Iraq Economic News and Points To Ponder Saturday Afternoon 12-13-25
Oil Prices Rise Due To Tensions Between The US And Venezuela.
Economy | 12/12/2025 Oil prices rose as the prospect of the United States seizing more Venezuelan oil tankers exacerbated supply concerns, but prices were still on track for a weekly decline amid optimism about a potential peace agreement between Russia and Ukraine.
Brent crude futures rose 29 cents, or 0.5 percent, to $61.57 a barrel by 0115 GMT, while U.S. West Texas Intermediate crude futures gained 31 cents, or 0.5 percent, to $57.91 a barrel.
Both benchmarks fell by about 1.5 percent on Thursday, according to Reuters.
Six sources familiar with the matter said on Thursday that the United States was preparing to seize more ships carrying Venezuelan oil after detaining a tanker this week, intensifying pressure on Venezuelan President Nicolas Maduro.
The tanker's seizure raised concerns about supply disruptions.
“After selling on expectations that supply pressures would ease amid hopes for a peace deal between Russia and Ukraine, buying to cut losses emerged after the U.S. seized a Venezuelan tanker,” said Hiroyuki Kikukawa, an analyst at Nissan Securities Investment.
“Peace negotiations between Russia and Ukraine will remain the main focus next week and beyond,” he added, noting that West Texas Intermediate crude could test the $55 level if a deal is reached.
A peace agreement between Russia and Ukraine would likely increase supplies of Russian oil, which is currently under Western sanctions.
The leaders of Britain, France, and Germany spoke by phone on Wednesday with U.S. President Donald Trump to discuss Washington’s latest peace efforts to end the war in Ukraine, in what they described as a “crucial moment” in the process.
But on Thursday, a Ukrainian security official said that Ukraine had launched a drone attack targeting, for the first time, a Russian oil platform in the Caspian Sea, halting production at the Lukoil-owned facility.
Meanwhile, the International Energy Agency (IEA) raised its forecast for global oil demand growth in 2026 while lowering its supply growth forecast in its latest monthly oil market report released Thursday.
The IEA attributed the higher demand forecast to a stronger global economy and reduced supplies from countries under sanctions.
However, data released Thursday by the Organization of the Petroleum Exporting Countries (OPEC) indicated that global oil supply will converge with demand in 2026, a prediction that contradicts the IEA's and other forecasts of a significant supply glut. https://www.mawazin.net/Details.aspx?jimare=271476
A Historic Figure: Silver Price Rises Above $65 For The First Time
Stock Exchange The price of silver on the stock exchange hit a new record high on Friday, rising above $65 an ounce for the first time in history.
Silver futures for March delivery rose 0.67% from the previous close to $65.028 an ounce. This is the first time the price has surpassed the $65 mark.
During the week, global silver prices recorded an unprecedented jump, as the white metal yesterday surpassed the $60 per ounce mark in spot trading for the first time in its history, driven by a shortage of global supplies and rising industrial demand. https://economy-news.net/content.php?id=63336
Gold Is Stable, Supported By Interest Rate Cuts, While Silver Is Nearing A Record High
Economy | 12/12/2025 Mawazin News - Gold stabilized after three days of gains, supported by expectations of further monetary easing in the United States following this week's interest rate cut. Silver traded near a record high.
The precious metal remained virtually unchanged at around $4,280 an ounce, after rising 1.2% in the previous session.
Federal Reserve policymakers left the door open for further interest rate cuts next year after reducing borrowing costs on Wednesday. Swap traders are betting on two cuts in 2026, even though the US central bank is signaling only one.
A low interest rate environment supports precious metals, including gold and silver, as they do not pay interest. To further support the precious metal, the Federal Reserve will begin purchasing $40 billion a month of short-term Treasury bonds on Friday as part of its efforts to rebuild reserves in the financial system.
Gold has surged more than 60% this year, while silver prices have more than doubled, putting both metals on track for their best annual performance since 1979. These sharp gains have been fueled by increased central bank purchases and a decline in investor appetite for government bonds and currencies. According to the World Gold Council, holdings in gold-backed exchange-traded funds (ETFs) have risen in every month this year except May.
Meanwhile, silver has been supported in recent weeks by strong demand, tight supply, and imbalances in major trading positions. The white metal hit a record high of $64.3120 an ounce on Thursday.
Gold was nearly unchanged at $4,280.34 an ounce by 7:30 a.m. in Singapore. Silver slipped 0.1% to $63.5080.
Platinum and palladium also edged lower. The Bloomberg Dollar Index was steady after closing 0.3% lower in the previous session. https://www.mawazin.net/Details.aspx?jimare=271482
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