Crude Oil

Gold fell 2% on the Friday due to?increasing Treasury yields, a'stronger U.S. Dollar and higher oil prices. By 1000 GMT, spot gold had fallen 2.2% to $4,546.45 an ounce. This was its lowest price since May 5. Bullion has already lost 3.6% this week. U.S. Gold Futures for June Delivery lost 2.9% and reached $4,550.80. The yields on the benchmark 10-year U.S. Treasury note rose to an almost one-year-high, increasing 'the opportunity cost' of owning non-yielding Gold. Dollar strength also made greenback-priced gold more expensive for overseas buyers. StoneX analyst,?Rhona o'Connell, said: "Yields are higher and the dollar is stronger...

Global shares fell on Friday, as fears of inflation overtook investor euphoria about tech stocks. Bond yields rose and expectations for interest rate hikes in 2019 increased. MSCI's world stock index fell by 0.35%. Europe's STOXX600 dropped 1.36% after?rising the previous two sessions. Nasdaq and S&P futures both fell by 1.53%, while the Nasdaq index futures dropped by 1.09%. Wall Street had hit new highs after a 4% rise in AI darling Nvidia. MSCI's broadest Asia-Pacific share index outside Japan dropped 2.57%. Japan's Nikkei fell 1.99% following data showing wholesale inflation increased to 4.9% in the month of April, marking...

Gold?fell on Friday to a lower level than one week ago and?was destined for a weekly drop as rising energy prices fueled inflation fears and extended higher interest rates. Investors were focused on the meeting of U.S. president Donald Trump with Chinese president Xi Jinping. By?0205 GMT the spot gold price was down by 0.8% to $4,613.19 an ounce, its lowest since May 6. Bullion is down 2.1% this week. U.S. gold futures for June delivery fell 1.4% to $4 619. Dollar has gained more than 1% this week. This makes greenback priced bullion costly for holders of currencies other...

Gold prices fell on Thursday as a result of rising 'oil' prices and a 'firmer dollar. This was after news broke about a sunk vessel and a snatched vessel. Investors are also looking forward to the meeting between U.S. president Donald Trump and Chinese president Xi Jinping. At 2:48 pm EDT (1848 GMT), spot gold was down by 0.4%. U.S. Gold Futures for June Delivery settled at $4,685.30, down 0.4%. The U.S. Dollar was up 0.3% making greenback-priced gold more expensive for holders other currencies. News of the sinking and seizure off the coasts of the United Arab Emirates of...

Lawyers for Venezuela have told a U.S. court this week that Citgo Petroleum, the Venezuelan-owned U.S. refining company, has seen its value 'increase since the sale of their 'parent company was ordered last year. This should prevent the execution process. Amber Energy, a hedge fund affiliate, and a Delaware judge approved in November a $5.9billion bid from Elliott Investment Management for Citgo Holding, the parent company of Citgo. This was after a court-organized share auction to pay creditors. The sale has yet to be approved by the U.S. Treasury Department and a U.S. Venezuela and rival bidders have asked an...

A source close to the IMF confirmed that Iraqi officials had approached the IMF about financial assistance due to the conflict in the Middle East. The source stated that initial discussions took place 'last month at the spring meetings of IMF and World Bank, in Washington. Discussions are still ongoing on how much funding Iraq will need, and how a loan will be structured. The massive U.S. and Israeli bombing campaign that began February 28 against Iran, which prompted Tehran to close the Strait o'Hormuz, has rocked Middle East and caused damage to infrastructure and economies. Iraq has been 'hard...

?Gold prices dipped on Thursday as investors focused mainly?on a?recent development in the Middle East conflict and signals from U.S. president Donald Trump's recent meeting with Chinese president Xi Jinping. At 9:42 am EDT (1342 GMT), spot gold was down by 0.4% to $4,668.34 an ounce. U.S. Gold Futures for June Delivery fell by 0.7% to $4672.70. The dollar?U.S. The dollar rose 0.1% and made metals priced in greenbacks more expensive to holders of other currencies. Oil prices fell after Iran's official media reported that 30 vessels had recently crossed the Strait of?Hormuz. This report briefly boosted gold prices. Bart...

The gold price rose on Thursday as investors waited for any signs of a possible resolution to the Iran War. As of 0732 GMT, spot gold was up 0.4% to $4,707.08 an ounce. U.S. Gold Futures for June Delivery rose 0.4% to $4,713.80. The yields on the benchmark 10-year U.S. Treasury note have decreased, which has lowered the opportunity costs of gold holdings. GoldSilver Central's Managing Director Brian Lan said, "Gold is consolidating right now as everyone is watching what happens in the high level talks between the U.S.A. and China." Lan said, "I think there is an opportunity for...

