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...
The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3770 against the US Dollar (USD) during European trading hours on Friday. The GBP/USD pair clings to gains as the US Dollar struggles to gain ground due to a sharp deterioration in its safe-haven demand, following tensions between United States (US) President Donald Trump and Federal Reserve (Fed) Chair Jerome Powell over the monetary policy status. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, struggles to hold the fresh three-and-a-half-year...
Oil prices headed for their steepest weekly decline since March 2023 on Friday, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures rose 36 cents, or 0.53%, to $68.09 a barrel by 0637 GMT while U.S. West Texas Intermediate crude gained 33 cents, or 0.51%, to $65.57. That put both contracts on course for a weekly fall of about 12%. The benchmarks are now back at the levels they were at before Israel began the conflict by firing missiles at Iranian military and nuclear targets on June 13. This week began with...
Gold declined toward $3,280 per ounce on Friday, hitting its lowest level in four weeks, as fading geopolitical risks and easing fears of a prolonged trade conflict dented safe-haven demand. The US and China finalized the details of their London trade deal, which will implement the Geneva consensus. Under the agreement, China will approve export applications for controlled goods, while the US will lift various trade restrictions. This followed the White House downplaying the urgency of upcoming tariff deadlines, suggesting they could be extended and further easing trade...
Silver (XAG/USD) prices are trading lower after posting gains in the previous two sessions, trading around $36.50 per troy ounce during Asian hours on Friday (6/27). The decline in precious metals, including Silver, could be restrained by renewed concerns over the independence of the US Federal Reserve (Fed). US President Donald Trump called Federal Reserve Chairman Jerome Powell "terrible" in The Hague on the sidelines of a NATO summit and said he has several potential successors in mind. "I know of three or four people I'm going to pick." Trump could undermine Powell's authority by...
Oil prices were headed for their biggest weekly drop since March 2023 on Friday, as the absence of significant supply disruptions from the Iran-Israel conflict caused the risk premium to evaporate. Brent crude futures were up 35 cents, or 0.52%, at $68.08 a barrel by 0429 GMT while U.S. West Texas Intermediate crude was up 40 cents, or 0.61%, at $65.64. That left both contracts on track for weekly declines of about 12%. The benchmarks are now back to levels before Israel started the conflict by firing missiles at Iranian military and nuclear targets on June 13. The week began with prices...
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...