Brent crude oil price retreated to $96.7 today, June 4, as investors reacted to the new ceasefire between Israel and Lebanon. It remains about 16% below its highest point in May this year. Still, oil faces some major risks ahead despite the agreement. Brent crude oil price slips after Israel-Lebanon ceasefire Israel and Lebanon agreed
China’s CATL, the world’s largest battery manufacturer, expects energy storage to account for half of its global sales by 2030, up from approximately 25% at present, according to a company executive. Kevin Tang, CATL’s Director of Energy Storage Systems for Europe, said the energy storage segment has grown significantly over the past five years. Speaking
Trafigura Group delivered a strong financial performance in the first half of its 2026 financial year, posting a net profit of $4.1 billion despite challenging global conditions marked by geopolitical tensions and supply chain disruptions. The Singapore-headquartered commodities trader announced its half-year results on 4 June 2026, showcasing broad-based contributions across its major divisions. Strong
India and Venezuela are strengthening their energy partnership, with New Delhi describing the relationship as one of “perfect complementarity” amid severe disruptions in oil supplies from the Middle East caused by the ongoing Gulf crisis. Venezuela’s interim President Delcy Rodríguez visited India this week, holding high-level talks with Prime Minister Narendra Modi on Thursday. The
Oil advanced for a third straight session on Wednesday and the dollar briefly touched 160 yen, as renewed hostilities in the Gulf overshadowed stalled US-Iran talks and added another layer of risk to already cautious global markets. US crude futures rose about 2% to $95.40 a barrel, extending a rally fuelled by concerns over supply
Gold held steady on Wednesday as investors balanced escalating tensions in the Middle East against looming US economic data and renewed warnings that interest rates may need to rise if inflation pressures persist. Spot gold was unchanged at $4,485.17 an ounce by 0319 GMT, after gaining more than 1% in the previous session. US gold
Silver fell during Asian trading on Wednesday, with XAG/USD trading around $74.70 per troy ounce, as investors weighed renewed Middle East tensions against a resilient US economy that reinforced expectations for elevated interest rates. The non-yielding metal lost ground after a brief rebound, with traders focusing on the risk that any disruption near the Strait
Commerzbank has lowered its end-2026 gold price forecast to $4,800 per ounce from $5,000, while maintaining its end-2027 target of $5,200. The revision comes as gold struggles with an unusual inverse relationship with oil prices amid the ongoing Iran conflict. However, the German bank maintains its 2027 target at USD 5,200 per ounce, citing strong
Gold was little changed on Tuesday as traders weighed a partial ceasefire between Hezbollah and Israel against mixed signals on US-Iran negotiations, keeping bullion in a narrow range ahead of key US labour-market data and Federal Reserve commentary. Spot gold was steady at $4,481.53 an ounce as of 0217 GMT. US gold futures for August
Silver rose during the Asian session on Tuesday, though the move did little to change the broader technical picture as prices remained trapped below key resistance levels. XAG/USD climbed more than 1% to trade around $75.70 to $75.75 in Asia. The bounce attracted fresh buying interest, but the metal remained inside a multi-day range, with