BNY’s Bob Savage highlights a severe Oil supply shock, with front‑month Brent spiking above $140 and forward prices far lower, tightening global financial conditions.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $103.30 during the early European trading hours on Monday. The WTI price retreats after reports that the United States (US) and Iran are making a push for a 45-day ceasefire. 

Commerzbank’s Dr. Henry Hao and Moses Lim highlight that Brent crude Oil remains supported as Middle East conflict disrupts regional energy infrastructure and constrains OPEC+ supply.

Iran’s parliamentary speaker Mohammad Baqer Qalibaf condemned US President Donald Trump’s threats to target energy and transport infrastructure, saying he was being misled by Israel’s Prime Minister Benjamin Netanyahu, Reuters reported on Monday.

Silver price (XAG/USD) trades 0.7% lower to near $72.50 in the late Asian trade on Monday, but is broadly consolidating in a limited range. The white metal turns sideways as investors await Iran’s response to United States (US) President Donald Trump’s ultimatum.

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

Gold (XAU/USD) struggles to capitalize on Friday's goodish recovery from the vicinity of the $4,550 level and kicks off the new week on a weaker note.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on modest Asian session gains to the $106.45 region, or a nearly four-week high, and retreats to the lower end of its daily range in the last hour.

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to raise their oil output quotas by 206,000 barrels per day (bps) for May, Reuters reported.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $105.00 during the Asian trading hours on Monday. The WTI price climbs to its highest levels in nearly four years amid escalating conflict in the Middle East.

Spot Gold gapped marginally lower at the weekly opening, with the XAU/USD pair battling to retain the $4,600 mark early in the Asian session.

Gold’s (XAU/USD) reversal from weekly highs at the $4,800 area remains contained above previous highs, in the area of $4,600, with the precious metal changing hands at $4,665 at the time of writing.

Silver prices (XAG/USD) broadly unchanged on Friday, according to FXStreet data. Silver trades at $73.05 per troy ounce, broadly unchanged 0.00% from the $73.05 it cost on Thursday.

West Texas Intermediate (WTI) oil price steadies around $103.80 per barrel during the early European hours on Friday. WTI price gained over 10% as supply concerns intensified following renewed Iran threats from US President Donald Trump.

Gold prices remained broadly unchanged in India on Friday, according to data compiled by FXStreet.

West Texas Intermediate (WTI) oil price rises over 10% after two days of losses, trading around $103.80 per barrel during the Asian hours on Friday. Crude oil prices surged as markets reassessed the scale of supply risks stemming from the ongoing conflict in the Persian Gulf.

US President Donald Trump touted the destruction of a bridge in Tehran, Iran. He warned that there was “much more to follow” and urged Tehran to “make a deal before it is too late."

Gold price (XAU/USD) faces some selling pressure to near $4,675 during the early Asian session on Friday. The precious metal falls as US President Donald Trump's comments about the war with Iran spiked oil prices. Trading activity remains muted due to Good Friday.

Gold price recoils by some 2% as the US Dollar rises after US President Donald Trump revealed that the war on Iran would last from two to three weeks, pouring cold water on hopes for a quick resolution to the Middle East conflict.

West Texas Intermediate (WTI) Crude Oil rebounds sharply on Thursday, rising more than 8% on the day, as ongoing tensions in the Middle East continue to keep a geopolitical risk premium embedded in prices amid supply disruptions through the Strait of Hormuz.

ING analysts Ewa Manthey and Warren Patterson note that Oil prices rebounded strongly, with Brent above $107/bbl and WTI near $106/bbl, after US President Donald Trump threatened a further escalation of the conflict with Iran.

Gold (XAU/USD) trades on the back foot on Thursday, snapping a four-day rally as initial optimism that the US-Israel war with Iran could end soon faded after US President Donald Trump signaled continued military action in his address to the nation.

OPEC+ is likely to weigh a further oil output quota hike at the meeting on April 5, Sunday, to prepare for any easing of Strait of Hormuz export constraints, according to a report from Reuters.

ING’s Ewa Manthey and Warren Patterson report Aluminium prices above $3,500/t after unconfirmed reports of major Gulf smelter disruptions at EGA and Alba.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $71.46 per troy ounce, down 4.84% from the $75.09 it cost on Wednesday.

Rabobank’s Senior Market Strategist Benjamin Picton notes that Brent briefly fell below $100 before Donald Trump’s national address reversed risk sentiment, sending Oil higher and bond yields up.

Commerzbank economists Dr. Christoph Balz and Dr. Ralph Solveen argue that higher Oil prices from the Iran War are set to push US inflation higher. They expect March CPI to rise 0.9% month-on-month and 3.3% year-on-year, with core at 0.3% and 2.7%.

Gulf nations are considering pipeline projects to bypass the Strait of Hormuz amid concerns over Iran's potential control of the strategic waterway, the Financial Times reported on Thursday. 

West Texas Intermediate (WTI) Crude Oil prices caught aggressive bids on Thursday and rallied closer to the 100.00 psychological mark during the Asian session following US President Donald Trump's Iran war update.

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