Oil prices remain elevated as the US-Iran ceasefire encounters obstacles, while gold continues to face downward pressure from hawkish US monetary policy expectations.
Key Takeaways
- 1.Oil prices are rising due to heightened geopolitical tensions between the US and Iran, despite a temporary ceasefire.
- 2.Speculators have significantly increased their gross short positions in ICE Brent futures, the largest since December 2025.
- 3.Gold prices are declining due to a 'higher-for-longer' interest rate outlook and reduced energy supply disruption fears.
Table of Contents
- Energy - Speculators build the short in ICE Brent
- Metals - Gold extends losses
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Authors
Warren PattersonEwa Manthey
Securities
ICE BrentTTF Gas
Themes
Geopolitical RiskEnergy Supply SecurityUS Monetary Policy
Regions
Middle EastEuropeUnited StatesIranLebanon
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