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1 07, 2026

oil price today: Why are oil prices up today, and will Brent and US WTI crude futures continue to rise or fall again? Oil market reacts to US-Iran talks, Strait of Hormuz developments and supply outlook

By |2026-07-01T06:52:38+03:00July 1, 2026|Forex News, News|0 Comments


Oil prices moved higher during Tuesday’s trading session, but the overall market picture remains mixed. Brent crude and US West Texas Intermediate (WTI) crude futures are still heading for their biggest quarterly losses since the COVID-19 pandemic despite the day’s gains. Investors are watching several developments that could influence the market, including possible diplomatic discussions between the United States and Iran, shipping activity through the Strait of Hormuz, and changing global supply expectations. Analysts are also reviewing updated price forecasts after concerns about supply disruptions eased. These factors will play an important role in determining whether crude oil prices continue to recover or face renewed pressure.

Why are oil prices up today, and will Brent and US WTI crude futures continue to rise or fall again?

Oil prices traded higher on Tuesday as investors reacted to developments surrounding possible diplomatic discussions between the United States and Iran. The market also continued to monitor the situation in the Strait of Hormuz, one of the world’s most important oil shipping routes. Brent crude futures for August delivery, which expire on Tuesday, rose by 16 cents or 0.22% to reach $73.31 per barrel during trading. The more actively traded September Brent contract gained 45 cents or 0.61% to trade at $74.36 per barrel.

US West Texas Intermediate (WTI) crude futures for August delivery increased by 37 cents or 0.52% to $71.12 per barrel. Although prices moved higher during the day, both benchmark contracts remained on track for major monthly and quarterly declines. Brent crude was set for its third straight monthly loss, falling about 20% during June. US WTI crude was heading for its second consecutive monthly decline, losing around 19% during the month.

Looking at the broader picture, Brent crude had declined around 38% during the second quarter, while WTI crude had fallen approximately 29%. Despite recent volatility, both benchmarks have returned close to levels seen before the recent conflict disrupted energy markets.

Oil market watches US-Iran talks and Strait of Hormuz developments

One of the biggest factors influencing oil prices is the possibility of future discussions between the United States and Iran. Earlier expectations suggested that senior officials from both countries could meet in Doha. However, Qatar later confirmed that no high-level meeting would take place during the current visit.


Instead, technical-level discussions are expected to cover regional security issues. If progress is made, those discussions could eventually move to meetings involving senior officials. The announcement reduced expectations for immediate diplomatic progress while keeping uncertainty in the market.

The situation also highlights the fragile ceasefire reached on June 17 after months of conflict. The fighting had disrupted oil transportation through the Strait of Hormuz, creating concerns about global energy supplies. Because around one-fifth of global oil shipments pass through the Strait of Hormuz, any disruption in the region can quickly affect international oil prices.

Shipping activity eases some supply concerns

Analysts believe recent shipping movements have helped reduce some of the pressure on global oil supplies. UBS analyst Giovanni Staunovo said he would not say that the market has completely removed the geopolitical risk premium from oil prices. However, he noted that ships previously unable to leave the Gulf have now become available as more vessels move through the region.

This increase in shipping activity has temporarily added more oil supply to the market. As more crude cargoes leave the Gulf without major disruptions, traders have become less concerned about immediate supply shortages. This has limited further gains in oil prices despite continuing geopolitical uncertainty.

Analysts insights and market outlook

Several analysts believe that future oil prices will depend not only on geopolitical developments but also on global supply balances. Morgan Stanley now expects the global oil market to record an implied surplus of about 4.8 million barrels per day by 2027. A larger supply surplus could place downward pressure on oil prices if demand does not increase at the same pace. A separate Reuters survey also showed that analysts have lowered their oil price forecasts for 2026 for the first time since the Iran conflict began.

The survey followed five consecutive months of increasing price expectations. Analysts believe that the reopening of the Strait of Hormuz has reduced fears of prolonged supply disruptions, making lower price forecasts more likely. The latest estimates suggest that traders now see fewer risks to global oil transportation than they did during the height of the conflict.

