At least 11 people, including medics and children, were killed in Israeli airstrikes in southern Lebanon, according to the country's state news agency. The incident marks a significant escalation in a conflict zone closely watched by energy markets for signs of broader instability.
The investment bank warns that an escalation of attacks on shipping in the Strait of Hormuz could send Brent crude to $120, while advising investors to look beyond crude for hedging opportunities.
Jefferies has launched a new quantitative framework for gold, replacing traditional metrics with central bank buying and fiscal deficits to forecast prices. The model supports a path toward $5,000 per ounce and outlines scenarios that could accelerate the rally.
Gold prices held firm as a robust U.S. jobs report strengthened the case for a Federal Reserve rate hike, while escalating geopolitical tensions in the Strait of Hormuz provided a floor for the safe-haven metal.
Oil prices extended gains on Monday after the U.S. and Iran exchanged military strikes in the critical Strait of Hormuz, fueling investor concerns over a prolonged disruption to global energy supplies.
A significant deficit in fuel oil is forecast for the third quarter as global refiners shift production to more profitable products like diesel and gasoline, squeezed by geopolitical conflicts and tight inventories. The shortage is driving up prices for the shipping and power generation sectors.
Crude oil prices extended a sharp weekly rally following military strikes by both the U.S. and Iran on vessels in the Strait of Hormuz, a critical chokepoint for global energy supplies.
Gold prices remained steady as a robust U.S. labor market report bolstered expectations for a near-term Federal Reserve interest rate hike, while escalating geopolitical tensions in the Strait of Hormuz provided a floor for the safe-haven asset.
Oil futures extended recent gains after the U.S. and Iran conducted tit-for-tat strikes on oil tankers, raising concerns over prolonged supply disruptions in the critical Strait of Hormuz.
