Oil slips through near-term support; sellers test control
Crude oil dropped below its 100-hour moving average and swing area support, with sellers eyeing a potential downside target at $88.77.
Gold, crude oil, industrial metals and agricultural products: supply and demand, inventories and geopolitical risk.
Crude oil dropped below its 100-hour moving average and swing area support, with sellers eyeing a potential downside target at $88.77.
Crude oil fell after reports of U.S.-Iran talks on a phased deal to reopen the Strait of Hormuz.
Gold declined after Trump's comments on Iran and strong US PMIs, but renewed deal hopes and Strait of Hormuz reopening offer support.
Copper futures hit a record $6.95/lb on Sept 22, outpacing gold's flat 2026 amid supply tightness and AI demand.
Iran's President Pezeshkian seeks US ceasefire deal before November midterms, signals openness to nuclear inspections.
France sends troops and air defences to Saudi Arabia's Yanbu port to protect oil facilities amid escalating Houthi attacks.
Oil prices rose to a one-week high after Houthi strikes on Saudi Arabia, but gains were trimmed by reports of a potential US-Iran deal on the Strait of Hormuz.
Pezeshkian told NBC he wants a US deal before the midterm elections, while crude prices swung on reports about the Strait of Hormuz.
Reuters sources report US-Iran discussions on a phased arrangement to reopen Hormuz and lift the blockade; crude dropped to $94.55, yields eased.
Morgan Stanley and Goldman Sachs warn a US diesel export ban could push gasoline prices up as refiners cut output, while Trump weighs the curb.
InvestingLive and Base Markets host a free webinar on October 13, 2026, covering gold trading, market noise, broker checks, and risk management.
Silver dropped to the $63 support level as surging real yields from strong US PMIs and rising oil prices weighed on the metal.
Gold prices declined toward last week's lows as 10-year Treasury yields rose above 5.10%, pressuring the non-yielding metal.
Crude oil extended gains after Trump dampened expectations of an early end to the Iran war, with technical breakouts aiding the rally.
Shipping traffic through the Strait of Hormuz remains low, reinforcing oil's risk premium despite diplomatic hopes.