Topic: #commodities
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OPEC Raises 2027 Oil Demand Forecast to 1.94M Barrels Per Day
OPEC revised its 2027 global oil demand growth forecast to 1.94 million barrels per day, up from 1.73M bpd, while lowering its 2026 estimate to 780,000 bpd amid short-term economic uncertainties and anticipated rebound driven by China and India growth.
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Gold falls as US-Iran tensions drive oil prices higher, Fed rate hike looms
Gold slipped to $4,118.71 per ounce amid surging oil prices triggered by US-Iran strikes, while inflationary pressures reinforce expectations of a Federal Reserve rate hike by October under Chair Kevin Warsh.
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US-Iran agreement stabilizes gold and crypto markets
A tentative US-Iran agreement struck May 28 requires Iran to clear mines from the Strait of Hormuz within 30 days. Gold has stabilized near $4,700 per ounce and Bitcoin sentiment has steadied, though traders remain cautious about durability.