Crude Oil

As it prepared to launch economic sanctions against Iran's trading partners on Monday, the U.S. warned Iran of "the greatest financial assault ever marshalled". Iran, in turn, vowed "to shut down all oil exports" from the Gulf if the economic "war" continues. U.S. Treasury secretary Scott Bessent is scheduled to hold a news conference on Monday at 2 pm EDT (1800 GMT), promising even harsher measures against a country which has been subjected to economic sanctions almost continuously since the Islamic Revolution in 1979. Bessent, in a Sunday Financial Times opinion piece, wrote: "At dawn starts an economic D-Day -...

Scott Bessent, U.S. Treasury secretary, said on Thursday that he will hold a press conference on Monday to "discuss exactly what we're going?to?do?" on Iran. Donald 'Trump' warned on Wednesday that any country providing "any kind of lifeline" to Iran would face economic consequences. The United States is trying to end a six-month war with Israel. Bessent said to CNBC that "I believe oil?markets misinterpret what this economic pressure is." On Thursday, oil prices rose to a three-week high. Bessent stated, "We have asymmetrical information and I'm not certain why oil has appeared on this." "If we apply the maximum...

Investors assessed the prospects for the 'U.S.-Iran War and the safety of shipping through the Strait of Hormuz in the early trading on Thursday. Brent crude futures?for October delivery?rose?25 cents?or?0.3%?to $91.87 per barrel at 0037 GMT?while U.S. West Texas intermediate crude futures?for September?slipped 2 cents?to $85.81 per barrel? The more active WTI contract for October gained 14 cents or 0.2% to $84.53. Brent and WTI benchmarks both gained for a fourth consecutive session on Wednesday. They settled at their highest level since July 24. Later on Thursday, the?September WTI contracts expire. "Oil prices remain elevated, as the market is supported...

European government bond rates rose to multi-year highs as the global selloff intensified on Wednesday amid fears about the swelling of sovereign debt. Oil futures also gained for the fourth consecutive day, despite the fading prospects of an agreement to end the Middle East conflict. European stocks dipped, and Wall Street futures indicated modest declines, after Asian shares fell due to concerns over the outlook of semiconductor companies. South Korean shares ended the day nearly 6% down, their largest one-day decline in three weeks. Investors are worried about the high inflation and ballooning debt of the U.S. government, which is...

According to the Finance Ministry, Wednesday's rise in Germany's debt costs to a 15-year high is a reflection of the increased security threats facing the country following Russia's invasion into Ukraine and the necessity to spend a lot more on defence. In Wednesday's session, German borrowing costs for 10- and 30-year maturities reached a new 15-year peak. The bond yields for other major Western economies, including the U.S.A. and Japan, have also reached multi-decade heights this week. This is due to the ballooning government debt as well as geopolitics. The security situation in Germany changed dramatically due to the aggression...

On Wednesday, global bond yields stabilized at their highest levels in decades amid fears about soaring sovereign debt. Oil futures rose for the fourth consecutive day as the 'prospects' of an agreement to end the Middle East conflict receded. European stocks were largely flat, and Wall Street futures indicated gains of 0.1% after Asian stocks fell due to concerns over the outlook for semiconductor firms. South Korean shares ended the day nearly 6% down, their largest one-day decline in three weeks. Investors are worried about inflation and government debt, which is partly due to the Iran War pushing up oil...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets The bellicose rhetoric and energy prices rose on Monday, just as the markets were beginning to think that the Iran conflict had reached an impasse. Brent crude reached $91 per barrel over night as Iranian officials spoke of shifting into a "fully offensive" mode and maintaining a tight grip on Strait of 'Hormuz. Below, I'll go into more detail. Check out my most recent column to see why financial officials still worry about the sustainability and growth of the AI market, despite Wall...

The selloff of U.S. government debt picked up speed?on?Tuesday, pushing the 30-year 'Treasury yield?to a two-decade high. Fears?of a Middle East war escalation fueled inflation fears and pressured the stock market. Brent crude oil prices rose for a third day in a row after Washington and Tehran's latest signals crushed hopes that the conflict would be resolved soon. The market's response shows that tensions remain high in the Middle East, and a new escalation could have a ripple effect on oil, bonds, currencies, and stocks. The market's reaction has also shaken the calm that had been established after the recent...

