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 declined for a second day to near its lowest level since early June, with the focus turning to how much OPEC+ will increase output quotas this weekend. Brent crude traded below $67 a barrel, while West Texas Intermediate was near $65. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase at a meeting on Sunday, according to a Bloomberg survey, as leader Saudi Arabia continues its bid to reclaim market share. A 411,000 barrel-a-day quota hike is like this weekend and there will...
Gold edges higher in the early Asian session, underpinned by Fed rate-cut hopes. "The metal could find support amid subdued yields and dovish expectations," Kudotrade's Konstantinos Chrysikos says in an email. "Markets expect three rate cuts in the U.S. during the second half of the year, which could support non-yielding assets like gold," the head of Customer Relationship Management says. Worries over the Fed's independence might also drive investors toward the precious metal, Chrysikos adds. Spot gold is 0.2% higher at $3,310.66/oz. Source : Dow Jones
Oil held a decline to trade near the lowest level since early June with the focus on how much OPEC+ will increase production at a meeting on Sunday. West Texas Intermediate was near $65 a barrel after shedding 0.6% on Monday, while Brent for September closed under $67. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase as leader Saudi Arabia continues its bid to reclaim market share, according to a Bloomberg survey. Oil lost 9% last quarter in a volatile three months that saw prices drop...
EUR/USD rose to a fresh yearly high of 1.1780 on Monday (01/07) as the Greenback continued to be hit by the prospect of a fiscal budget agreement in the United States (US) and expectations that the Trump administration continues to make progress on a trade deal with major trading partners. At the time of writing, the currency pair was trading at 1.1776, up 0.51%. The sentiment remains positive as depicted by US equity indices posting a solid second quarter in 2025, trading at an all-time high. Therefore, the US Dollar (USD) is nearing a multi-year low amid expectations that the fiscal...
Oil prices edged lower on Monday as investors weighed easing Middle East risks and the possibility of an OPEC+ output increase in August. Both Brent and U.S. crude benchmarks posted their biggest weekly declines since March 2023 last week but rose for a second straight month, rising about 6% and 7%, respectively. Brent futures settled down 16 cents, or 0.2%, at $67.61 a barrel and expired on Monday. The more active September contract expired at $66.74. U.S. West Texas Intermediate crude settled down 41 cents, or 0.6%, at $65.11 a barrel. The 12-day war that began with Israel targeting...
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...