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...
US stocks were higher on Friday after Federal Reserve Governor Christopher Waller said that the FOMC could cut interest rates next week, while investors continued to assess geopolitical risks. The three main stock indices were firmly in the green, enough to erase losses from earlier in the week. Waller noted that he doesn't expect tariffs to have a significant inflationary effect and favored the evidence of disinflation for the argument against higher rates, supporting equities on all sectors. IN the meantime, President Trump stated that the decision to strike Iran would take up to two...
Hong Kong stocks ended the week in positive territory after three straight sessions of losses, as investors welcomed policy stability after both the People's Bank of China and the city's de facto central bank held key interest rates steady. The Hang Seng Index climbed 292.74 points, or 1.3%, to close Friday's session at 23,530.48, while the Hang Seng China Enterprises Index rose 116.13 points, or 1.4%, to 8,527.07. The Hong Kong Monetary Authority kept the base rate unchanged at 4.75%, mirroring the US Federal Reserve's decision to maintain its rate target at between 4.25% to 4.5%. As...
European stocks rebounded on Friday after three sessions of declines, as the U.S. pause in Middle East conflicts eased investor concerns. The pan-European STOXX 600 was up 0.4 percent at 537.98 points by 0708 GMT. The benchmark index was on track for a second weekly decline. The Israeli-Iranian air war entered its second week and European officials are trying to get Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news lifted the market mood and helped restore appetite for riskier assets...
The Nikkei 225 fell 0.22% to close at 38,403 on Friday, while the broader Topix index dropped 0.75% to 2,771, extending losses from the previous session as accelerating inflation raised concerns about tighter monetary policy. Japan's core inflation rate rose for a third straight month in May, hitting 3.7%—the highest level since January 2023—strengthening expectations that the Bank of Japan could continue its policy normalization efforts. Geopolitical tensions also weighed on sentiment, amid reports that U.S. President Donald Trump is considering a possible strike on Iran, adding to market...
Hong Kong shares rose 165 points, or 0.7%, to 23,399 in early trading on Friday, snapping a three-day losing streak amid broad sector gains. The market recovered from a three-week low after China's central bank kept its main lending rate unchanged, as expected, following a record cut in May aimed at boosting the economy and offsetting the impact of rising U.S. tariffs. Sentiment was further boosted by hopes that China's top legislature could recommend fresh stimulus measures during the early July session. However, for the week, the Hang Seng is on track for its first decline in three terms,...
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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