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...
Gold edged higher as investors assess the outlook for US interest rates following inflation data on Wednesday that supported the case for a cut next month. Bullion rose 0.5% to $2,648.21 an ounce as of 10:53 a.m. in London, with pressure on the metal easing as a rally in the dollar lost steam. The greenback, which strengthened in the wake of President-elect Donald Trump's win, has weakened this week against other currencies amid month-end flows. A stronger dollar makes the metal more expensive for many buyers. The case for a December rate cut was bolstered by...
Oil prices were flat on Thursday after a surprise jump in U.S. gasoline inventories and postponement of the OPEC+ meeting on output policy to Dec. 5 from Dec. 1. Brent crude futures edged up by 8 cents to $72.91 a barrel by 0955 GMT while U.S. West Texas Intermediate crude futures were up 7 cents at $68.79. Trading is expected to be light because of the U.S. Thanksgiving holiday on Thursday. OPEC+, comprising the Organization of the Petroleum Exporting Countries and allies including Russia, delayed its weekend meeting to avoid a conflict with another event, the producer group said. The...
Silver prices dropped below $30 an ounce on Thursday, hitting 11-week lows as demand for the metal's safe-haven appeal waned and the outlook for its industrial usage weakened. The recent ceasefire between Israel and Hezbollah, brokered by the US and France, alleviated geopolitical tensions, reducing silver's appeal as a risk-off asset. Additionally, expect that the US Federal Reserve may adopt a more cautious stance on interest rate cuts weighed on silver prices. Economic uncertainty in China, the world's largest silver consumer, and concerns over the potential negative impact of US...
Oil prices fell on Thursday after a surprise jump in US gasoline inventories, with investors focused on an OPEC+ meeting later this week to discuss oil output policy. Brent crude futures were down 14 cents, or 0.2%, at $72.69 a barrel by 0401 GMT, while U.S. West Texas Intermediate crude futures were also down 14 cents, or 0.2%, at $68.58 a barrel. Trading is expected to be thin as the U.S. Thanksgiving holiday begins on Thursday. Oil prices are likely to maintain their near-term bearish momentum as risks of supply disruptions fade in the Middle East and from higher-than-expected U.S....
Gold (XAU/USD) prices moved lower during the Asian session on Thursday (11/28), albeit found some support near the $2,620 area and has now trimmed some of its intraday losses. US macro data released on Wednesday showed a still-resilient US economy and stalled inflation progress, suggesting that the Federal Reserve (Fed) may be cautious about further interest rate cuts. This, in turn, triggered a fresh leg up in the US Treasury bond yields, which helped revive demand for the US Dollar (USD) and undermined the non-yielding yellow metal. Meanwhile, current market pricing suggests around a 70%...
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...