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...
Crude oil prices rose early Friday, but remain on track for a third straight week of declines as U.S. President Donald Trump's tariff announcements and a potential trade war with China weigh on the market. Brent crude gained 0.7% to US$74.81/barrel and West Texas Intermediate crude increased 0.7% to US$71.07/b at last look. Oil prices found some support from the U.S. Treasury's announcement of new sanctions on a few individuals and tankers helping to ship Iranian crude to China, Reuters said in a Friday report. "Oil prices saw some stability return this morning following a volatile...
Gold's price (XAU/USD) edges higher and trades back up near $2,865 at the time of writing on Friday after its rather sluggish performance the previous day. The pickup in the rally comes ahead of the US Nonfarm Payrolls (NFP) report later in the day. A weaker number would benefit Gold, with rate cut odds from the Federal Reserve (Fed) increasing. Meanwhile, headlines emerged on Friday that China's central bank, the People's Bank of China (PBOC), has expanded its Gold reserves for a third month in a row. Even at fresh all-time high prices, the central bank bought roughly 0.16...
Silver held steady above $32.20 an ounce on Friday, on track for its fifth weekly gain in six years. The precious metal was supported by a weaker dollar, as concerns over escalating global trade tensions eased. Both the U.S. and China have taken a more cautious stance on tariffs, with U.S. President Donald Trump and Chinese President Xi Jinping set to discuss trade developments, potentially reversing some of the existing restrictions. Silver is also benefiting from expectations that the U.S. Federal Reserve will continue to cut interest rates this year, with markets anticipating two...
Gold (XAU/USD) prices surrendered most of its intraday gains heading into the European session on Friday (February 7), although remained close to the record highs touched earlier this week. The US Dollar (USD) moved higher amid some repositioning trade ahead of the release of the US Nonfarm Payrolls (NFP) report, which in turn, was seen as a key factor acting as a headwind for the commodity. That said, concerns over escalating US-China trade tensions and the economic impact of US President Donald Trump's trade policies might continue to act as a tailwind for the safe-haven Gold prices....
Oil prices edged up in Asian trade on Friday but were on track for a third straight weekly decline, fueled by U.S. President Donald Trump's renewed trade war with China and threats of tariffs on other countries. Brent crude was up 32 cents at $74.61 a barrel by 0500 GMT, but is expected to drop 2.8% this week. U.S. West Texas Intermediate crude, meanwhile, was up 24 cents at $70.85 a barrel, down about 2.3% for the week. "Oil prices have stabilized this morning after a volatile session overnight, as traders react to news of U.S. sanctions on Iranian crude exports to China," said Yeap Jun...
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...