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...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity. It was the softest contraction in the sequence, with output rising the most in three months (51.0 vs 50.7 in May), supported by a trade deal with the US and Beijing's ongoing efforts to stimulate domestic demand and bolster the sluggish economy. Additionally, new orders grew for the first time in three months (50.2 vs 49.8), while foreign sales fell the least in three months (47.7 vs 47.5). A...
Iran's foreign minister Abbas Araqchi indicated on Friday that Tehran may reject any request by the head of UN nuclear watchdog the IAEA for visits to Iranian nuclear sites. "(IAEA head Rafael Grossi's) insistence on visiting the bombed sites under the pretext of safeguards is meaningless and possibly even malign in intent," Araqchi wrote in a post on X. "Iran reserves the right to take any steps in defense of its interests, its people, and its sovereignty." The IAEA earlier said in a statement: "(Grossi) emphasised the need for IAEA inspectors to continue their verification activities in...
U.S. Treasury Secretary Scott Bessent said on Friday the Trump administration's various trade deals with other countries could be done by the Sept. 1 Labor Day holiday, citing talks with 18 main U.S. trading partners and new revisions to a deal with China aimed at expediting rare earths shipments. After a week where tariffs took a back seat to the U.S. strike on Iran's nuclear facilities and the massive tax and spending bill in Congress, the Trump administration's trade negotiations have picked up. The United States sent a new proposal to the European Union on Thursday and India sent a...
The US Personal Consumption Expenditures (PCE) price index rose by 0.1% month-over-month in May 2025, the same as in April and in line with expectations. Prices for goods were up 0.1%, the same as in April and prices for services rose 0.2%, above 0.1% in the previous month. The core PCE index, which excludes volatile food and energy prices, rose 0.2%, above 0.1% in the previous two months and forecasts of 0.1%. Source: Trading Economics
A White House official said late Thursday that the United States has reached an understanding with China on how to speed up rare earth shipments to the U.S., according to the Wall Street Journal. "The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said. The understanding was "about how we can implement the acceleration of rare earth shipments to the U.S. again," Bloomberg quoted U.S. Commerce Secretary Howard Lutnick as saying, "They're going to ship us rare earths" and "we're going to lift our...
Prime Minister Benjamin Netanyahu said on Thursday the outcome of Israel's war with Iran presented opportunities for peace that his country should not waste. In a statement, Netanyahu said: "This victory presents an opportunity for a dramatic widening of peace agreements. We are working on this with enthusiasm. "Alongside the freeing of hostages and defeat of Hamas, there is a window of opportunity that must not be missed. We cannot waste even a single day." Earlier in the day, Israel Hayom newspaper, quoting an unnamed source, said Netanyahu and U.S. President Donald Trump agreed in a...
President Donald Trump's tariffs will likely increase inflation and could also drive up unemployment, Federal Reserve Governor Michael Barr said on Thursday in remarks that signaled that he - like most of his Fed colleagues - wants to wait for more clarity before making any interest-rate cuts. "Low-income households can ill afford increases in prices, and that's why it is so important that we bring inflation back down to our target," Barr said at a community development event at the Cleveland Fed. The Fed targets 2% inflation, and while the latest read by the Fed's targeted measure was...
Pending home sales in the United States rose by 1.8% from the previous month in April of 2025, trimming the 6.3% drop in the previous month and contrasting with market expectations of a 0.3% drop. The rebound was broadly distributed through the whole country, led by the West (6%) and the Northeast (2.1%), while growth was less pronounced in the South (1%) and the Midwest (0.3%). "Consistent job gains and rising wages are modestly helping the housing market," said NAR Chief Economist Lawrence Yun. "Hourly wages are increasing faster than home prices. However, mortgage rate fluctuations are...
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....