Gold prices stabilized near $4,500 an ounce following a nearly 2% rally, as comments from Federal Reserve Governor Christopher Waller tempered expectations for a September interest rate hike. A weaker U.S. dollar and falling Treasury yields provided additional support for the metal.
Crude oil benchmarks are on track for substantial weekly gains, with WTI poised to jump 10%, as military clashes between the U.S. and Iran fuel fears of a prolonged supply disruption through the critical Strait of Hormuz.
The national average price for diesel fuel in the U.S. climbed to an all-time high, driven by critically low inventories, international conflicts disrupting supply, and rising seasonal demand.
Citi has increased its third-quarter 2026 Brent crude forecast to $86 per barrel, citing a longer-than-expected closure of the critical Strait of Hormuz waterway, though it maintains a lower price outlook for Q4 and beyond.
The Brazilian government has warned of potential reciprocal trade measures against the European Union after the bloc enacted a ban on Brazilian animal products, citing concerns over the use of prohibited substances.
U.S. President Donald Trump stated in an interview that the United Kingdom is facing potential disaster due to its energy policies, high power costs, and immigration challenges.
Chicago Board of Trade wheat futures fell from multi-year highs on Thursday after Russian President Vladimir Putin's comments about a possible peace deal prompted profit-taking among traders.
U.S. Vice President JD Vance stated that Washington will not engage in dialogue with Tehran until it halts attacks on commercial vessels in the strategically vital Strait of Hormuz, a key artery for global oil shipments.
Gasoline refining margins in Northwest Europe surged to $61.86 per barrel, nearing record levels from the 2022 energy crisis, as regional supplies remain constrained despite a build in ARA hub inventories.
