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 in early Asian trade on the prospect of fresh supply disruptions, ANZ research analysts said in a commentary. New US sanctions on Russia's oil industry prompted many buyers to look for alternatives, analysts said. However, the recent gains may be short-lived as Trump has vowed to end the Russia-Ukraine war soon, analysts added. In the short term, the market is also eyeing cold weather in the Permian Basin, a major shale oil producer in Texas, they said. Front-month WTI crude rose 0.5% to $78.35/bbl; front-month Brent crude rose 0.5% to $81.17/bbl. Source: Dow Jones Newswires
Gold edged down after three days of gains mid-afternoon Friday as the dollar rebounded from two days of losses that followed on soft U.S. economic data that spurred hopes for faster interest-rate cuts from the Federal Reserve. Gold for February delivery was last seen down US$0.90 to US$2,750.00 per ounce. U.S. economic data this week showed core inflation and retail sales were softer than expected in December, reviving hopes the Federal Reserve will speed rate cuts, though the central bank is widely expected to leave rates unchanged at the Jan.29 end to the next meeting of its policy...
WTI crude oil futures declined 1% to settle at $77.89 per barrel and Brent crude oil futures fell 0.6% to settle at $80.79 per barrel on Friday, driven by expectations of a ceasefire agreement in Gaza, which could reduce attacks on ships by Yemen's Houthi militia. Despite this drop, oil prices marked a fourth consecutive week of gains, rising more than 1%, primarily fueled by concerns over new U.S. sanctions targeting Russian oil producers and tankers, raising fears of tighter global oil supplies. Analysts highlighted that these concerns, coupled with expectations of U.S. interest rate...
WTI crude oil futures fell to $78 per barrel and Brent crude oil futures fell below $81 per barrel on Friday but remained on track for a fourth consecutive week of gains, driven by concerns over US sanctions on Russian energy. Last week, the Biden administration imposed broader sanctions targeting Russian oil producers and tankers, raising fears of supply disruptions. Investors are also watching for potential impacts from President-elect Donald Trump's return to office, as his Treasury pick has signaled tougher sanctions on Russia. Meanwhile, expectations of a ceasefire deal in Gaza, which...
The US dollar edged higher Friday, but was on course for a weekly loss after core inflation eased, while sterling retreated following the release of weak retail sales data. At 04:30 ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 108.930, but was set for a drop of about 0.5% in the week, which would snap a six-week winning streak. The dollar has retreated this week after cooler than expected inflation data raised the possibility of easier monetary policy this year, even after policymakers at the Federal Reserve...
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...