Oil prices gained on Wednesday, buoyed by escalating risk as US–Iran talks remained tenuous, while signs of an easing surplus spurred by better demand support from India also added strength.

Brent crude oil futures were up 57 cents, or 0.83 per cent, at $69.37 a barrel by 07:11 GMT. US West Texas Intermediate crude rose 56 cents, or 0.88pc, to $64.52.

“Oil retains a bullish tail-risk bid as US-Iran talks continue but remain fragile, keeping the Strait of Hormuz risk premium supported amid ongoing sanctions pressure, tariff threats tied to Iranian trade, and heightened US regional military posture,” LSEG analysts wrote in a report.

Iran’s foreign ministry spokesperson said on Tuesday that nuclear talks with the US allowed Tehran to gauge Washington’s seriousness and showed enough consensus to continue on the diplomatic track.

Diplomats from Iran and the US held talks in Oman last week in an effort to revive diplomacy, after US President Donald Trump positioned a naval flotilla in the region, raising fears of new military action.

While oil prices first eased after Oman’s foreign minister said discussions tied to the US-Iran talks with Iran’s top security official were productive, hopes of a peaceful resolution were later dashed following reports that the US may send a second aircraft carrier to the Middle East if talks fail, ANZ analysts said in a note.

Trump said on Tuesday he was considering sending a second aircraft carrier to the Middle East, even as Washington and Tehran prepare to resume negotiations aimed at averting a new conflict.

Also supporting oil prices were signs of easing surplus, as markets absorbed some surplus barrels seen in the last quarter of 2025.

“With mainstream oil on water returning to normal levels and demand for it in India rising, oil prices are likely to remain supported in the near term,” Vortexa market analyst Xavier Tang said.

Indian refiners are avoiding Russian oil purchases to help New Delhi seal a trade pact with Washington, in turn stepping up purchases of oil from the Middle East and West Africa.

Traders are also waiting for weekly US oil inventory data from the Energy Information Administration on Wednesday.

Analysts polled by Reuters estimated on average that crude inventories rose by about 800,000 barrels in the week to February 6, while distillate and gasoline inventories likely fell by about 1.3 million barrels and 400,000 barrels, respectively.

US crude inventories rose by 13.4m barrels in the week ended February 6, market sources said, citing American Petroleum Institute figures on Tuesday.

Source link

Pakistan’s benchmark index, KSE-100, was trading marginally higher during early intraday trading at 11:20am on Wednesday, up 1,237.11 points from its previous close of 183,390.66 points on Tuesday.

Market participation remained steady with trading volumes of 144,531,284 at a value of 9,557,403,312, contributing to the increase of 0.68 per cent from its previous close.

The top active stocks so far have been led by K-Electric Limited with a volume of 53,256,821, gaining 1.97pc to Rs8.80, followed closely by Cnergyico PK Limited at a volume of 50,242,277, rising 0.14pc to Rs8.39, and Pak Qatar General Takaful Limited with a volume of 14,013,540, increasing 8.90pc to Rs16.77.

The top advancers so far have been Kohinoor Power Company Limited, rising 10.01pc to Rs33.95, Javedan Corporation (Pref), gaining 10.01pc to Rs91.80, and Engro Polymer & Chemicals Limited, increasing 10pc to Rs36.29.

The top decliners were led by East West Insurance Company Limited, falling 9.37pc to Rs51, followed by Nazir Cotton Mills Limited, declining 9.10pc to Rs17.27, and Tariq Corporation Limited falling 8.76pc to Rs19.79.

Source link

Gold and silver prices rose on Wednesday as US Treasury bond yields fell after data showed December retail sales growth stalled, signalling a softening economy ahead of key jobs data.

Lower US yields reduce the opportunity cost of holding non‑yielding assets such as gold, and they often accompany macroeconomic shifts, like expectations of slower growth or looser policy, that tend to support precious metals.

Spot gold was 0.7 per cent higher at $5,057.23 per ounce by 04:23 GMT.

US gold futures for April delivery gained 1pc to $5,081.40 per ounce.

Spot silver was up 2.3pc at $82.56/oz, after falling more than 3pc in the previous session.

“Over the last couple of weeks, (precious metals) became very dislocated from fundamentals, so it pretty much decoupled from interest rate policy. Yields being lower are obviously supportive of gold today,” said Kyle Rodda, a senior market analyst at Capital.com.

US yields fell on Tuesday after a raft of data suggested the economy may be softening, giving the US Federal Reserve more room to cut interest rates.

US retail sales were unchanged in December as households scaled back spending on motor vehicles and other big-ticket items, potentially setting consumer spending and the economy on a slower growth path.

“After soft retail sales numbers, there’s the expectation that perhaps, further and deeper rate cuts may be needed more imminently than previously thought,” Rodda added.

Federal Reserve Bank of Cleveland President Beth Hammack, however, said on Tuesday that the US central bank faces no urgency to change the setting of interest rates this year amid a “cautiously optimistic” outlook for economic activity.

Investors expect at least two 25-basis-point rate cuts in 2026, with the first one expected in June. Non-yielding bullion tends to do well in low-interest-rate environments.

Investors await the non-farm payrolls report for January, due later in the day, and inflation data on Friday for more cues on the Fed’s monetary policy path.

Spot platinum rose 2.1pc to $2,131.60 per ounce, while palladium added 2pc to $1,741.78.

Source link