Iraq offers discounts to attract crude buyers

Another factor affecting the oil market comes from Iraq. According to trade sources and documents reviewed by Reuters, Iraq’s State Organization for Marketing of Oil (SOMO) has offered larger discounts on its official selling prices for Basrah crude loading in July.

The discounts are intended to encourage long-term customers to continue purchasing Iraqi crude from terminals located in the Middle East Gulf. Lower official selling prices can increase competition in the global crude market by making Iraqi oil more attractive to buyers. If additional discounted supplies enter the market, they may contribute to higher overall availability of crude oil. That could also place pressure on oil prices in the coming months.

What should investors do now?

Investors are likely to remain focused on several key developments before making long-term decisions. The progress of technical discussions involving the United States and Iran will remain important because any diplomatic breakthrough could influence future sanctions and oil exports.

Market participants will also continue watching shipping activity through the Strait of Hormuz for signs of renewed disruption or smooth transportation. Global supply forecasts from investment banks, demand trends, production decisions by oil-producing countries and pricing strategies from exporters such as Iraq will also shape market expectations.

While oil prices posted gains during Tuesday’s trading session, the broader trend still reflects significant quarterly losses. Future price direction will depend on whether geopolitical tensions increase again or whether improving supply conditions continue to outweigh risks.

FAQs

Q1. Why are oil prices up today despite falling this quarter?
Oil prices rose because traders reacted to US-Iran developments and shipping activity around the Strait of Hormuz. However, Brent and WTI remain lower for the quarter as supply concerns eased.

Q2. Will Brent and US WTI crude futures continue to rise or fall again?
Future price movements will depend on US-Iran negotiations, Strait of Hormuz shipping, global supply forecasts, demand trends, Iraq’s crude exports and changing geopolitical risks affecting energy markets.



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1 07, 2026

Silver Price Forecast: XAG/USD Struggles To Reclaim $60 As Bearish Momentum Holds

By |2026-07-01T02:51:45+03:00July 1, 2026|Forex News, News|0 Comments







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30 06, 2026

Coffee prices today June 30: Domestic price decreases by up to 700 VND/kg

By |2026-06-30T22:50:29+03:00June 30, 2026|Forex News, News|0 Comments


Domestic coffee prices today

Coffee prices today in key production areas simultaneously decreased. The average price was recorded at 89,200 VND/kg, down 600 VND/kg compared to the previous update.

In Dak Lak, coffee prices decreased by 600 VND/kg, down to 89,200 VND/kg. Gia Lai also recorded a similar decrease, bringing the purchase price back to 89,200 VND/kg.

In Lam Dong, coffee prices today decreased by 600 VND/kg, down to 88,800 VND/kg and continue to be the lowest level among the surveyed areas.

The old Dak Nong area had the highest purchase price, reaching 89,300 VND/kg, but decreased more sharply than the remaining areas, with a decrease of 700 VND/kg.

Thus, domestic coffee prices currently range from 88,800-89,300 VND/kg. The gap between the region with the highest and lowest prices is 500 VND/kg.

The USD/VND exchange rate according to Vietcombank was recorded at 26,076 VND/USD, down 15 VND.

World coffee prices

World coffee prices fluctuated in opposite directions in the most recent trading session. Arabica on the New York exchange increased, while Robusta on the London exchange simultaneously decreased for all terms.

On the London exchange, the September 2026 Robusta futures contract fell 63 USD/ton, equivalent to 1.74%, to 3,564 USD/ton.

Robusta futures in November 2026 decreased by 60 USD/ton, equivalent to 1.68%, to 3,510 USD/ton. The January 2027 term decreased by 54 USD/ton, to 3,467 USD/ton.

Robusta futures for March 2027 decreased by 51 USD/ton, equivalent to 1.47%, to 3,429 USD/ton.

The July 2026 contract was recorded at 3,761/ton, down 56 USD/ton. However, the trading volume of this term is only 2 lots because the contract has approached maturity, so it does not fully reflect the general diễn biến of the market.

On the New York floor, Arabica futures in September 2026 increased by 4.60 US cents/lb, equivalent to 1.68%, to 277.80 US cents/lb.

