Oil steadied after jumping on Monday as President Donald Trump suggested that the US may work to curtail crude shipments from Russia, the world's third-largest producer and a major exporter.
West Texas Intermediate traded above $71 a barrel after gaining 3.1% on Monday, the most since mid-January, with Brent crude closing below $75. Trump threatened so-called "secondary tariffs" on buyers of Russian oil, potentially hurting flows, as he pushes for an end to the war in Ukraine.
The US is also set to implement levies and other measures on Wednesday, in what Trump has dubbed "Liberation Day." Details, such as the level of tariffs, duration, and any exemptions, are still being discussed in the White House.
WTI for May delivery was little changed at $71.43 a barrel at 7:25 a.m. in Singapore.
Brent for June settlement closed 2.8% higher at $74.77 a barrel.
Source: Bloomberg
Oil prices are headed for their biggest weekly gain since late October, driven by escalating geopolitical tensions. West Texas Intermediate (WTI) prices are stable above $58 per barrel, posting a gain...
Oil prices edged lower on Wednesday (December 25th), and are on track for their steepest annual decline since 2020 as investors weigh US economic growth and assess the risk of supply disruptions from ...
Oil prices settled higher on Tuesday as investors assessed stronger-than-expected U.S. economic growth and the risk of disruptions to oil supply from Venezuela and Russia. Brent crude futures settled...
Oil prices continued their five-day rally on Tuesday (December 23), as traders weighed rising geopolitical tensions and higher inventory data. West Texas Intermediate (WTI) traded around $58 per barre...
Oil prices closed higher on Tuesday (December 24th) as investors assessed stronger-than-expected US economic growth and the risk of oil supply disruptions from Venezuela and Russia. Brent crude futur...
Gold (XAU/USD) started the year on a bullish note and registered impressive gains in the first quarter. Following a consolidation phase during the summer months, the precious metal surged higher in the third quarter and reached an all-time record...
Gold reached an all-time high, continuing its extraordinary rally fueled by geopolitical tensions and a weakening US dollar. Spot gold prices rose 1.2% to above $4,530 per ounce, influenced by tensions in Venezuela and the US offensive against ISIS...
Gold reached an all-time high, continuing its extraordinary rally fueled by geopolitical tensions and a weakening US dollar. Spot gold prices rose 1.2% to above $4,530 per ounce, influenced by tensions in Venezuela and the US offensive against ISIS...
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized...
The US economy expanded in the third quarter at the fastest pace in two years, bolstered by resilient consumer and business spending and calmer...
The White House has ordered U.S. military forces to focus almost entirely on enforcing a Venezuelan oil "quarantine" for at least the next two...
As quarter-end and especially year-end approaches, financial markets often experience a phenomenon known as window dressing—where investment...