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Oil Slips on Russian Supply Outlook While Gold Gains on Fed Rate Hopes
M
Moneycontrol•19-10-2026, 07:50
Oil Slips on Russian Supply Outlook While Gold Gains on Fed Rate Hopes
- •Crude oil prices declined after US President Donald Trump waived sanctions and tariffs on Russia, raising expectations of increased fuel exports.
- •Brent crude futures dropped $1.43 to $108.43 a barrel, while US West Texas Intermediate fell 53 cents to $100.88 a barrel.
- •Gold prices opened higher, trading near $4,180 an ounce, as traders scaled back bets on a Federal Reserve interest rate hike.
- •Silver fell 0.4% to $57.13, with platinum and palladium also recording declines.
- •The US dollar edged up as the euro dipped following violent protests in France.
Key Questions Answered
Crude oil prices fell after US President Donald Trump waived tariffs and sanctions on Russia, which is expected to result in higher Russian fuel exports.
Gold prices climbed as traders reduced bets on a Federal Reserve interest rate hike following comments from Fed Chair Kevin Warsh.
The protests put pressure on the euro, causing it to drop 0.1% to $1.1225, which helped steady the greenback as trading began in Asia.