Arabica futures in December 2026 increased by 2.50 US cents/lb, reaching 263.40 US cents/lb. March 2027 futures increased by 2.10 US cents/lb, to 258.70 US cents/lb.

May 2027 futures increased by 1.90 US cents/lb, equivalent to 0.74%, reaching 258.90 US cents/lb.

Coffee price assessment

According to financial data firm Barchart, Arabica prices rose sharply as heavy rains in Brazil continued to slow harvest progress.

Meteorological company Somar Meteorologia said that Minas Gerais state, Brazil’s largest coffee producing region, recorded 31.3 mm of rainfall in the week ending June 28. This level is equivalent to 1.956% of the historical average of the same period.

Heavy rain in the middle of harvest season can hinder coffee harvesting, transportation and drying. Coffee beans exposed to prolonged humidity also face the risk of declining quality, thereby creating support for Arabica prices.

In addition to weather factors, standard Arabica inventories on the US Intercontinental Exchange continued to decrease. Arabica inventories fell to 380,534 bags, the lowest in about 2 years and 3 months.

The decrease in available Arabica supply on the exchange made the market more sensitive to unfavorable information about the Brazilian harvest. This is one of the reasons why Arabica maintained its upward momentum even though Robusta turned down.

In the opposite direction, Robusta is under pressure as inventory on the European Intercontinental Exchange increased to 4,053 lots, the highest level in about 2 months and 3 weeks.

Previously, Robusta inventory had decreased to 3,631 lots on May 15, the lowest level in 2 years. The addition of standard goods somewhat reduced concerns about short-term supply shortages.

Robusta supply from Vietnam is also trending upwards. The Foreign Agricultural Services Agency of the US Department of Agriculture forecasts that Vietnam’s coffee production in the 2026-2027 crop year will reach 32.5 million bags, an increase thanks to production expansion after a period of high coffee prices.

Year-end weather risks are still a factor being monitored by businesses. The US National Oceanic and Atmospheric Administration assesses that there is a 63% chance that El Niño will reach very strong intensity in the period from November 2026 to January 2027.

El Niño may change the rainfall pattern in Brazil during the coffee tree flowering period in September and October, and also affect production conditions in Robusta growing areas in Asia. However, the level of impact depends on the actual developments in each region.

In terms of pressure, the Foreign Agricultural Services Agency of the US Department of Agriculture forecasts that Brazil may produce 66.7 million bags of coffee in the 2026-2027 crop year. The Dutch bank Rabobank also forecasts that the global Arabica market will continue to have a surplus.

In general, Arabica prices are being supported by heavy rain in Brazil and standard inventories are falling sharply. Meanwhile, Robusta is under pressure from recovery inventories and the prospect of increased Vietnamese supply.





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30 06, 2026

Copper price provides sideways trading– Forecast today – 30-6-2026

By |2026-06-30T18:49:20+03:00June 30, 2026|Forex News, News|0 Comments


Copper price is affected by the positivity of the main indicators since yesterday, specifically by forming extra support by the moving average 55 at $5.9500, which obstructs the bearish corrective attempts, forming new sideways fluctuations by its stability near $6.1000.

 

The sideways fluctuations remains the dominance in today’s trading until gathering the negative momentum, confirming the importance of its stability at $6.3000 level, to motivate forming bearish waves to target $5.8200 and $5.7100.

 

The expected trading range for today is between $5.9500 and $6.2000

 

Trend forecast: Fluctuating





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30 06, 2026

Forecast update for EURUSD -29-06-2026

By |2026-06-30T14:48:41+03:00June 30, 2026|Forex News, News|0 Comments


The EURJPY pair confirmed delaying the negative attempts, with the positive momentum that comes from the main indicators, to attempt to record some gains by reaching 185.35.

 

Note that the continuation of facing positive pressures, by the attempt of forming an initial support at 184.20 level, which might help it to reinforce the chances of recording extra gains by targeting 185.85 level, while the return of the fluctuation below 184.20 will reinforce the chances of forming new bearish trading, to expect reaching 183.50 level initially, attempting to reach the next support at 182.90.

