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 edged higher on Thursday, the first trading day for 2025, as investors returning from holidays cautiously eyed China's economy and fuel demand following President Xi Jinping's pledge to boost growth. Brent crude futures were up 16 cents, or 0.21%, at $74.80 a barrel by 0829 GMT after closing up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures were up 16 cents, or 0.22%, at $71.88 a barrel after closing up 73 cents in the previous session. Xi said Tuesday in his New Year's speech that the country will implement more proactive policies...
Gold (XAU/USD) prices rose for the third straight session on Thursday, after rising more than 27% in 2024, marking its best performance since 2010. The upward momentum was driven by US monetary easing, persistent geopolitical tensions, and record central bank buying. However, non-interest-bearing gold may face some headwinds as the Federal Reserve (Fed) is expected to take a more cautious approach to further interest rate cuts in 2025, signaling a shift in its aggressive monetary policy stance. The shift is driven by uncertainty surrounding potential policy changes under the Trump...
EUR/USD traded vulnerable and held near more than a month-low around 1.0350 on the first trading day of the year. The major currency pair is in a tough spot as the US Dollar (USD) holds near more than two-year highs, with the Dollar Index (DXY) trading around 108.50 on optimism that the Federal Reserve (Fed) will cut interest rates lower than previously anticipated this year. Source: FXStreet
Oil steadied in the first session of the new year as an industry report signaled US crude stockpiles continued to shrink. Brent traded below $75 a barrel after giving up an earlier gain, and West Texas Intermediate was near $72. A report from the American Petroleum Institute showed inventories fell by 1.4 million barrels last week, which would be a sixth straight draw if confirmed by government data later Thursday. Oil has been stuck in a narrow range since mid-October, with Brent posting a modest annual decline and WTI ending 2024 little changed. Investors...
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Brent crude futures rose 17 cents, or 0.06%, to $74.82 a barrel by 0547 GMT after settling up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures gained 19 cents, or 0.26%, to $71.91 a barrel after closing 73 cents higher in the previous session. China's factory activity grew in December, according to the private-sector...
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...