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 nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further U.S. sanctions on Russia that may affect global supplies, but a ramp-up in Saudi output and ongoing tariff uncertainty limited gains. Brent crude futures rose 15 cents to $70.51 a barrel by 0400 GMT, extending a 2.51% gain on Friday. U.S. West Texas Intermediate crude futures climbed to $68.59, up 14 cents, after settling 2.82% higher in the previous session. U.S. President Donald Trump said on Sunday that he will send Patriot air defence missiles to Ukraine. He is due to make a...
The US dollar index held firm around 97.8 on Monday, maintaining its recent gains as investors assessed the latest developments in global trade. President Trump announced a 30% tariff on imports from the EU and Mexico, set to take effect on August 1, further escalating trade tensions. In response, EU and Mexican officials signaled their willingness to continue negotiations with Washington this month in hopes of securing a lower rate. Meanwhile, the EU is reportedly intensifying talks with other countries hit by US tariffs, including Canada and Japan, as it considers possible coordinated...
Gold prices rose to around $3,360 per ounce on Monday, marking a fourth consecutive session of gains, as President Donald Trump's announcement of new tariffs drove investors toward the safety of bullion. In letters to the EU and Mexico, Trump set a 30% tariff for both and referred to their respective trade deficits with the US as a "major threat" to national security. This follows a broader set of tariff hikes unveiled last week, targeting more than 20 countries—including Japan, South Korea, Canada, and Brazil—as well as a 50% duty on copper imports. The new measures are set to take effect...
The Japanese yen appreciated toward 147 per dollar on Monday, recouping some losses from last week as investors responded to renewed global trade concerns. The move followed President Donald Trump's announcement of a 30% tariff on imports from the European Union and Mexico, set to take effect on August 1. In response, EU and Mexican leaders signaled their intent to continue negotiations with the Trump administration this month in hopes of securing a lower tariff rate. The EU is also reportedly expanding talks with other nations impacted by the tariffs, including Canada and Japan,...
The Australian dollar weakened to around $0.656 on Monday, reversing gains from the previous week, as renewed tariff threats from US President Donald Trump stirred fears of potential global trade war. Trump announced a 30% tariff on imports from the European Union and Mexico starting August 1, while also signaling the possibility of further duties on other countries and urging trading partners to return to the negotiating table. In a related move, Trump proposed a steep 200% tariff on Australian pharmaceuticals, sparking concern among Australian industry leaders and government officials, as...
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...