It may not be sufficient to wait out the oil crisis. Federal Reserve officials may have to show that they will take action to achieve their inflation targets, just as European counterparts seem to be determined to do. If that happens, it could be a big deal given what Wall Street forecasters are currently thinking. The crude oil futures for the end of year are at their highest levels since the Iran 'war began, with little evidence of a lasting peace agreement. The latest U.S. April inflation data showed that the damage to?already high prices was escalating. The Fed's target...

The gold?price remained steady on Thursday as investors centered their attention on the?conversations?between a?U.S. The Iranian war was the focus of attention between President Donald Trump and Chinese president Xi Jinping. As of 0212 GMT, spot gold remained unchanged at $4,688.43 an ounce. U.S. Gold Futures for June Delivery fell 0.2% to $4,695. GoldSilver Central's Managing Director Brian Lan said, "Gold is consolidating right now as everyone is watching what happens in the high level talks between the U.S.A. and China." Lan said: "I think (gold) is also a window for those investors who want to get into metal." Trump...

MSCI's global equities index advanced along with the dollar Wednesday as investors?assessed higher-than-expected inflation data, while they waited for a meeting between U.S. president Donald Trump and China’s Xi Jinping. According to the Bureau of Labor Statistics of the Labor Department, U.S. producer price increases were?higher than expected for April and their largest gain since early?2022. The latest economic impact of the U.S. and Israel war on Iran is evident in the U.S. consumer price data, which showed that energy costs have increased the most since 2012. Jim Baird is the chief investment officer of Plante Moran Financial Advisors. He...

The gold price fell a second time on Wednesday as inflation fears fueled by war weighed on the expectations for interest rate reductions. Markets were also looking forward to the upcoming summit between U.S. president Donald Trump and Chinese President Xi Jinping. At 1:59 pm EDT (1759 GMT), spot gold was down by 0.6% to $4,686.35 an ounce. U.S. Gold Futures closed 0.4% higher at $ 4,706.70. U.S. Producer Prices increased more than expected in April, posting the biggest gain since early 2020. This is the latest sign that inflation has accelerated amid a 'war on Iran. Peter Grant, senior...

During a leadership'summit with Donald Trump, President Xi Jinping stated his interest in buying more U.S. crude oil to reduce China’s dependence on Strait of Hormuz. The readout said that both leaders agreed the Strait of Hormuz should remain open in order to allow for the free flow of oil and Xi was against any militarization of the strait or tolls. The Chinese summaries published by the state media did not mention oil purchases. China's Foreign Ministry did not immediately respond to a comment request. Trump and Xi spent several hours together on Thursday, the first day of a two-day...

Gold remained largely unchanged on 'Thursday as investors digested a rise in U.S. Inflation due to increased energy costs associated with the Iran War. As of 0931 GMT, spot gold was up 0.1% to $4,689.79 an ounce. U.S. Gold futures for June delivery dropped 0.2% to $4,696.20. China's Xi Jinping said that the trade talks are?making good progress on Thursday at the beginning of a two day summit. However, he warned that disagreements over Taiwan may?damage relationships and even lead conflict. Gold is still hovering at $4,700 while markets digest the latest U.S. inflation figures. Carlo Alberto De Casa, a...

The stock market started Wednesday's Asian session in a negative mood, as the U.S. inflation rate was higher than expected and underscored the growing economic impact of the Middle East conflict. MSCI's "broadest" index of Asia-Pacific stocks outside Japan fell 0.6% for the second consecutive day, as Korean shares dropped as much as 3.2%. They then recovered. In recent weeks the Korean market has been on fire, breaking records on a rally led by artificial intelligence that some traders believe was due for a correction. Nikkei was down by 0.2% in Japan, while S&P e-mini futures were 0.1% lower. Tony...

The dollar rose on Tuesday as the hopes of a deal that would allow ships to pass through the Strait of Hormuz faded. Meanwhile, a hot rally in "chip" stocks cooled down and traders waited for U.S. inflation data. The U.S. president Donald Trump said that the ceasefire agreement with Iran, which had been in place for a month, was "on life-support" after Tehran's reaction to the U.S. plan of ending the war showed how far apart the two sides were. Brent crude futures rose almost 4%, to $108 per barrel. The STOXX 600 in Europe was down by 0.6%....

