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Oil prices rose by more than 5% Wednesday, while global stock and bond markets fell as investors fled risky assets after U.S. president Donald?Trump declared that the Gulf Conflict was over following the signing of a memorandum with Iran. Trump said that he didn't want to engage Tehran. He was speaking in Ankara, Turkey, ahead of the NATO summit. He said that dealing with Iran was a waste. After the U.S. and Iranian forces exchanged attacks in Gulf, market sentiment was already fragile. Brent crude futures jumped 5% to $78 per barrel, the biggest gain in a single day since...

Oil prices jumped by over 3% Wednesday, bond prices fell as U.S. sanctions against Iranian crude oil?threatened a ceasefire. Stocks wobbled due to concerns that the record AI rally might be losing its buyers. Brent crude futures rose 3.3% to $76.54 per barrel, the highest gain in a single day since May. Although this was far below the peak of $120 at the height of fighting, it was still enough to introduce a new inflation risk in the bond market. Jason Wong is a senior strategist with BNZ Wellington. "Obviously, the market does not like these attacks... But it's still...

On Wednesday, oil prices rose as U.S. sanctions against Iranian oil and renewed fighting in the Middle East threatened the ceasefire. Stocks were shaky because the record-breaking AI rally is running out of buyers. Brent crude futures rose 3.2% to $76.54 per barrel, which is still a far cry from the wartime peaks above $120, but it's enough to cause a stir in the bond markets by increasing inflation risks. This is especially true since months of conflict has reduced global inventories. Jason Wong is a senior strategist with BNZ Wellington. He said: "Obviously, the market does not like these...

Ankur Banerjee gives us a look at what the European and global markets will be like today. And then, 'like that' we are back to looking at shipping routes through the Strait of Hormuz. A new round of tit for tit attacks has upended the tenuous U.S. - Iran ceasefire. This has clouded the long-term prospects of peace in the Middle East. Oil prices jumped 2% after investors worried about a slow recovery in Middle East supply. The U.S. has reimposed sanctions on Iran's crude oil sales, adding to the worries. Since the conflict began at the end of Feburary,...

Bond futures fell and oil prices rose after the U.S. imposed trade sanctions on Iran following the attacks on tankers at the Strait of Hormuz. Stocks wobbled, as the momentum from the record-breaking AI rally waned. U.S. crude oil futures rose 2.7% to $72.40 per barrel, while 10-year Treasury futures fell seven ticks. Traders priced in the rising risk of inflation and interest rate increases. Jason Wong is a senior strategist with BNZ Wellington. He said that the market does not like these attacks, but it's still not in full panic mode. He said that the past few months have...

Saudi Aramco slashed crude oil prices in Asia for August-loading shipments, a move which appeared to indicate an intention?to recover market share and volumes after the Iran War. Even the record-breaking cut in the official?selling prices (OSPs) for August may not be sufficient, since crude oil from other Middle East producers and exporters from Africa and the Americas will likely remain more competitive than Saudi grades. Aramco, world's largest?oil exporter set its OSP at a $1.50 discount per barrel compared to the regional benchmark of Oman/Dubai for August. It was a drop of $11 per barrel from the OSP for...

Saudi Arabian crude sold to Asia has seen its price drop the most in'more than 20 years, but the grade is still more expensive to lift compared to some Gulf rivals. This reduces the appetite for oil from the OPEC linchpin. On Monday, the world's largest exporter cut the??official selling price (OSP), for its flagship Arab Light oil to $1.50 per barrel below the average Oman and Dubai quotations for Asia. This is a $11 reduction from the previous months. The OSPs of its four other grades were also reduced by $11 per barrel. The sudden shift is due to...

Wall Street gained in the midday trade on Monday, largely due to continued optimism about chip stocks. Oil fell as a result of an expected surge in supply. All three major U.S. indexes rose in the early afternoon after European stocks had flirted earlier with'record peaks' before retreating, ahead of the crucial earnings season for AI. The Dow Jones Industrial Average climbed 0.07% to 52,938.04, while the S&P 500 rose by 0.73% to 7,537.75, and the Nasdaq Composite gained 1.25% to 26,155.56. The MSCI index of global stocks rose 0.45% to 1,128.87. Global AI continued to dominate the markets. South...

