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 rose Thursday as a bumper draw in U.S. oil inventories turned attention onto fundamentals given signs that the Israel-Iran ceasefire was holding. At 08:15 ET (12:15 GMT), Brent oil futures rose 0.7% to $66.89 a barrel, while West Texas Intermediate crude futures rose 0.7% to $65.39 a barrel. Both benchmarks climbed nearly 1% on Wednesday, recovering from losses earlier in the week after data showed resilient U.S. demand. U.S. inventories log outsized draw for second week Government data, released on Wednesday, showed that U.S. oil inventories shrank 5.8 million barrels...
Oil prices edged higher on Thursday as investors remained cautious about the Iran-Israel ceasefire and shifted their attention to market fundamentals after a stockdraw in the United States. Brent crude futures rose 34 cents, or 0.5%, to $68.02 a barrel by 1055 GMT. U.S. West Texas Intermediate crude gained 35 cents, or 0.5%, to $65.27 a barrel. Both benchmarks climbed nearly 1% on Wednesday, recovering from losses earlier in the week after data showed resilient U.S. demand. Brent futures are trading below their close of $69.36 on June 12, the day before Israel started air strikes on...
Gold gained on Thursday as the U.S. dollar weakened due to concerns over the U.S. Federal Reserve's future independence while market focus shifted to upcoming U.S. inflation data for clues on the interest rate outlook. Spot gold rose 0.5% at $3,347.39 per ounce, as of 0851 GMT. U.S. gold futures firmed 0.5% to $3,360.90. The U.S. dollar fell, making dollar-denominated gold more attractive to holders of other currencies. U.S. President Donald Trump on Wednesday called Federal Reserve Chair Jerome Powell "terrible" and said he has three or four people in mind as contenders for the top Fed...
Gold price (XAU/USD) attracts some buyers for the second straight day on Thursday and retains its positive bias through the first half of the European session. The US Dollar (USD) selling remains unabated amid reports that US President Donald Trump was considering replacing Federal Reserve (Fed) Chair Jerome Powell, fueling concerns about the future independence of the central bank. Adding to this, bets that the Fed will resume its rate-cutting cycle as early as July drags the USD to over a three-year low and benefits the non-yielding yellow metal. Meanwhile, the latest optimism over a...
Oil prices inched higher on Thursday, extending gains from the previous day as a larger-than-expected draw in U.S. crude stocks signalled firm demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East. Brent crude futures rose 53 cents, or 0.8%, to $68.21 a barrel by 0630 GMT. U.S. West Texas Intermediate (WTI) crude gained 56 cents, or 0.9%, to $65.48 a barrel. Both benchmarks climbed nearly 1% on Wednesday, recovering from early-week losses after data showed resilient U.S. demand. "Some buyers are favouring solid demand indicated by...
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...