17/7/2025–|Last update: 14:39 (Mecca time)
Oil prices rose today, Thursday, after they incurred losses in the previous three sessions due to American economic data and indicators of the decline in trade tension, and gold prices fell affected by the rise of the dollar after US President Donald Trump said that “it is very unlike Jerome Powell.
Brent crude barrel rose 0.03% at $ 68.54, while West Texas Crude increased 0.26% to $ 66.55 in the latest transactions.
Both the two records were more than 0.2% in the previous session.
Trump said he would soon send notices to small countries By customs duties That will be imposed on it.
Yesterday, Trump stated that he would likely impose 10% or 15% customs duties on small countries.
New agreements were announced with Indonesia The homes this week.
Trump once again expressed optimism about the possibility of reaching an agreement with China on drugs, and hinted that reaching a trade agreement with India It is very imminent, and it is possible to reach an agreement with Europe as well.
“Trump has eased his accent towards China, and suggested that customs duties be reduced to smaller countries, which is considered in global trade prospects positive developments,” said independent analyst Tina Teng.
“The economic data – which came better than expected than China – and withdrawing more than expected from US oil stocks are positive factors for oil prices,” she added.
The US Energy Information Administration said on Wednesday that US crude stocks decreased 3.9 million barrels to 422.2 million barrels last week, which is a more severe decrease than expectations that spoke about a decline of about 552 thousand barrels, which indicates a stronger activity of refineries, a decrease in supply and increased demand.
A report showed from Central Bank The American about the economy – which was issued yesterday – the recovery of the activity in the past few weeks, but the future outlook “neutral to somewhat pessimistic”, as companies said that the high customs duties on imports pressure prices.
Data from China showed slowdown in the second quarter of the year, but not to the extent that he was previously feared, due to reasons, including accelerating the pace of some activities to anticipate the American customs duties, which eased concerns about the state of the greater economy imported of crude oil in the world.
The data showed that refining crude in China’s refineries last June increased 8.5% on an annual basis, which means increasing demand for fuel.
“The support came from the positive news related to alleviating trade tension between China and the United States to some extent,” said John Bayzi, President of Stratas Advisers.
Trump lifted the ban on selling chips artificial intelligence To China, in addition to announcing a trade agreement with Indonesia.
gold
Decrease Gold price In immediate transactions 0.58% to $ 3327.98 an ounce in the latest transactions, US futures declined 0.73% to $ 3334.90.
The dollar index rose 0.27% against other major currencies, making the gold -based gold more expensive for other currencies.
“Gold decreased with the dollar regaining its momentum after the decline of the fog about the position of the Federal Reserve Chairman,” said Gigar Trevidy, a chief commodity analyst at Ryleins Squares.
A source told Reuters on Wednesday that Trump was open to the idea of dismissing Powell.
But Trump said yesterday that he did not intend to dismiss Powell, and yet he kept the door open to this possibility, and renewed the criticism of the Central Bank president for not cutting interest rates.
An unexpected stability data showed the prices of producers in the United States last June, as the value of services has been compensated for the increase in the cost of commodities due to customs duties imposed on imports.
On the trade level, a European Union spokesman said that the Commercial Commissioner of the Marush Shafshovic bloc went to Washington To hold talks on customs duties, adding that he would meet US Minister of Trade Howard Lootnick and American commercial actor Jimson Jarir.
The performance of other precious metals was as follows:
- Silver in immediate transactions fell 0.2% to $ 37.82 an ounce.
- Platinum fell 0.22% to $ 1420.43.
- Palladium fell 0.72% to 1229.85 dollars.