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 gained as progress between the US and China on trade boosted the outlook for energy demand and lifted risk assets. Brent rose above $66 a barrel, after rallying almost 8% last week, while West Texas Intermediate was near $62. Top negotiators said they came to terms on a range of points, setting the table for President Donald Trump and counterpart Xi Jinping to finalize a deal. The leaders will meet on Thursday. Trump's threat of 100% tariffs on Chinese goods "is effectively off the table," Treasury Secretary Scott Bessent told CBS News. The US and China are the...
Gold falls in early Asian trade as U.S.-China trade deal optimism overcomes signs of cooler U.S. inflation. Treasury Secretary Bessent hailed trade talks between the U.S. and China in Malaysia as "constructive." The remarks are likely to diminish the safe-haven appeal of the precious metal. Meanwhile, U.S. consumer prices rose by less-than-expected 3% on year in September. The inflation data is unlikely to influence the gold price, Commerzbank Research's Carsten Fritsch says in a research report. Rate expectations have recently played just a minor role in the development of gold prices, the...
Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war in Ukraine. Brent crude futures closed 5 cents, or 0.1%, lower at $65.94 a barrel, while U.S. crude <CLc1> closed at $61.50 a barrel, down 29 cents, or 0.5%. Both crude benchmarks rallied early in the session, extending gains of more than 5% achieved on Thursday after the sanctions were announced, but then weakened in the final two hours of trading. Crude prices still closed up more than...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the precious metal is still expected to post its first weekly loss in 10 weeks. Spot gold fell 0.2% to $4,118.29 an ounce at 1:42 p.m. ET (1742 GMT), after falling nearly 2% earlier in the session. Prices have fallen more than 3% for the week. US gold futures for December delivery closed 0.2% lower at $4,137.8 an ounce. "Gold and silver jumped on lower-than-expected September core CPI, but it likely...
Silver (XAG/USD) weakened on Friday, trading around $48.85 per troy ounce at the time of writing, down 0.10% for the day, as the market consolidated below the psychological $49 level. The precious metal is taking a breather after its recent rally, fueled by growing expectations of further monetary easing from the US Federal Reserve (Fed). The latest US Consumer Price Index (CPI) report showed that headline inflation rose by 0.3% month-on-month, lower than the 0.4% forecast, while core inflation slowed to 3.0% year-on-year. The data reinforced expectations that the Fed will maintain its...
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...