Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Oil prices inched up on Wednesday, with the U.S. barring Chevron (CVX.N), opens new tab from exporting crude from Venezuela and production shut-ins from Canada, while markets eyed an expected production increase from OPEC+. Brent crude futures rose 54 cents, or 0.8%, to $64.63 a barrel by 1050 GMT, while U.S. West Texas Intermediate crude gained 64 cents, or 0.9%, to stand at $61.45 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron (CVX.N), opens new tab that would let it keep assets in Venezuela but not export oil or expand activities, Reuters...
Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,319.61 an ounce, as of 1029 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,318.60. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance...
The Pound Sterling (GBP) recoups initial losses against the US Dollar (USD) during European trading hours on Wednesday after correcting to near 1.3460 earlier in the day. The GBP/USD pair bounces back as the US Dollar (USD) gives up initial gains despite firm hopes that the United States (US) and the European Union (EU) will reach a trade deal soon. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls back to near 99.50 from the intraday high of 99.85. On Tuesday, US President Donald Trump expressed confidence in a post on Truth.Social that the...
Oil prices inched up on Wednesday as investors considered supply risks after the U.S. barred Chevron (NYSE:CVX) from exporting crude from Venezuela under a new asset authorisation, though expectations of more output from OPEC+ continued to limit gains. Brent crude futures rose 7 cents, or 0.1%, to $64.16 a barrel by 0640 GMT, while U.S. West Texas Intermediate crude gained 9 cents, or 0.2%, at $60.98 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron that would allow it to keep assets in Venezuela but not to export oil or expand its activities, Reuters...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after registering more than 0.50% gains in the previous session. The DXY is trading around 99.60 during the European hours on Wednesday. Traders await the FOMC Minutes due later in the North American session. The US Dollar is gaining support amid growing optimism among US consumers following the Conference Board's Consumer Confidence Index rising to 98.0 in May from the previous 86.0 reading. Additionally, the emergence of bond market optimism is supporting the Greenback,...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...