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 Trump's deadline for Russia to strike a peace deal with Ukraine passed without stricter US sanctions imposed on Moscow. This likely contributed to the recent weakness in crude oil prices, with Brent trading at its lowest levels since early June, ING's commodity experts Ewa Manthey and Warren Patterson note. Speculators are bearish towards the oil market "The market is focused on Trump's meeting with President Putin on Friday – and whether any progress towards a peace deal can be made. But with Russia demanding that Ukraine cede occupied territory to end the war, it's difficult to...
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday. Last week, Trump imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the U.S. to 50% - among the highest on any American trading partner. The Indian government had taken into account the 25% tariff that Trump initially imposed on goods while providing Monday's estimate, Pankaj Chaudhary, India's junior finance...
From McDonald's and Coca-Cola to Amazon and Apple, U.S.-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi's supporters stoke anti-American sentiment to protest against U.S. tariffs. India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta's WhatsApp and Domino's has more...
U.S. President Donald Trump on Monday said he hopes China will "quickly quadruple" its soybean orders from American farmers, framing the move as a way to cut Beijing's trade deficit with Washington. In a post on his Truth Social platform, Trump said, "China is worried about its shortage of soybeans. Our great farmers produce the most robust soybeans. I hope China will quickly quadruple its soybean orders." "This is also a way of substantially reducing China's Trade Deficit with the USA. Rapid service will be provided," he added. Soybeans are a key U.S. agricultural export to China and...
Whatever happens at September's Federal Reserve meeting will pale in comparison to a wholesale rethinking of the U.S. central bank's design, a possibility stirred by Donald Trump's latest appointment. The president nominated White House advisor Stephen Miran to temporarily fill Adriana Kugler's vacant Fed board seat, reheating a debate about whether the Fed structure, its independence, and even its central role in the monetary economy should now become live questions. That may sound like a giant leap in a discussion that has so far centered largely on how quickly the Fed should lower...
The US expects to largely complete negotiations with countries that have yet to secure a trade deal by the end of October, Nikkei Asia reported, citing an interview with Treasury Secretary Scott Bessent. The comments, made to Nikkei on Thursday, come after President Donald Trump's sweeping new tariffs took effect. Some key trading partners, including Canada, Mexico and Switzerland, are still seeking to secure more favorable terms with the US. Bessent also reaffirmed the importance of the Federal Reserve's independence but said the next central bank head should be...
The U.S. and Russia are aiming to reach a deal to halt the war in Ukraine that would lock in Moscow's occupation of territory seized during its military invasion, Bloomberg News reported on Friday. U.S. and Russian officials are working towards an agreement on territories for a planned summit meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin as early as next week, the report said, citing unnamed people familiar with the matter. A White House official said the Bloomberg story was speculation. A Kremlin spokesperson did not respond to a request for...
Russian President Vladimir Putin spoke to the leaders of China, India and three ex-Soviet states on Friday in a flurry of calls to brief them on his contacts with the United States about the war in Ukraine. Putin met U.S. President Donald Trump's envoy Steve Witkoff in Moscow on Wednesday, after which the Kremlin said a summit between Putin and Trump could take place as early as next week. No venue, date or agenda have been announced. Trump, pressing for an end to the 3-1/2-year war, had set a deadline that expires on Friday for Russia to agree to peace or face new sanctions on Moscow and...
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....