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 was little changed after notching a modest drop last week, as traders gauge the impact of European Union moves on Russian supply and strikes by Ukraine on the OPEC+ member's energy infrastructure. Brent traded above $66 a barrel after losing 0.5% last week, while West Texas Intermediate was near $63. The EU's next round of sanctions against Russia will focus on oil industry entities in so-called third countries, affecting about a dozen Chinese and several Indian bodies as the bloc looks to intensify pressure on the Kremlin's access to petrodollars. "We are now...
Oil prices fell on Friday (September 19th) as concerns about large supply and falling demand outweighed expectations that the first interest rate cut of the year by the US Federal Reserve would spur increased consumption. Brent crude futures closed at $66.68 per barrel, down 76 cents, or 1.1%. US West Texas Intermediate crude futures closed at $62.68, down 89 cents, or 1.4%. Both benchmarks rose for the second straight week. "Oil supplies continue to be strong, and OPEC is easing its oil production cuts," said Andrew Lipow, president of Lipow Oil Associates. "We haven't seen the impact of...
Gold prices rallied on Friday (September 20th) and headed for a fifth straight weekly gain, with market attention focused on further cues after the US Federal Reserve's first interest rate cut of the year. Spot gold rose 0.8% to $3,672.08 an ounce at 1:36 PM EDT (17:36 GMT). Prices have risen 0.8% so far this week. US gold futures for December delivery closed up 0.7% at $3,705.80. The US central bank cut its benchmark interest rate by 25 basis points on Wednesday, but tempered the move with a warning about persistent inflation, raising doubts about the pace of future easing. Following the...
Gold prices (XAU/USD) edged higher on Friday, halting a two-day decline, trading around $3,663 in the US session. This move followed a wild midweek reaction to the Fed's interest rate decision. On Wednesday, the Fed cut interest rates by 25 basis points to 4.00%–4.25%—a move fully anticipated by the market. Gold briefly touched a record near $3,707, but quickly corrected after Jerome Powell's less dovish press conference, triggering a recovery in the US dollar and Treasury yields. Powell emphasized that there was no need to act quickly, calling the cut a "risk-management cut" to mitigate...
Oil prices weakened for a third day, dragged down by expectations of a large global supply surplus next year. Brent traded near $67/barrel in London, with the market assessing that OPEC+ production recovery and rising output from competitors could build inventories, holding prices within a narrow range. Concerns about supply disruptions from Russia provided limited support. Ukraine's attack on energy infrastructure—including two refineries on Thursday—has pushed Russian processing capacity below 5 million bpd, the lowest since April 2022 (JPMorgan estimates). However, the narrative of a...
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...