 

The expected trading range for today is between 184.40 and 185.80

 

Trend forecast: Bullish 

 





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30 06, 2026

Platinum price keeps the negativity– Forecast today – 30-6-2026

By |2026-06-30T10:47:26+03:00June 30, 2026|Forex News, News|0 Comments


Copper price is affected by the positivity of the main indicators since yesterday, specifically by forming extra support by the moving average 55 at $5.9500, which obstructs the bearish corrective attempts, forming new sideways fluctuations by its stability near $6.1000.

 

The sideways fluctuations remains the dominance in today’s trading until gathering the negative momentum, confirming the importance of its stability at $6.3000 level, to motivate forming bearish waves to target $5.8200 and $5.7100.

 

The expected trading range for today is between $5.9500 and $6.2000

 

Trend forecast: Fluctuating





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29 06, 2026

Silver (XAG/USD) Price Forecast: Long-Term Support Faces Critical Test

By |2026-06-29T18:44:00+03:00June 29, 2026|Forex News, News|0 Comments


Spot silver daily chart shows long-term trend structure

Weekly Chart Reinforces Key Technical Levels

The weekly chart provides additional perspective, as the lows of the past couple of weeks have been finding support near the 50-week moving average, now near $63.64. This reinforces the potential for a durable support zone. Conversely, a decisive break below that area would strengthen the bearish outlook by confirming a loss of long-term support. The 50-week moving average has held as support since it was reclaimed in March 2024, except for a couple of weeks in April 2025 when price briefly traded below it.

Resistance Levels Hold the Key

Key near-term resistance is represented by the 20-day moving average near $70.16 and the recent lower swing high at $71.56. If those levels can be recovered, silver would have an opportunity to reclaim the long-term trend indicators and improve the broader outlook. Until then, however, the bias remains tilted to the downside.

If you’d like to know more about how to trade gold and silver, please visit our educational area.



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29 06, 2026

Forecast update for EURUSD -29-06-2026.

By |2026-06-29T14:42:29+03:00June 29, 2026|Forex News, News|0 Comments


The EURJPY pair formed some bearish trading, however it didn’t settle for longtime by its stability above 183.40, forming several bullish waves by targeting 184.85 barrier, to settle near 184.20.

 

In spite of the stability of the price below 184.85 barrier, however the contradiction of the main indicators might force it to provide unstable mixed trading, to keep waiting for gathering extra negative momentum, which allows it to renew the pressure on the mentioned barrier, where breaking it will extend the trading towards the negative stations near 182.90 and 182.20.

 

The expected trading range for today is between 183.40 and 184.60

 

Trend forecast: Fluctuating within the bearish trend





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29 06, 2026

Platinum price is looking for negative momentum– Forecast today – 29-6-2026

By |2026-06-29T10:41:05+03:00June 29, 2026|Forex News, News|0 Comments


 

The continuation of the contradiction between the main indicators led to delay the negative attempts of platinum, to form some bullish corrective waves by reaching $1625.00, by the above image, we notice the stability of the trading within minor bearish channel levels, to confirm the stability of the bearish scenario by its stability below the initial resistance at $1745.00.

 

And that makes us wait for gathering extra negative momentum, which allows it renew the negative attempts that might target $1555.00 and $1510.00, while breaching the resistance and holding above it will provide extra chances for recovering more losses by its rally $1775.00 reaching the next barrier near $1855.00.

 

The expected trading range for today is between $1515.00 and $1680.00

 

Trend forecast: Bearish

 





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28 06, 2026

Current price of oil as of June 26, 2026

By |2026-06-28T18:37:50+03:00June 28, 2026|Forex News, News|0 Comments


At 9 a.m. Eastern Time today, oil was priced at $73.74 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a drop of 28 cents compared with yesterday morning and around $5.76 higher than the price one year ago.

Oil price per barrel % Change
Price of oil yesterday $74.02 -0.37%
Price of oil 1 month ago $97.59 -24.43%
Price of oil 1 year ago $67.98 +8.47%
Price of oil yesterday
Oil price per barrel $74.02
% Change -0.37%
Price of oil 1 month ago
Oil price per barrel $97.59
% Change -24.43%
Price of oil 1 year ago
Oil price per barrel $67.98
% Change +8.47%

Will oil prices go up?

