
Oil Market Softens Ahead of OPEC+ Meeting as Sanction Risks Fade"
PEC+ is scheduled to meet this weekend, with the expectation that the group will agree on an output hike for December

PEC+ is scheduled to meet this weekend, with the expectation that the group will agree on an output hike for December

Positive developments in US-China trade talks over the weekend provided a boost to risk assets, including large parts of the commodities complex

Spot gold prices sold off aggressively yesterday as participants took profits in a market that has been extremely overbought

The energy commodity hasn't had its best performance this year. Oil got caught in the mix of many geopolitical headwinds between large supply from OPEC+ for internal reorganization (they want to force out some producing countries of the organization), Russia flooding the Market to pay for its war, downward revised global outlooks and tensions in the Middle East.

Stocks closed sharply higher and Treasury yields climbed after reports that President Donald Trump's tariff plan may use a more targeted approach than previously thought, boosting risk appetite. The dollar strengthened as U.S. business activity picked up in March, pushing gold lower. Oil prices were up on Venezuela oil and gas tariffs.



