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 were little changed on Tuesday as easing trade war concerns offset expectations OPEC+ will decide to increase output at a meeting later this week. Brent crude futures were down 28 cents, or 0.4%, at $64.46 a barrel by 1154 GMT, while U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to $61.20 a barrel. Easing trade war concerns are lifting prices, but the upside remains limited until it is clear what the OPEC+ will decide on Saturday, said UBS analyst Giovanni Staunovo. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will...
Gold prices declined more than 1% on Tuesday as the dollar's reversal to trade higher added to the pressure on the safe-haven asset following U.S. President Donald Trump's less aggressive trade stance towards the European Union. Spot gold was down 1.6% at $3,289.93 an ounce as of 1155 GMT. U.S. gold futures fell 2.3% to $3,287.80. Prices had softened on Monday as well after Trump, on Sunday, retreated from his threat to impose new tariffs on the European Union next month, instead reinstating a July 9 deadline for trade negotiations. "Gold trades lower for a second day with technical...
The U.S. dollar edged lower at the start of the week, weighed down by lingering deficit concerns and renewed trade tensions, despite U.S. President Donald Trump backing away from a proposed 50% tariff on European Union (EU) goods. According to ING, markets had already moved past April's tariff-related risks, instead focusing on the potential for trade deals in the months ahead. However, the latest standoff with the EU has brought those fears back into view. "If there's a lesson from April, it's that the dollar bears the brunt of tariff drama," the bank said. ING analysts noted that...
Gold (XAU/USD) price extends correction, sliding below the $3,300 mark at the time of writing on Tuesday amid improving risk-on mood and a stronger US Dollar (USD). Gold extends its decline for a second day this week as the US dollar caught up with some gains and demand for haven assets cooled, with investors also weighing prospects for improving trade relations between the US and the EU after US President Donald Trump said on Sunday that he agreed to an extension on the 50% tariff deadline on the European Union (EU) until July 9. The stronger USD gained momentum at the end of Asian...
Oil prices were little changed on Tuesday on increasing expectations members of the Organisation of Petroleum Exporting Countries and their allies, known as OPEC+, will decide to increase their output at a meeting later this week. Brent crude futures were up 11 cents, or 0.2%, at $64.85 a barrel by 0640 GMT, while U.S. West Texas Intermediate (WTI) crude rose 6 cents, or 0.1%, to $61.59 a barrel. The WTI contract did not settle on Monday because of the U.S. Memorial Day holiday. "Crude oil edged lower as the market contemplated the outlook for rising OPEC supply," Daniel Hynes, senior...
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...