Crude Oil

Gold reached a new record high and global stocks dropped for the second consecutive session on Thursday, following the latest tariffs imposed by the Trump administration in the United States that extended the trade war to automobiles. Trump announced on Wednesday 25% tariffs on imported vehicles and auto parts. The Nikkei 225 and KOSPI, the South Korean stock index, were both affected. Many countries around the world threatened to impose retaliatory taxes. U.S. stock prices fluctuated between gains, losses and a decline in automakers. However, electric vehicle manufacturers Tesla and Rivian rose as their production is based within the U.S....

Gold and global stocks hit record highs on Thursday, following the announcement of new tariffs by the Trump administration in the United States that extended the trade war against auto imports. Trump announced late Wednesday that he would impose 25% tariffs on imported vehicles and auto parts made abroad. The tariffs are scheduled to go into effect on April 3rd. The Nikkei 225 and KOSPI in South Korea were affected by this. Many countries around the world threatened to impose retaliatory taxes. U.S. stock prices fluctuated between gains, losses and a decline in automakers. However, electric vehicle manufacturers Tesla and...

Gold and global stocks both hit record highs on Thursday, following the latest tariffs imposed by U.S. president Donald Trump that extended the trade war into auto imports. Trump announced late Wednesday that 25% of all imported vehicles and auto parts made abroad would be subject to tariffs. These are scheduled to go into effect on April 3rd. The Nikkei and KOSPI stock exchanges in Japan and South Korea were affected by this. The world is a big place. threatened Tariffs in retaliation U.S. stock prices recovered from initial losses and remained roughly unchanged, while automakers plunged. Ford and General...

The oil prices rose on Thursday due to concerns over tighter supply globally after the U.S. threatened tariffs on Venezuelan buyers. Market players were also weighing the impact of Donald Trump’s latest announcement about auto tariffs. Brent crude futures rose 14 cents or 0.2% to $73.93 per barrel. U.S. West Texas Intermediate Crude Futures rose by 14 cents or 0.2% to $69.79 per barrel at 0049 GMT. The price of oil rose by around 1 percent on Wednesday. This was due to government data that showed U.S. crude and fuel inventories had fallen last week and the threat from the...

On Wednesday, global stocks fell for the first session in three and the U.S. Dollar resumed its rise as investors awaited President Donald Trump's next announcement on tariffs. Trump had scheduled a presser for 4 pm EDT (20:00 GMT), and confirmed recently that the auto tariffs would be applied to cars. The technology sector, which dropped by 2.46%, weighed heavily on Wall Street. The three major U.S. indices all ended a streak of three consecutive gains. In recent days, stocks showed signs of bottoming after being under pressure because of uncertainty about the tariff outlook. This could slow down the...

The U.S. Dollar remained a bit erratic as markets awaited clarification on President Donald Trump’s trade policy in advance of the next round of tariffs. The White House gave traders some hope that they could get some flexibility after Trump announced on Monday that some levies wouldn't be collected by the deadline of April 2, and certain countries would receive breaks. He did not provide any further details. Trump also opened a second front in his trade conflict by directing 25% secondary tariffs to any country buying oil or gas from Venezuela. This initially drove oil prices up, but was...

Veniamin Knratiev, the region's governor, said that a fire at a Krasnodar oil depot caused by a suspected Ukrainian drone strike was extinguished almost a week after its start. The Kavkazskaya Depot is only a few kilometers from the Kropotkinskaya Pumping Station of the Caspian Pipeline Consortium. This station was also struck by a drone in the last month. This sparked fears about a possible drop in global oil supply. The depot is crucial for Russia's exports of oil via CPC. CPC transports mainly Kazakhstan's exports of oil. Kondratiev, a Telegram user, said that two reservoirs in the facility had...

Alaskan state officials, including the governor and energy officials, visited South Korea to discuss energy collaboration on Tuesday. This was in response to President Donald Trump's call for U.S. ally countries to join an stalled pipeline project. The American Chamber of Commerce in Korea said that the Governor Mike Dunleavy delegation included officials from the Glanfarne Group, which is a partner in a project to transport natural gas from Alaska's remote northern region via a $44-billion pipeline, and the state agency for gas. Dunleavy and South Korean Industry Minister Ahn duk-geun discussed energy issues including the Alaska LNG project and...

