Oil for May delivery rose as much as 38 cents, or 0.4 percent, to $106.45 a barrel in electronic trading on the New York Mercantile Exchange at 11:19 a.m. Sydney time.

Futures dropped $2.49 percent yesterday to $106.07, the lowest close since March 15. The April contract, which expired at the end of floor trading yesterday, fell 2.3 percent to $105.61, the biggest decline in three months.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

• The price gap between oil and gold points to a recession and $4,000 gold - Bloomberg’s Mike McGlone   (2025-05-07 08:35:35)
• Gold surges ahead of Fed meeting, silver and platinum prices struggle to regain key support - FX Empire’s Zernov   (2025-05-06 08:26:08)
• Gold prices hold above $3,300 amid economic concerns: Where are prices headed?   (2025-04-30 08:37:50)
• With gold sentiment peaking, it may be silver’s time to shine - NDR’s Bauer   (2025-04-29 06:13:03)
• Bearish turn on Wall Street and Main Street after multi-session gold selloff saps metal’s momentum   (2025-04-26 05:50:48)
• Gold prices drop 6% from all-time highs, but the rally is far from over   (2025-04-26 05:45:38)
• Investors should be more nervous about equity markets than gold above $3,000 - Sprott’s Ryan McIntyre   (2025-04-25 06:32:26)
• Gold hits $3,500 as dollar trust erodes, Fed pressure mounts, Axel Merk warns of ‘mania of our policymakers’   (2025-04-23 07:03:02)
• Wall Street experts and Main Street investors grow more cautious with gold above $3,300/oz but still bullish on balance   (2025-04-19 07:07:19)
• Gold is overbought, but remains well supported as US dollar weakens   (2025-04-18 06:06:52)