Lively day in international markets, especially when it comes to commodities concerns. The barrel of petroleum products is soaring, at the same time as gold rises more than 2%after recording the biggest losses since 2020.
The origin is the new US sanctions on the two largest Russian oil companies. Donald Trump’s decision shakes the market and generates a strong feeling of insecurityincreasing the demand for “black gold” and for gold itself.
Used as a reference in European markets, the barrel of Brent advances 4.73% and is trading at around $65.55. At the same time, o WTI (reference in the USA), advance 4.87% and is at 61.35 dollars per barrel, at around 3:51 pm this Tuesday, October 23rd.
Sentiment stabilized slightly, after increases had already surpassed 5%, reaching two-week highs. The significant increase is linked to North American sanctions on Rosneft and Lukoilas part of Donald Trump’s efforts to pressure Putin to end the war with Ukraine.
Insecurity among investors values gold
The most traded ore on international markets is gold. Historically, this benefits from environments marked by economic or geopolitical instability, as is the case.
Now, after jaguar futures approached, for the first time, 4,400 dollars on Monday, in the following two days investors sought to redeem capital gains. Consequently, negotiations, fell 8% in less than 48 hours and reached around 4,030 dollars, on Wednesday afternoon.
On Tuesday, the day was particularly punishing for “black gold”, which depreciated by more than 5% and witnessed the biggest drop since 2020.
This Thursday, the markets regain positive sentiment. If the historic highs at the beginning of the week were reached benefiting from the trade war between the USA and China, tensions generated by US sanctions on Russian oil companies now lead gold to register gains of 2.43%, to reach 4,164 dollars per ouncewe markets.
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