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...
Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss. Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22. U.S. gold futures rose 1.3% to $3,262.10. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for...
Oil headed for a second weekly loss as OPEC+ prepared to weigh further production increases, while traders assessed the latest developments in the US-China trade standoff. Global benchmark Brent futures traded near $62 a barrel on Friday, with the July contract down about 6% this week on expectations that Saudi Arabia will steer OPEC+ to announce another supply boost on Monday. West Texas Intermediate held below $60. Prices pared some of their losses after US government data showed that job growth was robust in April and the unemployment rate held...
Silver price (XAG/USD) moves higher to near $32.60 during European trading hours on Friday. The white metal gains as the US Dollar (USD) corrects ahead of the United States (US) Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT. The US Dollar index (DXY), which tracks the Greenback's value against six major currencies, retraces to near 99.90 from the two-week high of 100.37. Technically, a lower US Dollar makes the Silver price a value bet for investors. The US NFP report is expected to show that the economy added 130K fresh workers, significantly lower than the...
Oil prices inched up on Friday after China said it was open for talks with the United States on tariffs, raising hopes of a de-escalation in a bitter trade war between the world's two largest economies and oil consumers. Brent crude futures were up 9 cents, or 0.1%, to $62.22 a barrel at 0804 GMT, while U.S. West Texas Intermediate crude futures were up 6 cents, or 0.1%, to $59.30 a barrel. For the week, Brent was on track for a 7% decline and WTI was down 6% so far, the biggest weekly declines in a month. China's Commerce Ministry said on Friday that Beijing was...
Gold gained on Friday as investors rushed to buy the metal a day after its prices hit a two-week low amid receding trade tensions, while the market's focus shifted to the U.S. non-farm payrolls report due later in the day. Spot gold rose 0.4% to $3,254.51 an ounce, as of 0610 GMT. Gold hit its lowest level since mid-April in the previous session and has lost nearly 2% so far this week, the steepest weekly fall since late February. U.S. gold futures rose 1.3% to $3,263. "There have been softening stance (on tariffs) and situation has improved a bit, but still there are a lot of...
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...