Falling Oil Prices Signal Possible Drop in Dutch Fuel Costs
Oil prices fell after Washington and Tehran paused attacks, easing inflation fears before the Federal Reserve’s meeting, with Brent crude tumbling as much as 9.5%.
- Gold prices climbed above $4,100 an ounce on Monday as Brent crude tumbled 9.5% following three nights without attacks between Washington and Tehran.
- Iran announced Sunday it would halt attacks if Washington reciprocates, following weekend meetings between Iranian and Omani officials regarding shipping through the Strait of Hormuz.
- Independent analyst Ross Norman said precious metals started the week on the "front foot," while the U.S. dollar index fell 0.2%, lowering costs for international buyers.
- Attention is turning to the Federal Reserve's Wednesday announcement, with roughly 66% of market participants anticipating no change in interest rates, according to CNBC.
- Justin Lin, an analyst at Global X TWTR ETFs, said a "meaningful resolution" between the U.S. and Iran is required to bid gold beyond the $4,000 to $4,200 range.
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25 Articles
Falling oil prices signal possible drop in Dutch fuel costs
Oil prices dropped sharply Monday after the United States and Iran halted bombings. A barrel of Brent crude now costs just over 81 euros, compared with more than 88 euros at the end of last week. Pump prices typically lag oil market moves by a few days.The euro rose 0.3 percent against the dollar. Because oil is traded in dollars, a lower dollar value benefits the European market.
Gold, silver prices today: Comex gold and silver edge higher as easing US-Iran tensions cool oil prices
Gold and silver prices gained on 27 July, buoyed by reduced tensions in the Middle East and lower crude oil costs ahead of the US Federal Reserve's meeting. Gold rose $49 to $4,119, while silver increased by $1.50 to $60.39, reflecting a shift in investor sentiment.
Oil prices extend slide after pause on US and Iran attacks holds
Oil prices continued to slide in early Tuesday trading as the pause in the US-Iran conflict held. Brent crude futures were down 1 percent at $87.49 by 04:24 GMT, while US West Texas Intermediate fell 1 percent to $81.80 a barrel. Prices dropped almost 8 percent on Monday after crude crossed $100 a barrel last week following the Houthi Red Sea blockade. Both Brent and WTI are up 30 percent so far this year. US President Donald Trump said on Monda…
Oil prices continued to decline on Tuesday after the end of the US attack series last weekend.
Gold prices rose and oil prices fell as tensions between the US and Iran eased somewhat. Attention is now focused on the Federal Reserve's interest rate decision. Inflationary pressures from rising energy prices could influence the decision.
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