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 clings to daily gains and trades near the record-high it set above $3,080 earlier in the day. Although the data from the US showed that core PCE inflation rose at a stronger pace than expected in February, it failed to boost the USD.The anti-risk flow is evident from a generally weaker tone around the equity markets, which, in turn, is seen driving safe-haven flows toward the precious metal. The global risk sentiment continues to be undermined by worries over US President Donald Trump's auto tariffs announced on Wednesday, the uncertainty about impending reciprocal tariffs next week,...
Oil prices were set for a third weekly gain on Friday as the U.S. ramped up pressure on Venezuela and Iran, though worries over whether Washington's tariff war could curb demand weighed on markets. Brent crude futures were flat at $74.03 a barrel at 1235 GMT and U.S. West Texas Intermediate crude futures were up 1 cent at $69.93 a barrel. Both contracts have gained about 2.5% so far this week, and have risen around 7% since hitting multi-month lows in early March. The main driver of the price rally has been the shifting landscape of global oil sanctions, BMI analysts wrote in a market...
Gold rose to a record amid concerns about a widening trade war after President Donald Trump pushed ahead with US tariffs on all auto imports. Bullion gained as much as 0.9% on Friday to top $3,085 an ounce, beating the previous record set a day earlier. It was on track for a fourth weekly gain, with prices supported by growing haven demand. Trump on Thursday signed a proclamation to slap a 25% tariff on auto imports and pledged harsher punishment on Europe and Canada if they join forces "to do economic harm" to the US. Markets are also bracing for a fresh wave of trade...
The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, before the release of personal income, spending and price data for February at 8:30 am ET. The final University of Michigan consumer sentiment reading for March is due to be released at 10:00 am ET at the same time as state unemployment data for February. The Kansas City Federal Reserve's services reading for March follows at 11:00 am ET and updates to the Atlanta and St. Louis Fed's gross domestic product growth Nowcast estimates are due around midday. Fed Governor Michael Barr is...
Oil prices retreated on Friday amid tariff-related demand concerns, but headed for a third weekly gain on a tightening global supply outlook after the U.S. placed more pressure on Venezuelan and Iranian oil trade. Brent crude futures lost 31 cents, or 0.4%, at $73.72 a barrel at 0742 GMT, falling for the first time after daily gains of seven consecutive sessions. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, to $69.59 a barrel. The downward corrections mirrored broader risk assets sell-offs on Friday, as the latest tariff salvo from U.S. President Donald Trump...
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...