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Saudi Arabia's shipments increased by 450,000 bpd in June, marking the highest levels in over a year
Upcoming week includes ISM Manufacturing PMI and Nonfarm Payrolls report for June
OPEC+ plans to increase output by 411,000 barrels per day starting in August
The market has largely eliminated the geopolitical risk premium after the ceasefire announcement
Investors await Federal Reserve comments for future direction amid fluctuating gold prices
Crude inventories dipped 5.8 million barrels, the EIA said, exceeding analysts' expectations for a 797,000-barrel decline
The U.S. dollar fell to its lowest level since March 2022, making gold less expensive for holders of other currencies
In the Asian stock market, Japan’s Nikkei rose 0.3 percent and Taiwan’s benchmark climbed 1.09 percent
Concerns rise over the Strait of Hormuz, through which nearly a fifth of global oil flows
Spot gold was up 0.2 percent at $3,328.89 per ounce after recent lows
S&P 500 futures gained 0.80 percent and Nasdaq futures rose 1.13 percent
Investors expect a return to normalcy in oil if the ceasefire terms are upheld
U.S. Fed Vice Chair Michelle Bowman stated the time for cutting interest rates is approaching
EFG Holding distributed 20.488 percent of Valu’s capital, enabling direct shareholder participation in growth
Goldman Sachs predicts Brent could peak at $110 if oil flows through the strait are disrupted
Investors shifted to the dollar following U.S. airstrikes, impacting gold and commodity markets
Trump will decide whether the U.S. will get involved in the Israel-Iran conflict in the next two weeks, the White House said
A stronger dollar and prospects of fewer U.S. interest rate cuts weighed on investor sentiment this week
Lower Iranian supply and risk of wider disruption could push Brent crude above $90, said Goldman Sachs.
Gold, which hit a record high of $3,500 in April, has moved into a consolidation phase while awaiting the next potential bullish trigger
Analysts predict gold prices could reach $3,700 per ounce by the end of 2025
Fed discussions this week may lead to a 25 basis point rate cut sooner than expected
Announcement forms part of DMCC’s ongoing efforts to establish the DMCC Water Center
Oil was pressured by mixed economic readings from China, signaling inconsistent growth in its economy
