West Texas Intermediate (WTI) spent Thursday's European morning grinding down to 78.37 before ripping nearly two dollars to 80.29 when the Houthis threatened to target all Saudi oil sites and key facilities should Saudi Arabia escalate its actions against Yemen.

TradingKey - On July 16, as tensions in the US-Iran conflict intensified, oil prices resumed their rally and US Treasury yields climbed, leading to a decline in spot gold prices.Recently, the United S

ING’s Warren Patterson and Ewa Manthey highlight that investment funds have sharply increased net long positions in TTF natural gas, driven by fresh longs.

Silver (XAG/USD) falls toward $56.70 at the time of writing on Thursday, down 1.85% on the day. The white metal comes under selling pressure as renewed tensions between the United States (US) and Iran drive energy prices higher, reviving concerns about persistently elevated global inflation.

Gold (XAU/USD) edges lower on Thursday as traders look past back-to-back softer-than-expected US inflation reports and remain focused on renewed Middle East tensions, which are fueling concerns that higher energy prices could reignite inflationary pressure.

Gold price (XAU/USD) is down 0.7% to near $4,030 during the European trading session on Thursday. The precious metal faces selling pressures as global inflation concerns remain intact amid elevated energy prices in the wake of widening military aggression between the United States (US) and Iran.

Citing four Iraqi oil and security sources, Reuters reported on Thursday that a drone crashed into an oil tanker in Iraq's Basra terminal, although no damage or fire was caused.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $57.00 per troy ounce, down 1.34% from the $57.77 it cost on Wednesday.

West Texas Intermediate (WTI), futures on NYMEX, trade 0.9% lower to near $79.00 during the European trading session on Thursday, but is closer to its monthly high of $80.61 posted on Tuesday.

ING strategists Warren Patterson and Ewa Manthey report Gold has risen for a second session as softer US producer price data weighs on the Dollar and Treasury yields, reducing expectations of near-term Federal Reserve tightening.

OCBC strategists Sim Moh Siong and Christopher Wong note that softer United States (US) inflation data has reduced expectations of near-term Fed tightening, weighing on front-end US yields and the US Dollar (USD) while supporting risk-sensitive assets.

ING analysts Warren Patterson and Ewa Manthey note Oil prices have extended gains as US–Iran tensions escalate and tanker flows through the Strait of Hormuz remain under pressure. Large second-quarter inventory drawdowns and the imminent end of global SPR releases leave the market more exposed.

Silver price (XAG/USD) trades 1.33% lower to near $58.00 during the European trading session on Thursday. The white metal faces selling pressure as elevated energy prices due to renewed aggression between the United States (US) and Iran have de-anchored inflation expectations again.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – ticks lower during the Asian session on Thursday, though it lacks bearish conviction and remains close to an over one-month high touched earlier this week.

Gold prices fell in India on Thursday, according to data compiled by FXStreet.

Gold (XAU/USD) attracts fresh sellers during the Asian session on Thursday and drops back closer to the previous day's swing low, around the $4,025 region in the last hour.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $79.50 during the early Asian trading hours on Thursday.

The US Central Command (CENTCOM) said that it has launched another wave of strikes against Iran in a further effort to keep the Strait of Hormuz open, the Guardian reported on Wednesday. 

Gold price (XAU/USD) edges higher to around $4,060 during the early Asian session on Thursday. The precious metal rebounds as softer US inflation has fueled hopes that the US Federal Reserve (Fed) will hold rates steady at the upcoming July policy meeting.

West Texas Intermediate (WTI) crude Oil consolidates modest losses on Wednesday but stays close to a one-month high as escalating Middle East tensions keep supply risks around the Strait of Hormuz in focus. At the time of writing, WTI trades around $78.70, up roughly 10% so far this week.

The US Dollar (USD) is under strong selling pressure on Wednesday, yet action around XAU/USD is muted.

The Gold price turns negative on Wednesday, even though the last two US inflation reports showed that prices are dropping, though developments in the Middle East sent energy prices higher. At the time of writing, the XAU/USD traded at $4,034, down some 0.53%.

Silver (XAG/USD) trades on the back foot on Wednesday, struggling to capitalize on a weaker US Dollar (USD) as hawkish Federal Reserve (Fed) expectations keep bears in control. At the time of writing, XAG/USD trades around $57.55, down 1.90% on the day.

United States EIA Crude Oil Stocks Change came in at -1.693M, above forecasts (-2.6M) in July 10

Gold (XAU/USD) trades on the back foot on Wednesday as the US Dollar (USD) and US Treasury yields rebound after coming under pressure on Tuesday following softer-than-expected US Consumer Price Index (CPI) data.

Gold (XAU/USD) edges lower on “inside trading” on Wednesday, with price action contained within Tuesday’s range, as the pair keeps looking for direction above the $4,000 level.

Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $58.41 per troy ounce, down 0.46% from the $58.68 it cost on Tuesday.

Silver price (XAG/USD) is down 0.6% to near $58.00 during the European trading session on Wednesday.

Deutsche Bank strategists highlight a sharp two-day rally in Brent Oil driven by geopolitical tensions and Gulf-related policy headlines.

West Texas Intermediate (WTI) oil price continues to gain ground for the third successive day, trading around $79.40 per barrel during the European session on Wednesday.