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 edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ production increases, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war. Brent crude futures rose 43 cents, or 0.7%, to settle at $66.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.8%, to settle at $62.79. In the U.S., the number of people filing for unemployment benefits rose slightly last week, indicating a resilient labor market despite economic turbulence caused by tariffs on imported goods. Companies raised prices and cut...
Gold prices rose on Thursday after falling more than 3% in the previous session, helped by a weaker dollar and bargain hunting, while market attention remained focused on the latest news on U.S.-China trade relations. Spot gold was up 1.4% at $3,333.90 an ounce, as of 1:46 p.m. EDT (1746 GMT). Bullion hit a record high of $3,500.05 on Tuesday on concerns about the U.S. economy, but prices fell on Wednesday after U.S. President Donald Trump walked back his threat to fire the Federal Reserve chief and appeared to soften his stance on China. U.S. gold futures settled 1.7% higher at $3,348.60....
Gold prices rose Thursday, on renewed demand from investors in the wake of the recent selloff. At 10:25 ET (14:25 GMT), Spot gold rose 0.9% to $3,317.19 an ounce, while gold futures expiring in June rose 1.1% to $3,329.65/oz. Gold had fallen from record highs this week after U.S. President Donald Trump raised the prospect of eventually reducing steep trade duties on China. But a lack of clarity on Trump's comments, coupled with less optimistic statements from other officials, made gold's fall short-lived. Traders remained cautious towards the dollar and Treasuries, keeping gold and the...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades lower, roughly 0.60% on Thursday. The knee-jerk reaction originates from United States (US) President Donald Trump and US Treasury Secretary Scott Bessent. Both individually said that no unilateral offer was made to China from the US to lower tariffs, while Trump said that reciprocal tariffs could be revisited if negotiations are not going the way the Trump administration wants them to go, Bloomberg reports. On the economic calendar front, Durable Goods is painting a very...
Oil rose as investors weighed the prospect of more OPEC+ supply and the fallout from trade tensions between the US and China. Brent climbed toward $67 a barrel after sliding 2% on Wednesday, while West Texas Intermediate was around $63. The dollar weakened, making commodities priced in the currency more appealing. Growing strain within OPEC+, particularly with perennial overproducer Kazakhstan, has stoked fears that output will continue to rise at a faster-than-advertised pace over the coming months. The Organization of the Petroleum Exporting Countries and its allies will hold...
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...