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 rose on Tuesday as traders assessed the impact of a drone attack on Kazakhstan's main oil export route, while talks to end the war in Ukraine kept traders cautious as they could boost Russian supplies. Brent crude futures rose 61 cents to $75.83 a barrel by 1:38 p.m. EST, while U.S. West Texas Intermediate crude rose $1.10, or 1.6%, to $71.84 a barrel, tracking gains Brent posted on Monday, when the U.S. contract traded without settlement due to a holiday. Brent rose 48 cents in the previous session after Ukrainian drones attacked a pumping station in Russia on the Caspian...
Gold rose above $2,930 an ounce on Tuesday, marking a second session of gains and approaching a record high of $2,940 hit last week as uncertainty over U.S. tariffs continued to fuel demand for the safe-haven asset. Since taking office, Trump has imposed 10% tariffs on Chinese imports, announced but then delayed 25% tariffs on Mexican goods and non-energy imports from Canada, scheduled 25% tariffs on imported steel and aluminum, and is preparing reciprocal tariffs on any country that taxes U.S. imports. However, hawkish remarks from Federal Reserve officials capped further gains. Fed...
The U.S. dollar strengthened on Monday, as investors assessed key negotiations between U.S. and Russia on a deal to end the war in Ukraine and lingering tariff concerns, as well as an interest rate reduction by Australia's central bank. By 07:41 EST (12:41 GMT), the U.S. dollar index, which measures the greenback against a basket of major currencies, rose 0.4% to 106.99. The index declined more than 1% last week. The euro was 0.3% lower at $1.05, while sterling also eased 0.3% to $1.26. Officials from the U.S. and Russia are holding crucial talks in Saudi Arabia on a potential agreement...
Oil extended gains on Tuesday after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, though prices were kept in check by the prospect of rising supply. Brent crude futures gained 44 cents, or 0.6%, to $75.66 per barrel by 1014 GMT. U.S. West Texas Intermediate crude futures were up 91 cents from Friday's close to $71.65 a barrel. There was no settlement for WTI on Monday because of the U.S. Presidents' Day holiday. "The overriding theme driving oil prices lately has been around supply expectations. With the weakness in prices over past weeks, news...
EUR/USD declines to near 1.0450 in Tuesday's European session after failing to hold above the psychological resistance of 1.0500 in the last two trading days. The major currency pair slumps as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds after attracting bids near a two-month low and recovers to near 107.00 at the press time. The Greenback discovers buying interest as investors weigh in expectations that the Federal Reserve (Fed) will keep interest rates in the current range of 4.25%-4.50% for a longer period. On Monday, a slew of...
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...