Oil prices edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ production increases, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war. Brent crude futures rose 43 cents, or 0.7%, to settle at $66.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.8%, to settle at $62.79. In the U.S., the number of people filing for unemployment benefits rose slightly last week, indicating a resilient labor market despite economic turbulence caused by tariffs on imported goods. Companies raised prices and cut...
The US dollar (USD) weakened on Thursday (4/24) as a mix of mixed economic data, dovish Federal Reserve (Fed) signals, and unclear US-China tariff messages rattled market sentiment. After testing highs near 100.00 earlier in the day, the US Dollar Index (DXY) reversed course and was last seen hovering around 99.41, down 0.37%. Investors recalibrated expectations after US President Donald Trump and Treasury Secretary Scott Bessent rejected claims of unilateral tariff cuts on Chinese goods. While Trump hinted at potential tariff relief if talks resume, Chinese officials reiterated that no...
Gold extended its recent gains above $3,350 per ounce on Friday, on track for its third weekly advance, as skepticism over a US-China trade deal continued to support the metal's safety appeal. On Thursday, President Trump stated that trade talks with China are in progress, countering Chinese claims that no discussions have taken place to ease the ongoing dispute. Meanwhile, US Treasury Secretary Bessent said the steep tariffs between the two countries must be reduced before negotiations can move forward, but emphasized that Trump would not unilaterally lower tariffs on Chinese imports....