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 fell for a third day on signs of progress in potential trade talks between the US and China, denting demand for safe havens. Bullion prices fell as much as 0.6% to trade near $3,275 an ounce. State-run China Central Television said the US had contacted Beijing through multiple channels. News that the Trump administration was close to announcing the first phase of a deal that would roll back planned tariffs on some countries also eased some concerns about the outlook for global trade. On Wednesday, the precious metal slid further from a record high hit last week, even after data showed...
Oil was little changed after posting its biggest monthly decline since 2021, as signs that the Saudi-led OPEC+ alliance may be entering a prolonged period of higher output added to concerns that a global trade war would hurt demand. West Texas Intermediate was trading around $58 a barrel after falling 3.7% on Wednesday, while the most-active Brent contract settled near $61. Reuters reported that Saudi officials have told allies and industry experts that the kingdom could endure a prolonged period of depressed prices, adding to existing concerns that the biggest oil exporter plans to direct...
USD/CHF is trading with losses, holding near recent lows after a wave of weak US data and worsening macro signals from China triggered broad risk-off flows in the market. Sentiment was already fragile heading into Wednesday, and the release of disappointing US GDP data raised concerns over the health of the US economy. At the same time, weak Chinese manufacturing and services PMIs revealed the first clear signs of stress from the escalating trade war, raising fears of a global economic slowdown. The US dollar was broadly under pressure, struggling to gain any momentum despite the month-end...
Oil prices fell on Wednesday, posting their biggest monthly drop in nearly 3-1/2 years after Saudi Arabia signaled moves to produce more and expand its market share, while a global trade war eroded the outlook for fuel demand. Brent crude fell $1.13, or 1.76%, to settle at $63.12 a barrel. U.S. West Texas Intermediate crude fell $2.21, or 3.66%, to settle at $58.21, its lowest close since March 2021. Brent fell 15% for the month and WTI slid 18%, their biggest monthly percentage declines since November 2021. Both benchmarks slumped after Saudi Arabia, one of the world's biggest oil...
Gold prices pared some losses on Wednesday as bets that the U.S. Federal Reserve will cut interest rates grew after U.S. growth in the first quarter came in weaker than expected. Spot gold fell 0.2% to $3,308.32 an ounce by 1:58 AM ET (1758 GMT), but was on track for a fourth straight monthly gain, up nearly 6% so far in April. Bullion had fallen more than 1% earlier in the session. U.S. gold futures settled 0.4% lower at $3,319.10. Data showed U.S. gross domestic product contracted at an annualized rate of 0.3% in the last quarter, as businesses rushed to import goods ahead of expected...
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...