Oil prices rose by nearly a dollar a barrel on Thursday as Russia and Ukraine blamed each other for a stalled peace process, and as earlier U.S. data showed signs of strong demand in the top oil consuming nation. Brent crude futures rose 83 cents, or 1.2%, to settle at $67.67 a barrel, a two-week high. U.S. West Texas Intermediate crude futures gained 81 cents, or 1.3%, to close at $63.52 a barrel. Both contracts climbed more than 1% in the prior session. The path to peace in Ukraine remained uncertain, turning oil traders cautious after a selloff over the past two weeks on hopes that...
EUR/USD retreats some 0.40% during the North American session as the Greenback posts solid gains following the release of economic data from the United States (US). Strong figures regarding business activity outweighed a soft jobs report, pushing traders to trim bets for a Federal Reserve rate cut at the September meeting. The pair trades at 1.1604 after reaching a daily high of 1.1662. Market sentiment shifted sour as investors await Fed Chair Jerome Powell's speech. S&P Global revealed August's Purchasing Managers Index (PMI) surveys that showed that business activity in the...
Oil was steady as the market weighed the outlook for Russian crude flows to India after a Trump administration official ramped up his criticism over the trade ahead of an expected tariff increase. West Texas Intermediate was near $63 a barrel, heading for a modest weekly gain. Brent closed below $68. White House Trade Adviser Peter Navarro said India "doesn't appear to want to recognize its role in the bloodshed," adding that he sees US import levies on the nation doubling as scheduled on Aug. 27. President Donald Trump has threatened to raise the duties on Indian imports to the...
Gold is steady in the early Asian trade. Market participants could remain cautious ahead of Fed Chair Powell's Jackson Hole address on Friday, says Fadi Al Kurdi, founder and CEO of FFA Kings in a commentary. "The uncertainty over whether he will signal a stronger commitment to supporting employment or reaffirm the fight against inflation could affect the market's direction," he adds. A more dovish stance could boost gold prices. Spot gold is flat at $3,338.31/oz. Source: Marketwatch
Oil was steady as the market weighed the outlook for Russian crude flows to India after a Trump administration official ramped up his criticism over the trade ahead of an expected tariff increase. Brent held below $68 a barrel, on track for the biggest weekly gain since early July, while West Texas Intermediate was near $63. White House trade adviser Peter Navarro blasted India again for continuing to buy Russian oil and said he sees US import levies on the nation doubling as planned on Aug. 27. "India doesn't appear to want to recognize its role in the bloodshed," he said....