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...
Wall Street's main indexes fell on Friday after Israel's deadly strike on Iranian nuclear facilities inflamed tensions in the oil-rich Middle East and battered risk sentiment across global markets. Israel has warned that the widescale strikes were the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran has promised a harsh response. Oil prices surged nearly 7% on fears the conflict could disrupt crude supply from the Middle East. U.S. energy stocks rose in tandem, with Exxon (NYSE:XOM) up 1.7%. Airline stocks dropped as fuel costs could surge if supply...
US stocks fell on Friday, with the S&P 500 and Nasdaq down 0.7% and the Dow Jones down nearly 500 points, amid a flight to safe havens driven by rising tensions in the Middle East. Israel launched a preemptive strike on Iran, targeting a nuclear facility and vowing to continue operations until the threat is neutralized. Airline stocks fell sharply, with American Airlines down 4.8%, Delta Air Lines down 4.5% and United Airlines down 5%. Megacap technology stocks also fell, including Nvidia (-1.4%), Microsoft (-0.2%), Apple (-0.5%), Amazon (-1%), Meta (-0.4%), Alphabet (-1.1%), and Tesla...
The Hang Seng fell 143 points, or 0.6%, to close at 23,892 on Friday, extending losses for a second session as Wall Street futures slumped and global markets turned red following Israel's military strikes on Iran the previous day. Rising tensions in the Middle East added a new layer of uncertainty to already fragile global markets, which are still under pressure from President Trump's aggressive and unpredictable trade policies. The index moved away from a nearly three-month high, as most sectors declined. The technology index fell 1.7%, led by sharp declines in Horizon Robotics (-4.3%),...
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.92%. The best performers of the session on the Nikkei 225 were Nexon Co Ltd (TYO:3659), which rose 8.37% or 220.00 points to trade at 2,850.00 at the close. Meanwhile, Bandai Namco Holdings Inc (TYO:7832) added 4.34% or 201.00 points to end at 4,829.00 and Aeon Co., Ltd. (TYO:8267) was up 3.85% or 165.00 points to 4,449.00 in late trade. The worst performers of the session were LY Corp (TYO:4689), which...
(Hong Kong) The escalating tensions in the Middle East have impacted the financial markets, with the Hang Seng Index opening lower by 75 points or 0.31%, standing at 23,959 points. Concurrently, the H-share index dropped by 41 points or 0.47%, reaching 8,688 points, while the technology index also experienced a decline of 50 points or 0.95%, settling at 5,280 points. In the tech sector, there was a general softening trend, with Tencent showing a minor increase of 0.1%, while Alibaba witnessed a decrease of 1.5%. Similarly, Meituan fell by 1.2%, Xiaomi Group dropped by 0.5%, and Kuaishou...
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.
In...