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...
Brent crude oil futures dropped to around $69.9 per barrel on Monday as weak economic data from China and uncertainty over U.S. tariffs fueled demand concerns. China's consumer prices fell for the first time in 13 months, while producer price deflation persisted, underscoring deflationary pressures in the world's largest crude importer. Oil remains under pressure as President Trump's shifting tariff policies raised concerns on economic growth and energy demand. While Trump eased some tariffs on Mexico and Canada until April 2, Canada's retaliatory tariffs remain in place, and China's...
Oil fell to near the lowest since September as weak economic data from China compounded a dour outlook for demand. Brent crude traded near $70 a barrel, while West Texas Intermediate was below $67 after seven weeks of declines. China's consumer inflation dropped by more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the world's biggest crude importer. Crude has been hit by a confluence of bearish factors, including an escalating global trade war, plans by OPEC and its allies to increase production, and talks to end the...
Gold edges higher in the early morning Asian session, supported by prospects of a U.S. recession that could enhance the safe-haven appeal of the precious metal. In an interview with Fox News on Sunday, President Trump refused to rule out a recession for the U.S. this year. "Traders and investors are reacting to a sharp and sudden deterioration in U.S. economic data," Saxo Bank's Ole S. Hansen says in a research report. Gold's outlook is still supportive, especially given the limited scope of its latest correction, which signals strong demand despite selling pressure from technically...
Oil prices gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine. Brent crude futures settled at $70.36 a barrel, up 90 cents, or 1.3%. West Texas Intermediate futures finished at $67.04, up 68 cents, or 1.02%. Trump said in a post on Truth Social that he was "strongly considering" sanctions on Russian banks and tariffs on Russian products because its armed forces continue attacks in Ukraine. In early trade, Brent jumped as high as $71.40, while WTI hit $68.22 after Russia's Deputy...
Gold prices fell on Friday as the Greenback trims some of its losses and US Treasury bond yields recover following the release of a US jobs market report. At the time of writing, the XAU/USD trades at $2,907, down 0.11%. The US Bureau of Labor Statistics (BLS) released the February Nonfarm Payrolls (NFP) report, which showed that the economy added more people to the workforce than in January despite missing the mark. The same data showed that the Unemployment Rate remained within familiar levels with Federal Reserve (Fed) Governor Adriana Kugler saying that hiring remains above the...
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...