China will lower its domestic retail prices of gasoline and diesel starting Saturday. This is due to a drop in oil prices internationally, as the?Iran-U.S. Peace talks have eased concerns about a disruption of supply through?the Strait of Hormuz. This reduction follows two cuts made in a single month to the official price cap, which determines the maximum retail price. This is the biggest drop in China's fuel prices since more than six-years. Retail?fuel costs are now less than 2% higher than they were before U.S. and Israeli airstrikes started the?Iran War at the end February. In a notice, the...

Stocks rose in the Asian session on Friday, after a lukewarm U.S. jobs report cast doubts over the prospects of a Federal Reserve rate hike. Regional activity gauges also pointed to an expansionary economy during June. MSCI's broadest Asia-Pacific share index outside Japan, which had been in decline for two days straight, rose 2.2% after a shaky beginning. South Korea's Kospi fluctuated between gains and losses before surging by more than 6%, as buyers snapped up battered chipset stocks. S&P 500 futures rose by 0.4% while Japan's Nikkei reversed its early losses and traded 1.2% higher. The latest data from...

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets The?U.S. The?U.S. It's not wise to read too much into the market movements this week due to the short week, the quarter-end trading quirks, and the looming payrolls reports, but there does seem to be some profit-taking going on, as well as portfolio reshuffling. Below, I'll go into more detail. Check out my column about the seemingly unstoppable growth of the U.S. economic over the last 17 years, and how it has affected the bull market in equity. Listen to the Morning...

Official data on Thursday showed that oil product inventories in Singapore, a key trading hub in Asia, have eased after a recovery last week. This was primarily due to a drop in stocks across the barrel. Enterprise Singapore's data shows that the combined onshore oil products stocks were 40.45 millions barrels during the week ending July 1, a decrease of 4.1% compared to last week. The weekly average for June was 37.5 million barrels. Following an interim agreement between the U.S.A. and Iran, the markets are preparing for a gradual improvement in supply as more ships begin to leave the...

Iron ore prices were range bound on Thursday as investors weighed the potential supply risks arising from a strike threat by some BHP iron ore employees against a seasonally weakened demand in China, the world's largest consumer. As of 0304 GMT, the most-traded contract for?iron?ore on China's Dalian Commodity Exchange increased 0.27% from 745.5 Yuan ($109.66), a metric tonne. As of 0254 GMT, the benchmark August iron ore contract on Singapore Exchange fell 0.18% to $98.85 per ton. BHP's Port Hedland Iron?ore operation in Western Australia may see hundreds of workers walk off their jobs next week. This would be...

India's import restrictions have caused shortages on the world's largest market for precious metals, driving premiums up to their highest levels in six months despite a weaker than usual demand. India's lower imports, which meet more than 80% its silver demand by purchasing it overseas, could have a negative impact on the global price of silver, as well as help narrow its trade deficit and reduce pressure on its currency, the rupee. Chirag Thakkar, the chief executive officer of Amrapali Group Gujarat - a major silver importer - said that "Silver Imports are almost at a standstill, creating a severe...

Aluminum gained on Wednesday as a result of'renewed tensions in the Middle East' after 'fresh U.S. attacks on Iranian targets threatened derailment of a fragile ceasefire. As of 0700 GMT, the benchmark three-month aluminum?on London Metal Exchange was?up by 0.33% to $3,148 per metric ton. The Shanghai Futures Exchange's most traded aluminium contract rose by 0.68%, to 23,075 Yuan ($3,394.38) per ton. The rise in prices comes after the latest U.S. airstrikes on Iranian targets, and projectiles have 'hit ships in the Strait of Hormuz. This could undermine efforts to restore a?normal supply? in the region. Around 9% of the...

Aluminum prices rose on Wednesday as concerns about supply and risk increased after the new tests of the fragile U.S. Iran ceasefire. By 0300 GMT, benchmark three-month aluminum on the London Metal Exchange had increased by 0.61% to $3,156.5 per metric ton. The Shanghai Futures Exchange's most traded aluminium contract was up 0.72% to 23,085 Yuan ($3,396.60). The latest U.S. strike on Iranian targets following projectiles hitting ships in the Strait of Hormuz threatens to generate once again a?supply-risk that had been largely dissipated after last month's truce deal. Around 9% of the world's aluminium smelting is done in the...

