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 on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply. Declines were limited by new U.S. sanctions on Russian oil exports to India and China. Brent futures fell $1.09, or 1.35%, to settle at $79.92 a barrel. U.S. West Texas Intermediate (WTI) crude finished at $77.50 a barrel, down $1.32, or 1.67%. On Monday, prices jumped 2% after the U.S. Treasury Department on Friday imposed sanctions on Gazprom Neft and Surgutneftegas as well as 183 vessels that transport oil as part of Russia's so-called shadow fleet...
Gold edged higher mid-afternoon on Tuesday as the dollar fell after a U.S. inflation measure rose less than expected last month, while a report said the Trump Administration plans to gradually introduce tariffs on U.S. imports. Gold for February delivery was last seen up US$4.70 to US$2,683.30 per ounce. The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) rose 0.2% in December from the prior month, under expectations for a monthly rise of 0.3%, according to FactSet. The data comes ahead of Wednesday's release of the U.S. December Consumer Price Index, which is...
Gold prices rose on Tuesday, helped by a softer U.S. dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year. Spot gold rose 0.3% to $2,669.09 per ounce as of 0932 GMT. U.S. gold futures gained 0.2% to $2,683.20. "This news led to a slight decline in U.S. Treasury yields and a weakening of the dollar." The dollar index fell 0.4% from a more than two-year high hit in the last session as traders scaled back U.S. rate cut bets for 2025 after a strong jobs report. A...
The US dollar fell Tuesday amid uncertainty over Trump's tariffs policy, but remained near two-year highs ahead of the release of the first of the week's key inflation data. At 04:15 ET (09:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 109.325, after climbing to a 26-month high on Monday. The dollar slipped from its highs Tuesday following a Bloomberg report that suggested the Trump administration could take a gradual approach to tariffs. The Federal Reserve cut the number of rate cuts projected for 2025 to two at its...
WTI crude fell to around $78.1 a barrel on Tuesday after a three-day rally. On Monday, crude hit a five-month high as tighter U.S. sanctions on Russia's energy industry threatened global supplies. The restrictions have targeted major producers and hundreds of ships and tankers, forcing major buyers such as India and China to look for alternative sources. Early signs of disruption are already visible, with a senior Indian official saying sanctioned ships would be barred from unloading, and China securing oil supplies from the UAE and Oman. In a related move, six European countries asked the...
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...