West Texas Intermediate (WTI) oil prices extended losses for the third straight session, trading near $77.20 a barrel during the Asian session on Monday (1/20). Oil traders are on alert ahead of President-elect Donald Trump's inauguration later in the day. US markets will remain closed on Monday in observance of Martin Luther King Jr. Day.
Concerns are mounting over Trump's proposed policies, including potential tariffs, tax cuts and deportations of undocumented immigrants. Analysts note that the future direction of US Federal Reserve (Fed) interest rates will largely depend on how broadly these policies are implemented.
Oil prices rose after Washington imposed two rounds of sanctions on Russia's energy sector over the ongoing Ukraine conflict. Over the past two weeks, the Biden administration has targeted more than 100 tankers and two Russian oil producers.
Attention is now turning to how the new Trump administration will respond to the Biden administration's sanctions. Traders are also seeking clarity on Trump's stance on trade tariffs and potential sanctions on Iran and Venezuela.
However, easing tensions in the Middle East could limit further gains in crude prices. On Sunday, Hamas and Israel exchanged hostages and prisoners, marking the first day of a ceasefire after 15 months of conflict.
Hamas released three female hostages in exchange for 90 Palestinians imprisoned in Israel, according to Bloomberg. In return for the three Israeli hostages, Hamas agreed to release 90 prisoners and detainees, all of whom are believed to be women and children, the Detainees Affairs Commission reported. (AL)
Source: FXstreet
Oil prices were steady on Tuesday (October 7th) as investors assessed a smaller-than-expected OPEC+ production increase in November amid expectations of oversupply. Brent crude futures fell 9 cents, ...
Oil steadied after a two-day advance after OPEC+ agreed on a modest supply quota increase, with traders also parsing signals from lower-than-expected Saudi prices. West Texas Intermediate traded...
WTI crude oil futures climbed 1.3% to $61.7 per barrel on Monday after OPEC+ agreed to a smaller-than-expected production increase, easing fears of a major supply surge. The group, which includes Saud...
Oil prices rose more than 1% on Monday after OPEC+ only raised November production by 137,000 bpd, a smaller increase than would have affected the market. At 08:08 GMT, Brent rose 1.2% to $65.33 per b...
OPEC+ is once again playing it cautiously. For the second consecutive month, the world's largest oil producer group only increased supply by 137,000 barrels per day—a figure significantly lower than m...
European stock markets edged mostly lower on Tuesday, as investors kept tabs on ongoing political turbulence in France and the United States that threatened to dampen enthusiasm around artificial intelligence dealmaking. The pan-European Stoxx 600...
Silver traded around $48.10 per ounce, retreating from the multi-year high touched on October 6th amid profit-taking as a firmer yield backdrop raised the metal's opportunity cost. The Treasury curve ticked up, making a non-yielding asset less...
Systematic hedge funds have lost money every day since October began, according to a Goldman Sachs client note. These speculators, whose algorithms ride market trends until they peter out and who use market signals rather than views on the...
Asian stocks surged to new highs, led by Japan's Nikkei 225, which surged more than 4% following the election of pro-stimulus lawmaker Sanae...
The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after...
Hamas officials were in Egypt on Monday (October 6th) ahead of talks with Israel that the US hopes will lead to an end to the war in Gaza and the...
Euro Area Stock MarketEuropean stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability...