Asia / Pacific

Donald Trump, U.S. president, told reporters on Tuesday at the G7 meeting in France that Iran's memorandum with Iran clearly states that it will not possess a nuclear weapons. Trump announced that he would release the U.S. - Iran memorandum text in a 'formal' setting. President Trump also expressed his approval of the idea to send the Iran deal for review to Congress, as requested by some Republican legislators. Trump told reporters, "I've never sent it before, I never even considered it. But?I will," he said. "I'll send it to Congress." "I like the idea." Details of the U.S. agreement...

Indian shares closed higher 'on Tuesday. They advanced for a third consecutive session as a preliminary U.S. - Iran peace deal cooled down oil prices & improved risk appetite. The Nifty?50 increased 0.57%, to?23989.15. Meanwhile, the BSE Sensex rose 0.71%, to 76 808.48. This represents gains of 3.6% and 4% respectively in just three sessions. The small-cap and middle-cap indexes each rose 0.4%. Brent crude dropped about 2%, to $81.6 per barrel. This was a good thing for India, which imports oil. The?moderation in oil prices, to around $82 per barrel, along with India's stable macro-fundamentals, steady interest rates, and...

After the U.S. and Iran deal to end the Middle East conflict, spot premiums for crude oil in Asia are back to their pre-war level. However, caution over how soon normal shipping will resume is keeping the oil markets afloat. Prices fell across the board after U.S. president Donald Trump announced that a preliminary deal had been signed. Details have not yet been released, and the U.S. as well as Iran say that a permanent ceasefire is still being negotiated. Dubai's premium for swaps on Middle East crude returned to its pre-war level of $2.06 a barrel on Monday. This...

Authorities?said Tuesday that a fire was caused by debris from a drone at an oil depot located in southern Krasnodar, Russia. They also?closed the local road linking the area with the Crimean Peninsula. The fire that broke out at the oil depot in the Poltavskaya region?of Krasnodar was not fatal, according to a telegram message from the regional authorities. The authorities said that they had closed a local route connecting the area to a regional road leading to a?bridge over the Kerch Strait? linking Crimea with the Krasnodar Region, which was built by Moscow following the annexation. The bridge is...

?U.S. Vice President JDVance stated on Monday that he hoped the text of an agreement to halt the war in Iran and reopen the 'Strait Of Hormuz would be released this coming week. Further negotiations regarding the details of the deal were scheduled to continue. Vance said in an interview with CNBC that the United States expected the waterway to be open for a long time without tolls. He said, "Our expectation is the Strait?is?going to be opened toll-free for the long term." This is the kind of thing we will figure out during these technical negotiations. You know there...

Indian shares closed higher Monday as they followed a global rally. Oil prices fell after the U.S. announced that it and Iran had reached a preliminary 'agreement' to end the conflict and resume traffic along the Strait of Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that two parties will sign a Memorandum of Understanding in Switzerland this Friday. Investors can now find comfort in the fact that Iran's war is nearing its end, according to Gaurav Bhandari. Chief executive officer of Monarch Networth Capital. The benchmark Nifty?50 index rose 0.98%, to...

Kommersant reported that the Russian government had authorized a few oil refineries to produce fuels at lower environmental standards for the domestic market. This is because the country has been experiencing fuel supply disruptions. According to data collected by, media reports and social media posts have indicated that there are supply disruptions in Russia in a dozen different regions. Only two regions of Siberia, besides the Russian-held Crimea have formally?confirmed these disruptions. Last week, Deputy Prime Minister Alexander Novak requested fuel market forecasts in order to avoid problems with fuel distribution and meet domestic demand. Ukraine has been targeting Russian...

Indian shares rose on Monday as they tracked a?global rally. Oil prices fell after the U.S. announced that it had reached an initial agreement with Iran to end the?war? and resume?traffic through?the Strait?of Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 10:02 am IST, the benchmark Nifty 50 index was up 1.45% to 23,964 while the BSE Sensex?added a further 1.54% to reach 76,679.37. Brent crude fell 4.7%, to $83 per barrel, its lowest price since March....