The price of oil rose on Tuesday, as the prospect of a deal to end the Middle East conflict seemed further out of reach. Iran said it would adopt a more aggressive stance while the U.S. refused to extend a ceasefire. This increased concerns about the energy supply. A senior Iranian official said on Monday that Iran would adopt a "fully offensive' military posture as efforts to negotiate an end to the U.S. war have stalled. Washington has also ruled out the extension of a temporary ceasefire. The progress made towards peace talks, and the resumption of oil-tanker traffic in...

After a string of weak?U.S. economic data, U.S. stock prices were mixed and the dollar dropped to its lowest level since June. After a series of weak economic reports, including a surprise drop in retail sales the?markets? reduced their bets that a Fed rate hike was imminent. The 30-year Treasury yields meanwhile rose to their highest levels since 2007. Concerns over the U.S. Fiscal trajectory, combined with heavy AI related corporate debt issuance, drove yields higher. The S&P 500 dropped 0.11%, while the Nasdaq Composite gained 0.08% thanks to a positive revenue forecast by AI lab Anthropic. The Dow Jones...

Asian shares edged higher on Monday, led largely by Chinese stocks, ahead of important economic data. Investors kept a watchful eye on oil prices, after a large gain last week, amid a deadlock in the Gulf conflict. After a string of weak data, including a surprise drop in retail sales and a lackluster run of economic reports, markets have given up on betting that the Federal Reserve will soon raise interest rates. According to CME Group's FedWatch, a rate hike in the next month has been priced at 30%. This is down from 50% a week ago. The broadest MSCI...

Ukraine announced on Saturday that its long-range attacks had 'hit a Russian airfield and a rocket centre, which Kyiv claims supports a nascent Starlink satellite internet network in Russia. Volodymyr Zelenskiy, the president of Ukraine, said that Flamingo missiles had struck the rocket center, located about 900 kilometers (560 miles), from Ukraine's borders, as part Kyiv’s campaign to pressurize Moscow to end its four-year long war by targeting deep within Russia. "It's important to reduce Russia's military potential." In a blog post, he stated that peace is needed in Russia and it must be visible through damage to'specific facilities. He...

Investors began to question the effectiveness of the Treasury's support on Thursday, as bond prices slid and stocks were under pressure. The yield on the 30-year U.S. Government Bond rose by 3.05 basis points, to 5.2235%. It had fallen to 5.1765% a day earlier. This was after the Treasury announced that it would buy back additional longer-dated bonds. Prices and yields are inversely related. The bond market was closely watching the moves to see if they were able to stop a downturn that had sent shockwaves through multiple asset classes. The MSCI global stock index fell for four straight sessions,...

Rae Wee gives us a look at what the European and global markets will be like today. The markets were calmer on Thursday after the U.S. Treasury put a stop to an ugly bond selloff that occurred this week. However, the respite could be short-lived. U.S. - Treasury yields in Asia were stable, while Japanese government bonds yields dropped after the U.S. Treasury announced that it would double the buyback size for 10- to 30 year Treasury debt securities up to at least 4 billion dollars per operation. Scott Bessent, the U.S. Treasury secretary, intervened again in the currency markets...

The yields on U.S. government bonds eased slightly Tuesday, but longer-dated yields remain near multi-year peaks after the 30-year Treasury yield earlier reached a level that had not been seen since 2007. Fears of a Middle East conflict escalating fueled inflation fears and weighed heavily on stocks. The Nasdaq Composite fell by 1.33%. The Dow Jones Industrial Average dropped by 0.22%. And the S&P 500 was down 0.69%. Oil prices reached their highest level in over three weeks, after Iran announced that it would take a more aggressive stance. The Strait of Hormuz will remain closed and the United States...

The yields on U.S. government bonds eased a little bit on Tuesday. However, longer-dated yields remain near multi-year highs. Earlier in the day, the 30-year Treasury yield had reached a level that was not seen since 2007. Fears of an escalating Middle East?conflict have fueled inflation concerns and put pressure on stocks. Oil prices rose for the third consecutive session as prospects of a U.S. - Iranian peace deal dimmed. Tehran announced it would take a more aggressive stance, and Washington said that it wouldn't extend a ceasefire agreement. U.S. crude climbed 0.82%, to $85.17 per barrel. Brent was up...

