Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
President Donald Trump's administration started detailing its plans on Monday for which services it will pause if the federal government shuts down this week, with the U.S. health department slated to furlough 41% of its workforce. The impending shutdown will be different than past government closures because the administration has threatened mass firings of federal staff, adding that it could use the lapse in funding to downsize the federal government. The Office of Personnel Management in a Monday memo said while training and onboarding of new federal employees is not allowed under the...
President Donald Trump said on Monday he would impose a 100% tariff on all films produced overseas that are then sent into the U.S., repeating a threat made in May that would upend Hollywood's global business model. The step signals Trump's willingness to extend protectionist trade policies into cultural industries, raising uncertainty for studios that depend heavily on cross-border co-productions and international box-office revenue. "Our movie making business has been stolen from the United States of America, by other Countries, just like stealing candy from a baby," Trump said in a post...
The U.S. on Monday cracked down on companies in China and other countries that use subsidiaries or other foreign affiliates to get around curbs on chipmaking equipment and other goods and technology. The Commerce Department issued a new rule expanding its restricted export list, known as the Entity List, to automatically include subsidiaries owned 50 percent or more by a company on the list, according to a posting in the U.S. Federal Register. The action greatly increases the number of companies that require licenses to receive American goods and services. The rule is likely to disrupt...
With US government funding set to expire at midnight on Tuesday, Republicans and Democrats in Congress show no signs of agreeing to a temporary budget fix that would avert a government shutdown. President Donald Trump will meet with congressional leaders at the White House on Monday in a last-ditch effort to end the impasse. However, Democrats have signaled they are unwilling to simply agree to the Republican-backed short-term funding plan without some adjustments. If Congress fails to act, thousands of federal government employees could be furloughed, from NASA to national parks, and...
US President Donald Trump on Thursday announced sweeping new import tariffs, including a 100% duty on brand-name drugs and a 25% levy on heavy-duty trucks, sparking renewed trade uncertainty after a period of relative calm. This latest attack, which Trump says is aimed at protecting the US manufacturing industry and national security, follows broad tariffs of up to 50% on trading partners and other targeted levies on imported products such as steel. This is the latest turmoil for global businesses already struggling with complex supply chains, soaring costs, and consumer uncertainty caused...
Russia's export rules spark diesel market jitters"Boosting prices were initial reports that Russia intends to ban some companies from exporting diesel. Following repeated attacks on Russian refineries, concerns have grown that domestic supply might become strained. Reports indicate that processing in Russia has dropped by approximately 7% since August. However, Deputy Prime Minister Novak later clarified that the export ban would only apply to traders and resellers." "This significantly reduces the impact, as it is estimated that only a one digit percentage share of Russia's exports will be...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to 2.7% in August from 2.6% in July, the US Bureau of Economic Analysis reported on Friday. This print came in line with the market expectation. The United States (US) Bureau of Economic Analysis (BEA) will publish the Personal Consumption Expenditures (PCE) Price Index data for August on Friday at 12:30 GMT. The PCE index is closely watched by market participants because it is the Federal Reserve's (Fed) preferred measure of inflation and could...
U.S. President Donald Trump on Thursday unveiled sweeping new import tariffs, including 100% duties on branded drugs and 25% levies on heavy-duty trucks, set to come into force next week. The latest salvo, which Trump said was to protect the U.S. manufacturing industry and national security, follows wide-ranging duties on trading partners of up to 50% and other targeted levies on imported products such as steel. It's the latest upheaval for global businesses already struggling with snarled supply chains, soaring costs and consumer uncertainty caused by Trump's trade war. The barrage has...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....