Oil prices on track for a tumble in H2 2018 - Barclays

Dhwani Mehta FXStreet

In an interview with CNBC's "Squawk Box" late-Monday, Barclays' Head of Energy commodities research, Michael Cohen noted that he expected oil prices to remain elevated during the summer driving season, but are likely to head lower in the second half of this year.

Key Quotes:

“The Syria conflict, which puts Western powers at odds with Russia and Iran, is not going away anytime soon.

An escalation there could precipitate an escalation in the Saudi-led war in Yemen, in Saudi Arabia's restive eastern provinces or in Iraq during parliamentary elections next month.

Also next month, President Donald Trump must decide whether to restore sanctions on Iran, OPEC's third-biggest oil producer.

All of this is going to add to headline risk at the very same time that we're gearing up for the driving season," when demand for refined fuels like gasoline increases.

So in our view, we think prices are skewed to the upside this quarter, but we're looking for a correction as we go into the second half of the year and into next year."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.