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 were steady on Wednesday (July 16), as signs of rising Chinese crude consumption were offset by investor caution about the broader economic impact of US tariffs. Prices have fluctuated within a tight range, as signs of steady demand from increased travel during the Northern Hemisphere summer season have competed with concerns that US tariffs on trading partners will slow economic growth and fuel consumption. Brent crude futures fell 17 cents, or 0.3%, to $68.54 a barrel at 08:44 GMT. US West Texas Intermediate crude futures fell 11 cents, or 0.2%, to $66.41. US President Donald...
The pound (GBP) attracted buying interest against other major currencies on Wednesday (July 16th) following the release of higher-than-expected UK Consumer Price Index (CPI) data for June. The Office for National Statistics (ONS) reported that headline inflation rose to 3.6% year-on-year, the highest level since January 2024. Economists had expected a steady 3.4% growth. Core CPI – which excludes volatile items such as food, energy, alcohol, and tobacco – rose 3.7%, faster than expectations and the previous figure of 3.5%. On a monthly basis, headline CPI grew by 0.3%, also faster than...
The U.S. dollar drew support from elevated Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices. Rising prices on goods as varied as coffee, audio equipment and home furnishings pulled the inflation rate higher in June, with substantial increases in prices of heavily imported items. That shored up the dollar and pushed bond yields higher on Wednesday as investors pared back expectations of Federal Reserve interest rate cuts this year. Against the...
Oil prices rose on Wednesday, boosted by expectations of firm summer demand in the world's two largest consumers, the United States and China, though gains were capped by analysts' caution about the wider economy. Prices have seesawed in a tight range as signs of steady demand from an increase in travel during the Northern Hemisphere summer have competed with concerns that U.S. tariffs on trading partners will slow economic growth and fuel consumption. Brent crude futures rose 13 cents, or 0.2%, to $68.84 a barrel by 0411 GMT. U.S. West Texas Intermediate crude futures were up 25 cents, or...
Gold prices rose on Wednesday as investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump's trade policy. Spot gold was up 0.4% at $3,334.12 per ounce, as of 0401 GMT. U.S. gold futures edged 0.1% higher to $3,340.90. "Gold at this moment is consolidating with a slight downward bias, especially with a stronger dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. "However, many countries are still negotiating with the U.S. on the tariffs. There are still a lot of uncertainties in the...
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...