{"id":64955,"date":"2025-12-18T17:48:26","date_gmt":"2025-12-18T17:48:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/commodity-wrap-silver-hits-new-ath-oil-jumps-2-as-trump-orders-tanker-blockade\/"},"modified":"2025-12-18T17:48:26","modified_gmt":"2025-12-18T17:48:26","slug":"commodity-wrap-silver-hits-new-ath-oil-jumps-2-as-trump-orders-tanker-blockade","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/commodity-wrap-silver-hits-new-ath-oil-jumps-2-as-trump-orders-tanker-blockade\/","title":{"rendered":"Commodity wrap: silver hits new ATH; oil jumps 2% as Trump orders tanker blockade"},"content":{"rendered":"

(Originally posted on : Gold News, Latest Stories & Analysis | Invezz )<\/b>
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Silver prices hit fresh record highs on Wednesday, above $66 per ounce.<\/p>\n

Gold prices also advanced on Wednesday, with softer labour market data from the US on Tuesday signalling a cooling economy.\u00a0<\/p>\n

Meanwhile, oil prices jumped more than 2% as US President Donald Trump ordered the blockade of all sanctioned oil tankers entering and leaving Venezuela.\u00a0<\/p>\n

Silver hits record high<\/h2>\n


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The silver contract on COMEX rose more than 4% to hit $66.630 per ounce for the first time.\u00a0<\/p>\n

The rally was fueled by a mixed US employment report, according to a FXstreet report.\u00a0<\/p>\n

While job creation surpassed expectations, the unemployment rate climbed to 4.6% in November\u2014the highest level since 2021.\u00a0<\/p>\n

This ambiguity in the labour market data spurred investor interest in high-return assets for portfolio diversification.\u00a0<\/p>\n

The nearly 130% year-to-date gain in silver is underpinned by several factors: decreasing inventories, strong demand from retail investors, and robust industrial consumption.\u00a0<\/p>\n

This industrial demand is particularly fueled by growth in key sectors like solar energy, electric vehicles (EVs), and data centres.<\/p>\n

\u201cUpside momentum remains strong, with the daily MACD pushing even further up into seriously overbought territory,\u201d said David Morrison, senior market analyst at Trade Nation.\u00a0<\/p>\n

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That is undoubtedly a danger sign. But it\u2019s one that everyone can see, and, as said before, markets can remain overbought, or oversold, for seemingly ridiculous periods of time.<\/p>\n<\/blockquote>\n

Due to the relatively small size of the silver market, prices can be significantly driven up when there is a surge in buying activity, Morrison added.<\/p>\n

Gold edges higher<\/h2>\n


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Gold prices also rose as the prospect of further easing of monetary policy by the US Fed remained high.\u00a0<\/p>\n

Lower interest rates benefit non-yielding commodities such as bullion.\u00a0<\/p>\n

Gold is currently finding support from several factors, including the dovish outlook for the Federal Reserve, ongoing economic uncertainty, and geopolitical tensions, according to ActivTrades analyst Ricardo Evangelista.<\/p>\n

Despite an increase of 64,000 in nonfarm payrolls, the US unemployment rate climbed to 4.6% in November, reaching its highest point since September 2021.<\/p>\n

Last week, the Federal Reserve delivered its third and final quarter-point rate cut for the year. <\/p>\n

Chair Jerome Powell\u2019s subsequent comments were interpreted as less hawkish than anticipated. <\/p>\n

Following this, traders are now pricing in two 25-basis-point cuts for 2026.<\/p>\n

This week, market focus will be on crucial US inflation data, with the Consumer Price Index (CPI) due on Thursday and the Personal Consumption Expenditures (PCE) data following on Friday.<\/p>\n

Morrison said:<\/p>\n

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Today\u2019s move was supported by a softer dollar and increased confidence that US interest rates are likely to trend lower in 2026, reducing the opportunity cost of holding non-yielding assets.\u00a0<\/p>\n<\/blockquote>\n

Oil jumps<\/h2>\n


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Oil prices saw a sharp rebound overnight, continuing their rally this morning. <\/p>\n

This upward trend was sparked by President Trump\u2019s order for a complete blockade of all sanctioned oil tankers entering or leaving Venezuela.<\/p>\n

At the time of writing, the price of West Texas Intermediate crude was at $56.10 per barrel, up 1.8%, while Brent was 1.7% higher at $59.93 a barrel.\u00a0<\/p>\n

On Tuesday, Trump announced an order for a blockade against all sanctioned oil tankers moving into and out of Venezuela. <\/p>\n

He also stated that he now views the nation\u2019s leadership as a foreign terrorist organisation.<\/p>\n

\u201cRussian risks are well telegraphed, but there are clear risks to the Venezuelan oil supply,\u201d ING Group head of commodities strategy Warren Patterson said in a note.<\/p>\n

Following the US seizure of an oil tanker off the Venezuelan coast last week, Venezuela\u2019s oil exports for November totalled approximately 600,000 barrels per day.<\/p>\n

Patterson said:<\/p>\n

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It\u2019s likely that these volumes will fall given the latest developments. The bulk of this oil is shipped to China.\u00a0<\/p>\n<\/blockquote>\n

Despite strong Chinese oil imports, recent reports indicate the country is accumulating these resources as a stockpile rather than immediately utilising them for manufacturing or other purposes.<\/p>\n

US inventories showed a significant drop, which helped to bolster prices.\u00a0<\/p>\n

Market sources, citing Tuesday\u2019s American Petroleum Institute figures, indicated that crude stocks fell by 9.3 million barrels last week.\u00a0<\/p>\n

This decline is substantially greater than the 1.1 million-barrel drop forecasted by analysts in a Reuters poll, and is awaiting confirmation from the Energy Information Administration\u2019s data due later on Wednesday.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Gold News, Latest Stories & Analysis | Invezz ) Silver prices hit fresh record highs on Wednesday, above $66 per ounce. Gold prices also advanced on Wednesday, with softer labour market data from the US on Tuesday signalling a cooling economy.\u00a0 Meanwhile, oil prices jumped more than 2% as US President […]<\/p>\n","protected":false},"author":3947362381,"featured_media":64956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/64955"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362381"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=64955"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/64955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/64956"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=64955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=64955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=64955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}