Oil prices fell sharply and the broader market plunged, with signs of progress in peace talks between Ukraine and Russia bolstering expectations that Moscow's supplies would remain available. West Texas Intermediate crude futures fell as much as 2.6% in New York as equities weakened, led by a decline in major technology stocks. The commodity fell earlier after ABC News reported that Kyiv had agreed to the terms of a revised peace deal aimed at ending Russia's nearly four-year war in the country. Ukrainian President Volodymyr Zelenskiy said negotiations on a peace plan with the US were...
Gold prices edged higher on Tuesday (November 25) as weaker-than-expected US retail sales data reinforced traders' expectations that the Federal Reserve will cut interest rates in December. Spot gold rose 0.3% to $4,150.09 an ounce at 12:16 p.m. EST (1716 GMT). Gold prices earlier in the day hit their highest level since November 14, and rose nearly 2% on Monday after several US central bank policymakers signaled support for a third rate cut this year at their December 9-10 meeting. US gold futures for December delivery rose 1.3% to $4,147 an ounce. "There were renewed expectations for a...
Oil fell as signs of progress in peace talks between Ukraine and Russia buoyed expectations that Moscow's supply will stay online. West Texas Intermediate futures fell 1.5% to settle near $58 a barrel, the lowest in a month, as talks to end the war in Ukraine show signs of progress. Crude had dropped sharply earlier in the session after ABC News reported Kyiv agreed to the terms of a revised peace deal aimed at ending Russia's nearly four-year war. Ukraine's President Volodymyr Zelenskiy said talks on a peace plan are continuing with the US. There are...