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 were little changed on Wednesday (November 5) as investors digested weaker economic data from major oil-importing countries and US inventories indicating stronger fuel demand, while a stronger US dollar weighed on prices. Brent crude futures edged up 9 cents, or 0.14%, to $64.53 a barrel at 09:00 GMT, after hitting a near two-week low in the previous session. US West Texas Intermediate crude also rose 9 cents, or 0.15%, to $60.65. The weaker economic data coupled with a rally in the US dollar prevented oil from making significant gains, while prices found support from refined...
Gold prices rise in early trading as investors await U.S. private payroll data for cues on the Federal Reserve's next policy move. Futures in New York are up 0.9% to $3,991.60 a troy ounce. "Gold prices rebounded toward $4,000/oz as investors flocked to safe-haven assets after a global stock selloff sparked concerns over stretched equity valuations," says Soojin Kim from MUFG. However, the precious metal remains below the $4,000 mark, pressured by a stronger U.S. dollar and reduced expectations for further interest-rate cuts in December. The medium-term price outlook remains bullish,...
The Australian dollar weakened to around $0.647, hitting its lowest level in eleven weeks. This decline continued as risk-off sentiment in global markets intensified, overshadowing the Reserve Bank of Australia's (RBA) hawkish policy outlook. At its November policy meeting, the RBA maintained its cash rate at 3.6%, citing ongoing inflationary pressures. Although RBA Governor Michele Bullock stated that the scope for further easing was limited, the market now sees little chance of a rate cut this year. However, despite the RBA's hawkish stance, it was not enough to lift the Australian...
Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months. West Texas Intermediate held above $60, while Brent settled at more than $64 on Tuesday. US crude inventories rose 6.5 million barrels last week, according to a document from the American Petroleum Institute seen by Bloomberg. That would be the biggest jump since July 25 if confirmed by official data later Wednesday. Oil declined Tuesday after a global equities rally hit a speed bump and the greenback climbed to the...
Gold edges higher on a possible technical recovery after front-month gold futures settled down 1.3% overnight. It shouldn't be a big surprise to see the precious metal consolidating in a lower $3,800-$4,050 per ounce trading range, TD Securities' Bart Melek says in a research report. The "perfect" gold bull market environment has been eroded by recent Fed rate cut ambiguities, central bank and Chinese retail buying worries, the head of Commodity Strategy says. After consolidation, however, average gold price is likely to reach a new quarterly record "north" of $4,400/oz in 1H 2026, Melek...
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...