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...
The pound sterling (GBP) exchange rate against the US dollar (USD) has continued to weaken for the fifth consecutive day and is now trading around 1.3340 in the Asian session on Thursday (October 23rd) morning. Pressure on the pound increased due to the strengthening of the US dollar amid growing market concerns ahead of the release of US inflation data on Friday. This situation was exacerbated by the partial US government shutdown, which delayed the release of important economic data, making investors more cautious. The US dollar also received additional support from growing optimism...
Oil jumped after the US announced sanctions on Russia's biggest producers, as President Donald Trump ramps up pressure on his counterpart Vladimir Putin to negotiate an end to the war in Ukraine. West Texas Intermediate surged as much as 2.8% to trade above $60 after the US blacklisted state-run giant Rosneft PJSC and Lukoil PJSC, citing Moscow's lack of commitment to Ukrainian peace. Trump is also seeking to squeeze Russia's key crude buyers — India and China. Brent closed above $62 on Wednesday. The sanctions mark a U-turn for Trump, who had announced last week he would...
Gold extends pullback in early Asian session after front-month Comex gold futures fell for a second straight session overnight. Investors have been unwinding part of last week's speculative surge, Sucden Financial's Research team says in commentary. The retreat in precious metals' prices probably reflects profit-taking and reduced safe-haven flows rather than U.S. Treasury yields' dynamics, the team says. "Still-low Treasury yields and ongoing macro uncertainty continue to offer underlying support" for precious metals, the team adds. Spot gold is 0.2% lower at $4,089.65/oz. (az) Source:...
Oil prices continued their rally after the deal on Wednesday (October 22), rising more than $2 a barrel after U.S. Treasury Secretary Scott Bessent said more U.S. sanctions targeting Russia would be announced. Brent crude jumped $2.44, or 3.98%, to $63.76 after the deal at 3:44 p.m. EDT (19:44 GMT), and U.S. West Texas Intermediate crude rose $2.42, or 4.23%, to $59.66. Brent crude closed up $1.27, or 2.07%, to $62.59 a barrel, while U.S. West Texas Intermediate crude rose $1.26, or 2.20%, to $58.50. Bessent said U.S. sanctions would be announced on Wednesday or Thursday. "We'll be...
Gold prices fell on Wednesday (October 22) to a nearly two-week low, following their sharpest one-day decline in five years in the previous session, as investors booked profits ahead of key US inflation data due later this week. Spot gold fell 1.7% to $4,054.34 an ounce, as of 1:42 p.m. ET (1742 GMT), after rising as high as $4,161.17 earlier in the session. US gold futures for December closed 1.1% lower at $4,065.40 an ounce. Gold has hit multiple record highs and is up 57% this year, driven by geopolitical tensions, economic uncertainty, expectations of a US interest rate cut, and strong...
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...