EUR/USD
1.16013
0.263%
Gold
4321.71
2.638%
Oil
79.137
-4.517%
USD/JPY
160.260
0.037%
GBP/USD
1.34280
0.130%
GBP/JPY
215.202
0.168%
Real-time News
Citigroup has raised its 3-month gold price forecast to $4,500 per ounce and its silver price forecast to $70 per ounce.Citigroup has lowered its oil price forecast to its previous bearish scenario, with updated quarterly oil price forecasts of $75 and $70 per barrel for the third and fourth quarters of 2026, respectively.June 16 – As the Trump administration nears completion of its plan to release 172 million barrels from the Strategic Petroleum Reserve (SPR) to mitigate soaring fuel prices triggered by the Iran war, the U.S. emergency crude oil reserves have fallen to their lowest level since 1983. According to data released Monday by the U.S. Department of Energy, the Strategic Petroleum Reserve (established in the early 1970s following the Arab oil embargo) has fallen to approximately 340 million barrels, near its all-time low. If the plan is completed, this will be the second-largest release in the reserves history, leaving approximately 243 million barrels, just about one-third of its statutory capacity. The dwindling inventory reduces the U.S.s flexibility in responding to future supply disruptions. A Department of Energy spokesperson stated that the government is managing the reserve according to its intended purpose: to help stabilize the oil market, protect the U.S. from supply disruptions, and make the U.S. more energy secure.Fitch Ratings: If the agreement fully opens the Strait of Hormuz, the global oil market is expected to return to oversupply within about a month.Fitch Ratings: (Regarding a potential US-Iran deal) believes that Irans nuclear program and capabilities will remain a source of tension in its relations with the US and Israel.
