From Investing.com: 2025-04-14 02:48:00

Oil market trading is subdued after second consecutive weekly losses. Trump administration’s tariff exemptions for some electronics offer initial support, but uncertainty returns as exemptions may be temporary. US-Iran talks signal progress, with further discussions planned, potentially easing sanction risks. Speculators reduce net longs significantly, largest selling since 2015, as market sentiment shifts negatively.

US oil rig count drops by 9, largest decline since June 2023, due to weak market. WTI prices discourage further drilling activity. China to release March trade data, OPEC to issue oil market report, possible demand revisions due to recent tariff developments. Prices near current levels may lead to more drilling declines.

Chinese gold ETF inflows hit record amid trade tensions, reaching nearly 3 billion yuan. Comex gold futures see managed money net longs decrease significantly, reflecting broader market volatility. SHFE data shows base metals inventories falling, with copper and aluminium stocks declining due to increased buying following price weakness.



Read more at Investing.com: Oil Markets Watch US-Iran Talks as Steady Prices Threaten Drilling