Latest news with #ThuLanNguyen
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
Gold Edges Lower on Possible Position Adjustments
2355 GMT — Gold edges lower in the early Asian session on possible position adjustments, but losses may be limited by concerns over U.S. policies. With this Wednesday's deadline for the 90-day pause on so-called reciprocal tariffs looming, President Trump said Sunday that a dozen or more letters could go out this week. Meanwhile, Trump signed his 'one big, beautiful bill' into law in a July 4th ceremony. A key factor supporting gold is the damaging U.S. policy, which is eroding investors' confidence in safe U.S. assets, says Commerzbank Research's head of FX and Commodity Research Thu Lan Nguyen in a note. Spot gold is 0.3% lower at $3,327.26/oz. (
Wall Street Journal
17-04-2025
- Business
- Wall Street Journal
Oil Price Upside Looks Limited, Commerzbank Says
1327 GMT – Oil prices advance in afternoon trade, but further upside might be capped due to uncertainties over U.S. tariffs and ample global supplies in the near term, according to Commerzbank CBK -1.73%decrease; red down pointing triangle Research analysts. Brent crude rises 1.5% to $66.84 a barrel, while WTI is up 1.7% to $62.86 a barrel. Both benchmarks are on track to notch weekly gains of around 5%, boosted by the latest U.S. sanctions on Iranian oil exports. 'Iran recently exported 1.6 million barrels of crude oil per day,' says Thu Lan Nguyen, head of FX and commodity research, citing Bloomberg data. 'The U.S. Treasury Secretary declared his willingness to take all measures to reduce this to zero. However, this is unlikely to be possible so quickly.' Commerzbank analysts expect global oil markets to remain amply supplied, in part due to larger-than-anticipated output increases from OPEC and its allies. ( 1025 GMT – Fitch Ratings lowered its oil price forecast for this year on expectations of lower economic growth due to trade tariffs and higher-than-expected production increases from OPEC+ members. 'We forecast global oil demand growth to be well below 1 million barrels per day in 2025 due to slower global economic growth, particularly in China, and further weakness in the petrochemicals sector, which is already in a downturn,' the credit rating agency says. Fitch now estimates Brent crude at $65 a barrel and WTI at $60 a barrel, both down $5 a barrel from previous projections. (
