OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
The STOXX 50 fell 0.6% and the STOXX 600 fell 0.4% on Monday, reflecting a slight flight to safety as tensions in the Middle East escalated. Market sentiment was shaken after the US became more involved in the Israeli conflict, launching an attack on Iran over the weekend. Despite the heightened geopolitical risks, the market reaction was less severe than anticipated, with traders awaiting Iran's response and hoping the conflict could be resolved. The main concern remains the potential closure of the Strait of Hormuz, which could significantly disrupt oil markets. Meanwhile, flash PMIs...
Japanese stocks fell after the close on Monday (6/23), as losses in the Paper & Pulp, Transportation and Communications sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.01%. The best performers on the Nikkei 225 were Chugai Pharmaceutical Co., Ltd. (TYO:4519), which rose 4.47% or 321.00 points to trade at 7,510.00 at the close. Meanwhile, Sapporo Holdings Ltd. (TYO:2501) rose 4.38% or 315.00 points to close at 7,500.00 and Bandai Namco Holdings Inc. (TYO:7832) gained 2.17% or 106.00 points to 5,000.00 in late trade. The worst performers on the session were...
Hong Kong shares fell 94 points, or 0.4%, to 23,431 in early trading on Monday, reversing gains from the previous session amid a sharp decline in U.S. stock futures as tensions in the Middle East escalated. The U.S. State Department issued a "global caution" warning after Tehran vowed retaliation in response to President Donald Trump's attack on an Iranian nuclear power site. Investors were also cautious as they digested China's FDI data, which showed a 13.2% year-on-year decline in the first five months of the year, despite a surge in high-tech investment. (alg) Source: Trading Economics
The Nikkei 225 fell 0.7% to below 38,200, while the broader Topix index dropped 0.8% to 2,750 on Monday, marking a third straight session of losses for Japanese equities. The selloff followed US airstrikes on three Iranian nuclear sites over the weekend, a major escalation in the Middle East as the US joins Israel in its conflict with Iran. Markets are now on edge, awaiting Tehran's response amid concerns about wider regional instability and higher oil prices. On the domestic front, data showed that Japanese manufacturing activity returned to growth in June for the first time since May...
Asia-Pacific markets plunged on Monday after a US strike on three nuclear sites in Iran lifted oil prices and investors worried about an escalation in the Middle East conflict. Oil prices have surged in recent weeks amid rising tensions in the Middle East. Brent crude was trading at $78.66 a barrel, after jumping 2.14%, as of 9:43 a.m. Singapore time, while West Texas Intermediate crude was up 2.23% at $75.47. Japan's benchmark Nikkei 225 fell 0.56%, while the broader Topix index dropped 0.49%. In South Korea, the Kospi index fell 1.05%, while the small-cap Kosdaq index dropped...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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