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The latest commodities coverage from the TrustFinance editorial desk.
Brent crude futures fell over 6% following reports of planned U.S.-Iran talks, while the Japanese yen jumped more than 1% against the dollar after a rare coordinated intervention by Tokyo and Washington.
President Donald Trump said talks with Iran would begin Monday, providing no deadline for a deal and prompting a sharp drop in oil prices on hopes of de-escalation in the Persian Gulf.
Crude oil benchmarks fell sharply after President Trump announced he would hold off on an attack on Iran to pursue a diplomatic solution, easing geopolitical tensions that had recently sent prices soaring.
Hungary has shut down its only nuclear power plant due to critically low water levels in the Danube River, while Greece battles widespread wildfires that have destroyed over 100 homes and thousands of hectares of land amid a severe European heatwave.
A coalition of seven OPEC+ members, including Saudi Arabia and Russia, will increase oil production by 188,000 barrels per day in September, completing the rollback of a 2023 voluntary supply cut.
The oil-producing alliance is expected to approve a final, modest quota increase of around 188,000 bpd for September before halting further hikes for the rest of the year, sources familiar with the matter said.
UBS strategists forecast that gold prices could resume their advance in the second half of 2026, but this hinges on the Federal Reserve halting rate hikes, a recovery in investment demand, and continued strong buying from central banks.
Iran has warned it will target the energy infrastructure of neighboring countries, including Saudi Arabia and the UAE, if the United States launches further attacks. The threat comes amid heightened regional tensions and recent incidents that have disrupted global energy supplies.
The stablecoin issuer increased its physical gold reserves to over 146 metric tons after accelerating purchases during a period of declining gold prices, according to its latest quarterly report.
