Commerzbank’s commodity team highlights renewed geopolitical risks for Oil as Iran again threatens to block the Strait of Bab al-Mandab, a key route for Saudi exports rerouted from the Strait of Hormuz.

Thu Lan Nguyen at Commerzbank notes that weaker United States (US inflation data briefly supported Gold, but the price has slipped back below USD 4,000 per troy ounce.

Tradingkey - Em 17 de julho, horário do leste, o conflito entre EUA e Irã continuou a se intensificar, com os dois principais contratos futuros de petróleo subindo novamente e retornando aos níveis de

Norman Liebke at Commerzbank expects European gas prices to remain high in the near term, even if the Strait of Hormuz reopens sustainably.

Gold (XAU/USD) holds firm on Friday but lacks bullish momentum as rising Oil prices revive inflation concerns and reinforce expectations that the Federal Reserve (Fed) could raise interest rates later this year.

Gold (XAU/USD) shows moderate gains on Friday, but remains close to the year-to-date lows, at the $3,940 area, with upside attempts capped below the $4,000 psychological level for now.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $55.44 per troy ounce, down 0.17% from the $55.53 it cost on Thursday.

Silver (XAG/USD) trades around $55.50 at the time of writing on Friday, virtually unchanged on the day, but remains on track to post a weekly loss of nearly 7%.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its sideways consolidative price moves for the fourth straight day and trades around the $79.00 mark through the first half of the European session on Friday.

Deutsche Bank’s Early Morning Reid notes Brent Oil trading around $85 per barrel, with prices slightly higher at $85.12/bbl and on course for a first close above $85 in over a month.

Silver price (XAG/USD) is down 0.8% to near $55.00 during the early European trading session on Friday. The white metal posted a fresh Year-To-Date (YTD) low at $54.77 earlier in the day.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $79.00 during the early European trading hours on Friday. The WTI heads for its biggest weekly advance since April as rising tensions in the Middle East raise fears of oil supply disruption. 

The Iranian Islamic Revolutionary Guards Corps (IRGC) said that no oil or gas will be exported through the Strait of Hormuz as long as US attacks continue, Tasnim news agency reported on Friday.

West Texas Intermediate (WTI) – the benchmark US crude oil price – edges higher during the Asian session on Friday, though it remains confined within a multi-day-old range.

Iran has asked Yemen’s Houthi militia to stand ready to close the Red Sea oil route if the United States (US) strikes Iranian power infrastructure, posing a potent new threat to global energy supplies, Reuters reported on Thursday.

Gold price (XAU/USD) falls to near an eight-month low around $3,975 during the early Asian session on Friday. The precious metal extends its downside as rising tensions in the Middle East raise inflation concerns and reinforce expectations of elevated US interest rates.

West Texas Intermediate (WTI) Crude Oil is fading about one percent to just below $79.00 after a third consecutive failure at the $80.00 handle, where the 50-day Exponential Moving Average sits just above the figure and refuses to yield.

Gold price drops over 1.80% as tensions between the US and Iran fuel fears of a possible Oil supply disruption, driving energy prices higher and potentially triggering another round of inflation. The XAU/USD trades at $3,994.

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 - Em 16 de julho, com a intensificação das tensões no conflito entre EUA e Irã, os preços do petróleo retomaram sua trajetória de alta e os rendimentos dos Treasuries dos EUA subiram, levan

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.