The United States' long-term borrowing costs to Japan and Germany reached their highest level in decades on Tuesday as new inflation concerns added to the nagging concern about the fiscal pressures that are facing some of the largest economies around the world. The 30-year bond yields of the United States - the world's most important government bond market - hit their highest level since 2007. Oil prices -- which are up 50% this year -- have risen back above $90 per barrel, causing inflation fears as U.S. - Iran peace hopes fade. In Japan, fears of inflation and the expectation...

The cost of borrowing long-term from the United States for Japan and Germany reached their highest level in decades on February 2, as new inflation concerns?added lingering fears about fiscal pressures in major economies. This dealt bond markets a "fresh blow". The 30-year bond yields on the United States' government bond market, which is considered to be one of the most important in terms of systemic importance, reached their highest level since 2007. Oil prices rose above $90 per barrel, causing inflation fears as U.S. peace hopes with Iran faded. In Japan, the fear of inflation and expectations that Bank...

Oil prices rose and bond yields increased, reducing the gains in stocks as Asian trading began on Tuesday. A truce between Iran and the United States expired and Tehran announced it would shift to a more "fully offensive" military posture. MSCI's broadest?Asia-Pacific?shares index outside Japan rose 0.8%. The South Korean KOSPI rose more than 3%, as Seoul's market returned from a holiday. The Nikkei fell by 0.3% while S&P500 e-minis futures were flat. The yield of the 10-year Treasury bond in the United States was up by 0.8 basis points at?4.728%. The 30-year counterpart was up 0.6 basis points at...

Saudi Aramco offers crude oil outside the Strait of Hormuz through private negotiations to some asian refiners, according to two sources familiar with the matter. This is similar to the strategy adopted by Abu Dhabi National Oil Co of United Arab Emirates. Sources said that Aramco was in rare talks with buyers about supplying Arab Medium and Arab Heavy crude via STS transfers near Fujairah, UAE. One of them stated that the cargoes would be loaded in September. It wasn't immediately clear how Aramco transported its cargoes to Fujairah. These offers are just the latest indication that 'crude supplies are...

On Monday, global shares rose and the dollar dropped to its lowest level in a year after a series of'soft' U.S. data, which included an unexpected decline?in retail sales, led markets to reduce their bets on an impending rate hike by the Federal Reserve. According to CME Group's FedWatch, a hike in the next month has been priced at 30%. This is down from 50% a few weeks ago. STOXX, a benchmark index of 600 large European companies, rose 0.04% on the back of resource stocks, as gold prices increased. In the US, Nasdaq and S&P futures both gained 0.5%....

In its most recent tender, Abu Dhabi National Oil Co. sold at least 14,000,000 barrels of'spot crude' to Asian refiners for premiums. ADNOC had issued its eighth tender?since? the start of June, as the state oil company of the United Arab Emirates continued to try and move crude produced within the Strait of Hormuz despite persistent shipping delays. ADNOC has now sold more than 108 million barrels of crude oil through eight different tenders. Sources said that Japanese refiner Cosmo Oil purchased 2 million barrels on Upper Zakum crude at a price premium of $10.50 per barrel over Dubai's benchmark...

The global?stocks were hovering around record highs Friday. They are set to make a third consecutive weekly gain, after benign inflation figures tempered expectations of a 'U.S. Rate hikes are expected to take place next month despite the faltering of talks to end the Middle East war. The price of oil and gas was still on track for a large weekly gain, as the impasse in the peace talks continued, while the U.S. threatened a stepped-up economic pressure against Iran, which included extending the naval blockade. Investors are not showing any signs of panic. This week, short-dated bond rates have...

China's?exports of electric trucks to other Asian nations have soared. This is in addition to an increase in domestic sales, as the?higher fuel costs as a result of the Iran War accelerate regional electrification. China's rapid adoption of etrucks - from lighter vehicles to tractors-trailers - has shielded the 'world's largest auto market' from the conflict. Other countries are now scrambling for a chance to catch up. China's heavy etruck exports have more than doubled in the last four months since the U.S. and Israel started the war, on February 28. They now total 16,823 vehicles. The majority of the...