Indian shares rose on Monday, following a global rally. Oil prices fell after the U.S. announced that an initial agreement had been reached between the U.S., Iran, and the United Nations to end the war, and resume 'traffic' through the Strait of Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 9:43 a.m. IST, the benchmark Nifty 50 index was up 1.39% to 23,954, while the BSE Sensex gained 1.43%, reaching 76,605.4. Brent crude fell 4.7%, to $83...

Indian shares rose a little higher at the opening of trading on Monday. They were following a global rally as oil prices fell after U.S. President Donald 'Trump'?and Iran’s deputy foreign minister announced an initial agreement to end the conflict and resume traffic in the Strait of Hormuz. Shehbaz Sherif, Pakistani Prime Minister, who served as the'mediator in these negotiations, announced that on Friday they will sign a Memorandum of Understanding in Switzerland. As of 9:15 a.m., the benchmark Nifty rose by 1.53% to 23984.85, and?the BSE Sensex increased by 1.59% to 76,725.27. IST. The Nifty and Sensex gained about...

Indian shares will open higher on Monday as they track a global rally. Oil prices, however, have fallen after U.S. president Donald Trump?and Iran’s deputy foreign minister announced an initial agreement to end the war and resume traffic through Strait of?Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 7:38 am IST, the GIFT Nifty Futures were trading at 23983.5. This means that Nifty 50 will open 1.5% above Friday's closing price of 23,622.90. The Nifty and BSE...

A senior U.S. official stated on Friday that the United States and Iran are close to signing a deal. Washington is expecting to sign the deal within days. The U.S. official told reporters that the team had put them in a good position, but they were not yet at the finish line. The official stated that the agreed terms accomplish President Donald 'Trump's main objectives and put the U.S. in a "very, very good position" at the end. According to the official, the terms of this so-called "memorandum of agreement" include the reopening of the Strait of Hormuz as well...

Data showed that the Middle East crude market fell sharply, and even slid into discounts. This was after the United States, Iran, and other countries reached a framework agreement to reopen Strait of Hormuz. The 'Asian refining market led by China is still subdued despite months of?run-cuts.' Hopes for higher supply following the deal have pushed Dubai and Middle East benchmarks to contango, and provided rare arbitrage opportunities in Europe and the United States. Benchmark Dubai’s premium to swaps fell into a 46-cent discount on Tuesday. This is the first contango structure in January. A contango market structure is one...

China's aluminium production rose by 1.7% in May compared to a year ago, marking the ninth consecutive month of gains. This was aided by higher overseas prices. Prices have since eased and may even fall further now that Washington and Tehran have signed a ceasefire. The National Bureau of Statistics reported on Tuesday that China's aluminum output reached 3.89 million tons in May. The first five months of this year saw a 3.5% increase in output to 19.22 millions metric tons. There was still a lot of uncertainty in May about a U.S. - Iran peace deal. The Strait of...

Gold prices rose for the third straight session on Monday. They reached a high of?nearly one week after Iran and United States agreed that their war would be halted. This agreement eased expectations about higher interest rates. Gold spot rose 3%, to $4,344.77 an ounce at 08:42 am EDT (1242 GMT), reaching its highest level since the 9th of June. U.S. Gold Futures? climbed 3% to 4,366.80. The U.S. Dollar Index was down by 0.2% making metals priced in greenbacks more affordable to holders of other currencies. The deal, while still in its framework stage, was the most significant breakthrough....

On Monday, aluminium prices dropped to their lowest levels in?two and a half months as a U.S. - Iran framework agreement aimed at ending their war improved prospects of deliveries from Gulf -producers. However, shippers remained cautious about transiting through 'the strait of Hormuz. By 1120 GMT the benchmark three-month aluminum on the London Metal Exchange had fallen 3.2% to $3,422.50 per metric ton, after having reached $3,408, which was its lowest level since March 30. U.S. officials and Iranian officials announced that they had reached a preliminary agreement to end the war and reopen the Strait of Hormuz. The...

