuz, a crit
Commodities
Gold hits 2mth lows as war supports US dollar
Gold prices extended their decline in Asian trade on Monday, falling to fresh two-month lows as a stronger U.S. dollar and rising bond yields offset safe-haven demand despite escalating tensions in the Middle East. Spot gold dropped 2.7% to $4,376.46 per ounce in Asian trade, after briefly slipping below the $4,350 level earlier in the session. The move marks a continuation of last week’s sharp sell-off, during which the metal lost more than 10.4%. The decline comes as the U.S. dollar index (DXY) strengthens alongside rising U.S. Treasury yields, driven by growing expectations that inflation pressures linked to the conflict involving Iran could delay or limit interest rate cuts. Geopolitical developments have added complexity to the outlook. Escalating tensions involving the United States, Iran and Israel have heightened concerns over energy supply disruptions, fuelling inflation fears and reinforcing expectations of tighter monetary policy globally. Central banks have adopted a more hawkish stance in response. The Federal Reserve raised its inflation outlook and signalled limited scope for rate cuts, while the Bank of England and European Central Bank have indicated a willingness to tighten policy further if price
Commodities
Oil prices push higher amid US-Iran threats
Oil prices were trading higher during Monday's Asian trade as investors weighed escalating threats between the United States and Iran against the prospect of increased global supply following a temporary easing of U.S. sanctions last week. By 3:05 pm AEDT (4:05 am GMT), Brent crude futures rose $0.75, or 0.7%, to $112.94 per barrel after closing at their highest level since July 2022 in the previous session. U.S. West Texas Intermediate crude gained $1, or 1%, to $99.23 per barrel, extending gains after a 2.3% rise on Friday. Market sentiment remained highly sensitive to geopolitical developments. U.S. President Donald Trump over the weekend threatened to “obliterate” Iran’s power infrastructure if Tehran failed to fully reopen the Strait of Hormuz within 48 hours, a key artery for global energy shipments. Iran responded with strong warnings, with Parliament Speaker Mohammad Baqer Qalibaf stating that energy and critical infrastructure across the Middle East could be irreversibly destroyed if Iranian facilities were targeted. The escalating rhetoric underscores the severity of the crisis, with International Energy Agency Executive Director Fatih Birol describing the situation as “very severe” and potentially worse t