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 edged lower as investors tracked US-led efforts to end the war in Ukraine, while looking ahead to an OPEC+ gathering this weekend. West Texas Intermediate traded near $58 a barrel after rising more than 1% on Wednesday, while Brent settled just above $63. With US presidential envoy Steve Witkoff set to lead a delegation for talks in Russia next week, traders are weighing whether a deal can be struck and the implications for crude flows. OPEC and its allies, meanwhile, are set to meet Nov. 30. Eight of the group's members decided earlier this month to...
Oil prices edged higher on Wednesday (November 26th) ahead of the US Thanksgiving holiday, as US investors assessed the prospect of a supply glut and negotiations on a Russia-Ukraine peace deal. Brent crude futures rose 42 cents, or 0.67%, to $62.9 a barrel at 2:10 PM ET (7:10 PM GMT). US West Texas Intermediate crude futures rose 50 cents, or 0.86%, to $58.45. US crude inventories rose 2.8 million barrels to 426.9 million barrels last week due to a surge in imports, according to the Energy Information Administration (EIA) on Wednesday. Analysts had expected a rise of 55,000...
Gold rose to around $4,160 per ounce on Wednesday (November 26), nearing a two-week high as expectations of US policy easing weakened the dollar and reduced the opportunity cost of holding bullion. Futures and currency markets now place the odds of a 25 basis point (bps) Fed rate cut in December above 80%, and reports that Kevin Hassett is the leading candidate for Fed chair reinforced expectations of further policy easing. The mix of economic data has been uneven but consistent with policy easing, with initial jobless claims surprisingly lower and durable goods orders strengthening despite...
Oil prices stabilized on Wednesday (November 26th) after closing at a one-month low amid White House optimism about a peace deal between Russia and Ukraine, a development that could ease Moscow's oil restrictions in an already oversupplied market. West Texas Intermediate crude oil prices hovered around $58 a barrel, with volumes likely to decline ahead of Thursday's Thanksgiving holiday in the US. Steve Witkoff, US President Donald Trump's envoy, will lead a delegation for talks in Russia next week aimed at ending the nearly four-year war, a Kremlin official said. The Ukrainian leader's...
Silver (XAG/USD) rallied sharply on Wednesday, trading around $52.45 at the time of writing, up 2.00% on the day. The precious metal continued its bullish momentum, supported by the continued decline in US yields and investors shifting to non-interest-bearing assets, amid an increasingly accommodative outlook from the Federal Reserve (Fed). Market conditions remain driven by continued downward pressure on US interest rates, as Fed expectations turn more dovish. Recent comments from New York Fed President John Williams, emphasizing the need for further monetary adjustments, have reinforced...
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...