Energy Transition Minerals hopes to expand in Spain's Galicia Province as it waits for a resolution of the?legal challenges regarding its massive rare earths project on Greenland. Daniel Mamadou said in an interview with? In an interview, Daniel Mamadou told? Mamadou stated that "Galicia has an ambitious plan to revive its mining industry." He added that up to 52 mines will be put out to tender for development. "We think that the Penouta operation can be at the heart of an expansion of Galicia... We might be able to?benefit from economies of size and position." ETM has not provided any...

On Monday, gold prices reached a near-week-high as a tentative peace deal between the?U.S. Oil prices fell as a result of the Iran deal, which also eased concerns about a rate hike by the U.S. Federal Reserve. As of 0857 GMT spot gold was up 2.7% at $4,334.48 an ounce. This is its highest price since June 9. U.S. Gold Futures for August Delivery climbed 2.8%, to $4355.30. U.S. officials and Iranian officials announced that they had reached an agreement to end the war and reopen Strait of Hormuz. This preliminary pact sent oil prices down but left the fate...

The Wall Street Journal, citing an individual familiar with the situation, reported that Australia's richest person, mining baron Gina Rinehart has invested a total of more than $1 billion into the $75 billion SpaceX record-breaking IPO. Hancock Prospecting, Rinehart's company, did not confirm the size of their'stake' in Elon Musk SpaceX. She said, however, in a press release: "This investment is significant for Hancock and we are happy to have received a allocation in an IPO that has been extremely popular and well oversubscribed." She praised Musk because he built two of the top 10 companies in the world. "We...

Gold rose by more than 2% on Monday, after U.S. officials and Iranian officials announced that they had reached a preliminary agreement to end the war. This lowered oil prices and eased concerns about inflation and rising interest rates. By 0536 GMT the spot gold price had risen 2.5%, to $4,323.29 an ounce, its highest since June 9, and extended gains for a 3rd straight session. U.S. Gold Futures for August Delivery rose?2.5% at $4,343.80. U.S. officials and Iranian officials announced on Sunday that they had reached an agreement on a framework for ending their war, stopping the U.S.'s blockade...

Gold prices rose by more than 2% after U.S. officials and Iranian officials announced that they had reached a preliminary agreement to end the war. This lowered oil prices and eased concerns about inflation and rising interest rates. Gold spot rose 2.5%, to $4,322.87 an ounce, by 0312 GMT. This was its highest level since the 9th of June and extended gains for a 3rd straight session. U.S. Gold Futures for August?delivery increased 2.5% to $4344.80. U.S. officials and Iranian officials announced on Sunday that they had reached an agreement on a framework for ending?their conflict, stopping the U.S.-led blockade...

Singapore is establishing an over-the counter gold clearing system and introducing central bank gold vaulting services. This comes as the city state looks to establish itself as a gold trading hub. Gan Kim Yong, the Deputy Prime Minister, told the Asia-Pacific Precious Metals conference on Monday that the Singapore Exchange will?establish a gold clearing system over-the-counter for Loco Singapore or physical gold in Singapore by the end this year. He said that six banks will be clearing members: DBS, Deutsche Bank ICBC Standard Bank J.P. Morgan OCBC, UOB. Gan stated that the Monetary Authority of Singapore (MAS) will offer central...

Gold prices rose by more than 1% on Monday after U.S. officials and Iranian officials announced they had reached an agreement to end their conflict. This lowered oil prices and eased concerns about inflation and rising interest rates. As of 0010 GMT spot gold rose 1.8% to $4,297.42 an ounce. This is its highest level since the 9th of June. U.S. Gold Futures for August Delivery rose 1.9% to $4,318.10. U.S. officials and Iranian officials announced on Sunday that they had reached an agreement?on the framework of a peace deal to end their conflict, stop?the U.S. Blockade of Iran, and...

The expectation of U.S. tightening of monetary policy and the strength in the dollar has taken some wind out?of a "perfect storm" that was driving an upswing?in gold prices since 2023. Prices are now vulnerable?around $4,000/ounce, as interest rates unfold. Gold's reversal raised questions about the durability of its record-breaking rally, even though geopolitical risks, fiscal deficits, and central bank purchases continue to support bullion in the long-term. The spot gold price has dropped 25% after hitting a record of $5,595 back in January. This is because the Iran War sparked a rally in oil prices and increased bets for...