Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Oil prices dipped slightly on Monday, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while U.S. tariffs ensure demand concerns remain. Brent crude futures dropped 38 cents, or 0.55%, to $68.90 a barrel by 0925 GMT after settling 0.35% down on Friday. U.S. West Texas Intermediate crude declined 30 cents, or 0.45%, to $67.04 after a 0.3% decline in the previous session. The European Union on Friday approved the 18th package of sanctions against Russia over the war in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products...
ECB and PMIs in focus this week,The focus in Europe will be on Thursday's European Central Bank meeting. We doubt ECB President Christine Lagarde will shake things up too much ahead of the central bank's summer break, although there may be some continued concerns over recent euro strength and particularly the direction of tariffs. The mood music on EU tariffs seems poor at the moment, and the kink in the EUR/USD FX options implied volatility curve in the two-week tenor suggests investors are again wary of the new 1 August tariff deadline." "In addition to the ECB this week, we have the...
Silver prices climbed toward $38.5 per ounce on Monday, building on recent gains as the US dollar and Treasury yields retreated amid growing expectations for a Federal Reserve rate cut. Fed Governor Christopher Waller reiterated his support for easing in July, pointing to a weakening labor market and declining inflation risks. He also downplayed the inflationary impact of tariffs, calling it temporary, and said there are no signs of rising inflation expectations, giving the Fed room to act. Additional support for silver came from China, where the industry ministry pledged to stabilize...
Gold prices climbed on Monday, supported by a weaker dollar as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the Federal Reserve's policy meeting scheduled for next week. Spot gold was up 0.6% at $3,368.39 per ounce, as of 0534 GMT. U.S. gold futures rose 0.5% to $3,376. "Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large," KCM Trade Chief Market Analyst Tim Waterer said. "The closer we move towards the key August 1 deadline without...
Oil prices were little changed on Monday as traders assess the impact of new European sanctions on Russian oil supplies while they also worry about tariffs possibly weakening fuel demand as Middle East producers are raising output. Brent crude futures climbed 6 cents to $69.34 a barrel by 0344 GMT after settling 0.35% lower on Friday. U.S. West Texas Intermediate crude was at $67.51 a barrel, up 17 cents, following a 0.30% decline in the previous session. The European Union approved on Friday the 18th package of sanctions against Russia over the conflict in Ukraine, which also targeted...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...