It’s impossible to forecast oil prices with detailed precision. Many different elements affect the market, but ultimately it boils down to supply and demand. When worries about economic recession, war, and other large-scale disruptions increase, oil’s path can shift fast.

How oil prices translate to gas pump prices

Gas prices at the pump don’t only track crude oil. They also include what it takes to refine and move that fuel, the taxes layered on top, and the extra markup your local station adds to stay in business.

Since crude oil generally makes up a majority of the per-gallon cost, changes in its price have an outsized impact. When oil surges, gas prices typically rise in tandem. But when oil retreats, gas prices often lag on the way down, a trend sometimes described as “rockets and feathers.”

The role of the U.S. Strategic Petroleum Reserve

In case of emergency, the U.S. has a store of crude oil known as the Strategic Petroleum Reserve. Its primary purpose is energy security in case of disaster (think sanctions, severe storm damage, even war). But it can also go a long way toward softening crippling price hikes during supply shocks.

It’s not a long-term answer and is more meant to provide temporary relief, assisting consumers and keeping critical parts of the economy running, like key industries, emergency services, public transportation, etc.

How oil and natural gas prices are linked

Both oil and natural gas are key sources of the energy we use every day. Because of this, a big change in oil prices can affect natural gas. For example, if oil prices increase, some industries may swap natural gas for some segments of their operations where possible, which increases demand for natural gas.

Historical performance of oil

To gauge oil’s performance, we often turn to two benchmarks:

  • Brent crude oil, the main global oil benchmark.
  • West Texas Intermediate (WTI), the main benchmark of North America

Between these two, Brent better represents global oil performance because it prices much of the world’s traded crude. And, it’s often the best way to track historical oil performance. In fact, even the U.S. Energy Information Administration now uses Brent as its primary reference in its Annual Energy Outlook.

Looking at the Brent benchmark across several decades, oil has been anything but steady. It’s seen spikes due to factors such as wars and supply cuts, and it’s also seen crashes from global recessions and an oversupply (called a “glut”). For example:

  • The early 1970s brought the first big oil shock when the Middle East cut exports and imposed an embargo on the U.S. and others during the Yom Kippur War.
  • Prices dropped in the mid-1980s for reasons such as lower demand and more non-OPEC oil producers entering the industry.
  • Prices spiked again in 2008 with increased global demand, but it soon plummeted alongside the global financial crisis.
  • During the 2020 COVID lockdown, oil demand collapsed like never before—bringing prices below $20 per barrel.

All to say, oil’s historical performance has been anything but smooth. Again, it’s hugely affected by wars, recessions, OPEC whims, evolving energy initiatives and policies, and much more.

Energy coverage from Fortune

Looking to stay up-to-date regarding the latest energy developments? Check out our recent coverage:

Frequently asked questions

How is the current price of oil per barrel actually determined?

The current price of oil per barrel depends largely on supply and demand, including news about potential future supply and demand (geopolitics, decisions made by OPEC+, etc.). In the U.S., prices also move based on how friendly an administration is to drilling, as it can affect future supply. For example, 2025 saw the Trump administration move to reopen more than 1.5 million acres in the Coastal Plain of the Arctic National Wildlife Refuge for oil and gas leasing, reversing the Biden administration’s policy of limiting oil drilling in the Arctic.

How often does the price of oil change during the day?

The price of oil updates constantly when the “futures” markets are open. A futures market is effectively an auction where people agree to buy or sell oil in the future. As long as people and companies are trading contracts, the oil price is changing.

How does U.S. shale oil production affect the current price of oil?

In short, shale is rock that contains oil and natural gas. Think of shale as energy yet to be tapped. The more shale the U.S. accesses, the more energy we’ll have—and the more easily oil prices can keep from spiking as much thanks to a greater supply.

How does the current price of oil impact inflation and the broader economy?

When oil is expensive, it tends to make everyday items cost more. This can be related to energy (your heating, gas utilities, etc.), but it’s also due to the logistics involved with making those items accessible to you. Shipping, for example, can affect the price of things at the grocery store, as it’s more expensive to get those products from warehouses and farms onto the shelf.



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