Oil rises, gold and the dollar are declining by the impact of American fees economy

Oil prices rose today, Thursday, after a strong wave of sale during the previous days, which led them to the lowest level in years, but the ambiguity that surrounds the imposition of customs duties that the United States blew up since President Donald Trump took over, increased the supply limited to gains, and gold lost its slight gains that he made today, and economic fears pushed the dollar to a slight decrease against the rest of the main currencies, amid anticipation of investors non -agricultural jobs.

Oil

Oil prices rose today, Thursday, after a strong wave of sale that led them to the lowest level in years, but the ambiguity that surrounds the imposition of customs duties and the increase of supply is limited to gains.

Brent crude futures increased by 0.17% to $ 69.43 a barrel, in the latest transactions, and the US West Texas Intermediate crude rose 0.27% to $ 66.49 a barrel.

Brent crude decreased 6.5% in the previous four sessions to reach yesterday, Wednesday, to its lowest level since December 2021, while West Texas Intermediate crude fell 5.8% during the same period to its lowest level since May 2023.

“The sharp decline in oil prices below $ 70 may give prices an opportunity to rise in today’s session with the tendency of technical factors to stability,” said Yip John Rong, analyst at the IG Trading Platform, Yip John Rong.

He added: “But the momentum of recovery remains fragile in light of the dynamics of unfavorable for supply and demand.”

Prices fell after American customs duties entered into force on Canadian and Mexican imports, including energy, in conjunction with the major producers made a decision to raise production shares for the first time since 2022.

The decline decreased after the United States said it will excuse car manufacturers from 25%customs duties, which strengthened optimism by the possibility of alleviating the impact of the trade conflict.

A well -informed source said that US President Trump may cancel the 10% customs duties on Canadian energy imports, such as crude oil and gasoline, which are in line with existing trade agreements.

The morale in the market continued to support the declining trend of prices due to the double effect of customs duties and OPEC Plus increasing production.

The Energy Information Administration said on Wednesday that US crude stocks rose more than expected last week amid seasonal maintenance operations for refineries, but gasoline stocks and distillation products fell due to an increase in exports.

gold

Gold fell in instant transactions 0.55% to $ 2902.92 an ounce, in the latest transactions, and US gold futures fell 0.57% to $ 2909.2.

The dollar index fell to approach the lowest level in 4 months after the United States exempted car manufacturers from the 25% customs duties on Canada and Mexico for a month as long as it adheres to the existing free trade rules.

The White House said that US President Donald Trump is also open to hearing news about other products that must be exempted from customs duties.

“The (potential) delay in the US -toppled tariff war was pushing the dollar to decline, and for this reason it receives gold in support,” said Giggier Trevidy.

He added: “The general atmosphere is really positive for gold.”

The customs duties imposed by Trump caused tension in relations with both Canada, Mexico and China, and Canada and China were received by the imposition of anti -customs duties on specific American imports, and Mexico pledged to respond too.

Fears of Trump’s Gold Customs Policies, which is seen as a safe haven, have pushed a standard level at $ 2956.15 on February 24 and helped him achieve gains more than 11% since the beginning of the year.

Gold is usually seen as a means of hedging in times of political risks and inflation, but the high interest rates reduce the attractiveness of the precious metal that does not generate returns.

The market is currently awaiting the non -agricultural job report that will be issued tomorrow, Friday, and Economists said Reuters said that the report is expected to show an increase of 160,000 jobs in February.

As for other precious metals, its performance was as follows:

• Silver fell 0.52% to $ 32.49 an ounce.
• Platinum fell 0.3% at 966.20 dollars.
• Palladium fell 0.5% to 941.70 dollars.

Currency

The euro recorded the highest level in 4 months against the dollar today, after European bond returns, with the support of a proposal in Germany to create an infrastructure fund of 500 billion euros (539.85 billion dollars) and amend borrowing rules.

“The moves in the European markets were noticeable … as the German government will use, after a long time, its abundant public budget,” said Capital com, chief of financial market analysts, Kyle Roda.

He added: “The American commercial policy remains the largest source of uncertainty for markets,” but the exemption from customs duties on cars “supports hopes that wise voices will prevail in the White House, and that even if commercial relations do not improve, at least they will not worsen.”

The euro settled at $ 1.0792 in early trading in Asia, after it had earlier touched the level of $ 1.0803 for the first time since November 8.

The European Unified currency has increased by 4% this week, and is heading to record the best weekly performance since March 2020.

The pound rose to $ 1.2906, a level that has not been recorded since November 11, before settling at $ 1.2891.

The dollar index witnessed a marginal decline to score 104.21 points, which is below the level of 104.25, which reached last night for the first time since November 8.

The dollar fell 0.6% against the yen, which is seen as a safe haven, to reach the latest transactions to 147.88 yen.