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 rose for a second day after the U.S. pledged to reduce Iran's energy exports to zero. West Texas Intermediate traded near $63 a barrel after rising nearly 2% on Wednesday, putting futures on track for their first weekly gain this month. Brent crude settled below $66. Treasury Secretary Scott Bessent said the U.S. would apply maximum pressure to disrupt Iran's oil supply chain, as his department sanctioned a second Chinese refinery accused of handling crude from the Islamic Republic. The so-called teapot refinery sanctioned by the U.S. — Shandong Shengxing Chemical Co. Ltd. — is suspected...
Gold prices just wrapped up their biggest daily gain since April 2020, when panicked investors were hoarding the precious metal during the Covid market meltdown. Gold futures rose 3.4%, or $107.90 a troy ounce, Wednesday to settle at $3,326.60, a fresh record. Futures are up 40% over the past year, blowing past Wall Street's expectations for 2025, but it isn't just nervous investors who are gobbling up gold. Central banks, particularly those in countries with strained relationships with the U.S., have been stockpiling gold as well. This trend took off in 2022 after Russia was sanctioned...
Gold prices keep their upside impulse well in place and hit an all-time peak just below the $3,330 mark per troy ounce on Wednesday. Further gains in the precious metal come from a weaker US Dollar, unabated uncertainty surrounding United States (US) tariffs and declining US yields across the curve. Source: Fxstreet
Oil prices rose around 1% on Wednesday, as the market drew some strength from the possibility of trade talks between China and the United States and a report that Iraq will cut oil production in April Brent crude futures rose 70 cents, or 1.08%, to $65.37 a barrel by 1311 GMT while U.S. West Texas Intermediate crude was also up 70 cents, or 1.14%, at $62.03. Prices rose after a Bloomberg report quoted an anonymous source as saying that China wants more respect from the Trump administration before it will agree to talks, analysts said. The source was also quoted as saying China wanted the...
Gold prices extended their surge to cross $3,310 per ounce on Wednesday, another record high, as the increasing unpredictability regarding US trade policy and low demand for the US dollar and Treasury securities left gold as one of the main safe-haven assets in the market. US President Trump launched a probe to place new tariffs on critical minerals, escalating the trade war with China shortly after concessions on autos and electronics. The move extended ongoing probes on copper, pharmaceuticals, lumber, and semiconductors, increasing the range of tariffs on key goods that the US has...
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...