Metals trading and the world it operates in is constantly changing. Political and military conflict has shattered what was once a highly globalised supply chain into regionally different parts. Metals are moving away from the single benchmark global set by the 149-year old London Metal Exchange (LME), which is now owned by Hong Kong Exchanges and Clearing. This changing reality is evident in the opening of the Shanghai Futures Exchange (ShFE) nickel contract for overseas firms. Shanghai has already become the leading force in China in terms of establishing benchmark metals price in its domestic market. ShFE wants to expand...

Aluminum prices increased on Tuesday, as markets considered the potential for a tightening of supply amid Middle East tensions. Benchmark 'three-month' aluminium at the London Metal Exchange rose 0.5% by 1009 GMT to $3,129 per metric ton, nearing resistance from the 200-day average of $3,161. A ship was struck overnight in the Strait of Hormuz, and Iran announced that there would be no peace talks unless Donald Trump stopped threatening to restart war. As optimism grew over the prospect of Gulf supply via Hormuz, aluminum prices fell 16% in June, their biggest monthly drop since 2008. Aluminium is still oversold...

Official data released on Tuesday showed that China's central banks reported its biggest monthly increase in gold reserves for more than two and a half years in June, even though bullion prices fell. The People's Bank of China reported that the central bank of China continued to purchase gold for the 20th consecutive month. Its reserves reached 75.44 million fine troy ounces at the end of the month compared to 74.96 million a month before. This was the largest monthly increase since October 2023 when the holdings increased by 740,000 pounds. Data showed that the value of gold reserves in...

CATL, a Chinese company, has received a safety production permit for the flagship Jianxiawo Mine. This is a major regulatory hurdle that will allow production to resume after a nearly year-long suspension. According to Credit China, an official website that tracks corporate and individual compliance, the Chinese battery giant obtained the permit on 29 June. It will be valid until 27 February 2028. CATL announced in August that it had ceased operations at the Jianxiawo Mine, located in eastern China's Yuchun city, when its previous license expired. The stoppage triggered a temporary rise in the price of lithium futures, and...

Prices of aluminium rose on Monday, as attention shifted back to forecasts about shortages caused by disruptions in Middle East supplies and shrinking stocks. Benchmark Aluminium on the London Metal Exchange was up by 0.8% at $3,115 per metric ton?at 1603 GMT. It fell to $3,040 - the lowest level since February 19 - as optimism grew over a possible resumption in Middle East supplies. The Middle East is home to 9% of the world's aluminium smelting capacities. Even if the Strait of Hormuz is reopened, this market will still see a deficit in 2018. Macquarie analysts expect Middle East...

Operation Epic Fury, which was launched at the end February, quelled the early-year euphoria of copper and tin. Since then, the Iran war has been the main topic of discussion. This has made it difficult for traders to make sense of the headlines because they are so confusing. It seems that the Strait of Hormuz has entered a quantum world in which it is simultaneously open and closed, depending on who is speaking at any particular point?in time. Vanda Insights, a provider of oil market analyses, founded by?Vandana hari, says Schrodinger Strait is "continuing to reopen, but it's patchy and...

A report released by the Australian government on Friday stated that efforts made by China's iron ore buyer, which is backed by its state, to reduce?costs of Chinese steel mills could push prices down in the medium-term. This was a rare admission that such activities may affect earnings. Iron ore is Australia's largest export. It contributes significantly to the government's revenue. China purchases roughly three quarters of all seaborne trade. In its Resources and Energy Quarterly Report, the Department of Industry, Science and Resources said that state-backed China Mineral Resources Group has increased activity 'in the iron ore markets this...

Aluminum prices dropped on Thursday, as improved supply expectations overshadowed the support of resilient manufacturing data. Benchmark -three-month aluminum on the London Metal Exchange fell 0.46% to $3,062 per metric tonne by 0700 GMT. It fell to $3,040 a metric tonne earlier in the day, its lowest level since February 19. The Shanghai Futures Exchange's most traded aluminium contract fell 0.38%, to 22,400 Yuan ($3,300.09). Emirates Global Aluminium announced that it would be able to restore production at its Al Taweelah Complex - one the largest aluminium production facilities in the world - sooner than expected, signaling an "improving outlook"...