Investors were 'fretted' that the talks between Iran and the U.S. had reached a deadlock, leaving the Strait of Hormuz almost?closed. This sent oil prices back up. Donald Trump, the president of the United States, rejected Iran's response on Sunday to a U.S. proposal for peace talks that would end the war. He said Tehran's requests were "totally inacceptable". Brent crude futures, around 45% more expensive than they were before Israel and the U.S. began their strikes against Iran on February 28th, jumped up to 4.6% over night and closed at $103.75 per barrel, an increase of 2.4% for the...

On Monday, the dollar rose and share futures fell in Asia as signs emerged that the talks between the United States &?Iran had reached a deadlock. This would have effectively closed the 'Strait of Hormuz and sent oil prices up. Donald Trump rejected Iran's response on Sunday to the U.S. proposal to hold peace talks in order to end the conflict, calling Tehran's demands "totally unacceptable." Iranian media reported that an Iranian plan sent to Washington stressed the need to end the war on all sides and lift sanctions against Tehran. Bruce Kasman noted that the conflict in the Middle...

On Friday, global equities were mixed as new U.S. job data showed growth in the U.S. market. However, consumer sentiment was down and oil prices continued to rise due to ongoing fighting near Strait of Hormuz. European stocks fell, but the S&P 500 gained 0.8% and the Nasdaq Composite jumped 1.4%. The Dow Jones Industrial Average remained largely unchanged. Chipmakers, such as Qualcomm, recovered. Qualcomm was up around 10% while Nvidia rose 2.3%. The price of oil rose again on the Friday following renewed fighting in the Strait of Hormuz, which raised doubts about the ceasefire agreement between Iran and...

China announced on Friday that it would raise the price caps of gasoline and diesel, one month after it curbed the price increases. The country is trying to control the inflationary effects of the Iran War and the closure of the Strait of Hormuz. The?country’s state planner announced on Friday that maximum retail gasoline prices and 'diesel will rise by 320 Yuan ($47.05), per metric tonne, as part of an ongoing price review. Retail diesel prices will also increase by 310 Yuan per metric tonne. China is the world's?second-largest consumer of oil. It has a diversified oil supply network and...

As the U.S. and Iran traded?fires in the Middle East many Asian markets were still on track for stellar gains this week as AI 'demand' swept over chipmakers. Benchmark Brent crude futures rose about 1% in Asia to $101 per barrel, while European stock?futures fell 0.8%. FTSE futures dropped 0.7% while S&P futures rose 0.3%. Sterling remained steady at $1.3575, but traders were wary of Labour Party losses, which could put pressure on Prime Minister Keir starmer. The United States and Iran clashed over the Gulf, and the UAE was again attacked in a test for a month-long truce. However,...

Oil prices rose on Friday, and stocks were slightly lower. The U.S. and Iran were exchanging fire in the Middle East. However, many Asian markets were still heading towards stellar weekly gains as AI demand has swept chipmakers. Benchmark Brent crude futures rose 1.3% to $101.60 per barrel, while European stock futures declined 0.7%. On Thursday, the United States and Iran traded fire in the most severe test of their month-long truce. Iran claimed that the situation was back to normal while the U.S. stated it didn't want to escalate. The President Donald Trump stated that the ceasefire which has...

On Thursday, global stocks mostly maintained their gains - despite the fact that oil prices fell again due to optimism about a U.S. Iran peace deal. Meanwhile, it appeared as if there was no resolution for the Strait of Hormuz. The previous session's highs were maintained on?Wall Street. The?S&P500 was little changed and the Nasdaq composite rose 0.27%. Dow Jones Industrial Average increased by 0.12%. The STOXX Europe 600 index was down 0.37% after a 2.2% jump on Wednesday. MSCI's broadest Asia-Pacific share index outside Japan also hit a new all-time record. Last up 1.75 %. Japan's Nikkei surpassed 62,000...

Oil prices sank as stocks rose Thursday amid optimism about a U.S. Iran peace deal. However, the fate of the Strait of Hormuz remained unclear. MSCI's "All-Country World Index" rose by 0.23%, approaching a record high. Europe's STOXX was little changed after a?2.2% jump on Wednesday. MSCI's broadest Asia-Pacific index outside Japan also rose to an all-time record high. After a long holiday weekend, trading on the Nikkei 225 index resumed. Samy Chaar, chief economist at Lombard Odier, said that while the Middle East situation is uncertain, "the market momentum is moving in a positive direction", and they have taken...