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 on Wednesday extended its decline from an all-time high, dropping more than 3%, as risk appetite increased after President Donald Trump said he had no plans to fire the U.S. Fed chief and also signaled progress with China on tariffs. Spot gold fell 3% to $3,281.6 an ounce by 1:43 p.m. ET (1743 GMT), after hitting a record high of $3,500.05 in the previous session. U.S. gold futures fell 3.7% to $3,294.10. "The market is starting to move past the tariffs. You're going to see a broad rotation out of some of the safe havens back into some of the names like Apple, Tesla," said Phillip...
Gold on Wednesday extended its retreat from an all-time high, as appetite for riskier assets improved after President Donald Trump said he has no plans to fire the U.S. central bank chief and also signalled progress with China on the tariff front. Spot gold slipped 2.2% at $3,305.79 an ounce by 09:23 a.m. ET (1323 GMT), after hitting a record high of $3,500.05 in the previous session. U.S. gold futures dropped 2.9% to $3,320.40. "The market is starting to move past the tariff crash. You're going to see a broad rotation out of some of the safe haven assets back chasing some of the specific...
Oil turned lower after Kazakhstan said it will prioritize national interests over those of the OPEC+ alliance, a move that risks fueling further tensions within the cartel. Brent futures were earlier up 1.8% before erasing that gain. Kazakhstan's newly appointed energy minister said the country is not able to reduce production at its three largest projects as they are controlled by international oil majors, Reuters reported. Earlier this month the Organization of the Petroleum Exporting Countries and its allies unexpectedly announced plans to hike output at three...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat near 99.20 at the time of writing on Wednesday after an earlier attempt to test the 100.00 big figure in early Asian trading. The pop in the DXY came on the back of comments from United States (US) President Donald Trump late Tuesday, saying that he had no intention of firing Federal Reserve (Fed) Chair Jerome Powell, despite being frustrated with the high interest rates. The President also said he would be ‘nice' to China if they come to the negotiating table,...
Oil prices climbed more than 1% on Wednesday, extending the prior day's gains, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from President Donald Trump towards the Federal Reserve. Brent crude futures climbed $1, or 1.5%, to $68.44 a barrel at 0640 GMT, while U.S. West Texas Intermediate crude was up 99 cents, or 1.6%, at $64.66 a barrel. The U.S. issued new sanctions targeting Iranian liquefied petroleum gas and crude oil shipping magnate Seyed Asadoollah Emamjomeh and his corporate network on Tuesday. Emamjomeh's network is...
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...