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 slipped 2% on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine. Brent crude futures were down $1.26, or 1.98%, at $62.49 a barrel, while U.S. West Texas Intermediate crude was at $58.88, down $1.20, or 2%. Iraq restored production at Lukoil's West Qurna 2 oilfield, one of the world's largest, after a leak on an export pipeline slashed its output, two Iraqi energy officials told Reuters on Monday. Prices had marginally pared losses earlier after sources told...
Oil prices fell on Monday as investors monitored ongoing talks to end the war in Ukraine and ahead of an expected U.S. Federal Reserve interest rate cut this week. Brent crude futures fell by 56 cents, or 0.9%, to $63.18 a barrel by 1348 GMT, while U.S. West Texas Intermediate crude was at $59.51, down 57 cents, or 1%. Prices marginally pared losses after sources on Monday told Reuters that Iraq shut down the entire oil production at Lukoil's West Qurna 2 field of around 460,000 barrels per day due to a leak on an export pipeline. Both contracts closed Friday's trading session at their...
Gold (XAU/USD) kicks off the week on a quiet note, with traders reluctant to take fresh positions ahead of the Federal Reserve's (Fed) interest rate decision on Wednesday. At the time of writing, XAU/USD is trading around $4,190, easing after rising to an intraday high of $4,219. Attention remains squarely on the Fed's monetary policy meeting, with markets gearing up for another interest rate cut at the final policy decision of 2025, which would bring the Federal Funds Rate down to the 3.50%-3.75% range. However, the latest Personal Consumption Expenditures (PCE) data and mixed labour...
Silver held near its all-time high at the start of a week in which the Federal Reserve is widely expected to cut interest rates. Gold edged higher. The white metal stabilized after falling as much as 1.4% in Asian trading on Monday. It is less than a dollar shy of the record high of $59.3336 per ounce reached in the last session. Last week was the best since July for inflows into silver-backed exchange-traded funds (ETFs), with nearly 590 tonnes added, signaling investor confidence that the rally has more to go. For most of last week, silver's 14-day relative strength index (RSI)...
Oil prices held near two-week highs on Monday (December 8th) as investors anticipated a possible US Federal Reserve interest rate cut this week to boost economic growth and energy demand, while monitoring geopolitical risks threatening Russian and Venezuelan supplies. Brent crude futures fell 25 cents, or 0.4%, to $63.50 a barrel at 09:22 GMT, while US West Texas Intermediate crude was at $59.83, also down 25 cents, or 0.4%. Both contracts closed Friday's trading session at their highest levels since November 18th. "The market is in wait-and-see mode" ahead of further news on US interest...
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...