The oil prices were barely affected on Tuesday, as investors considered the impact of U.S. Tariffs on countries that buy oil and gas from Venezuela and the effect of tariffs in other industries like automobiles. Brent crude futures rose 1 cent to $73.01 per barrel at 0121 GMT. U.S. West Texas Intermediate Crude rose 1 cent to $69.12. Both benchmarks rose more than 1% after U.S. president Donald Trump announced that a 25% tax would be levied on countries that import oil and gas out of Venezuela. Investors are concerned that Trump's tariffs will slow down the economy and reduce...

Global stocks rose on Monday, led mainly by gains in U.S. shares, while U.S. Treasury Yields increased after reports that President Donald Trump’s tariff plan could use a more focused approach than was previously believed, increasing risk appetite. He said that automobile tariffs will be implemented soon. He also stated that he might give tariff breaks to "a number of countries", but did not provide any details. Sam Stovall is the chief investment strategist of CFRA Research. He said that investors are feeling a slight relief but are also cynical as to how long it will last. The causes of...

Reports that President Donald Trump may have used a more targeted tariff plan than was previously believed, which increased risk appetite, led to a rally in global stocks on Monday. The Wall Street Journal, Bloomberg and other media outlets reported that Trump's administration will likely exclude a number of sector-specific levies from the April 2 reciprocal tariffs. Sam Stovall is the chief investment strategist for CFRA Research. "Investors have a slight relief but are also cynical as to how long it will last." The causes of this manufactured corrective have not disappeared. Tariffs, and the potential impact that tariffs may...

Global stocks rose on Monday, driven by gains in U.S. shares, while U.S. Treasury Yields increased after reports that President Donald Trump’s tariff plan could use a more focused approach than was previously believed, increasing risk appetite. The Wall Street Journal, Bloomberg and other media outlets reported that Trump's administration will likely exclude a number of tariffs specific to certain sectors while imposing reciprocal levies by April 2. Peter Andersen of Andersen Capital Management, Boston, said that investors are defaulting to being very concerned about any changes proposed by the current administration. In recent weeks, the stock market has been...

The U.S. Dollar remained tepid as markets awaited clarity about President Donald Trump's policy on trade ahead of next week's new tariffs. The White House gave traders some hope that it would be flexible after Trump announced on Monday that some levies wouldn't come by the deadline of April 2, and certain countries would receive breaks without giving further details. Trump also opened a second front in his trade conflict by directing 25% secondary tariffs to any country buying oil or gas from Venezuela. This initially sent oil costs higher, but its impact was somewhat offset by relief from Black...

The financial markets started the week with a mixed bag. U.S. stocks futures rose, but the dollar weakened ahead of the coming week. This was due to data, Chinese earnings as well as the threat of steep U.S. Tariff hikes. S&P 500 Futures rose about 0.6% and Nasdaq100 futures increased 0.8% in the morning Asian session. Japan's Nikkei climbed 0.2% and Hong Kong's Hang Seng rose about 0.2% Early trade saw the euro rise 0.2% to $1.0835, after a slight drop last week. The Turkish lira is on the edge of a cliff in emerging markets as investors are uneasy...

Analysts and traders said that Asia's demand for sour crude is expected to rise from the end of the second quarter, as refiners are returning from maintenance. Exxon Mobil has also completed an upgrade to its Singapore refinery which is likely to lead to a higher use of heavy oil. Dubai and Oman will benefit from the increased demand for oil from OPEC+, despite the fact that the group has agreed to increase its production starting in April. Harry Tchilligurian is the head of research for Onyx Capital. He said that after a weaker than expected start to the year,...

Investors awaited the Federal Reserve's rate decision, which was due later that day. Turkish stocks, bonds, and the Turkish lira have all fallen, which has helped boost the U.S. Dollar as a safe-haven currency, following the arrest of President Tayyip Erdoan's principal political rival. The pan-European STOXX 600 Index was flat last session after increasing for three previous sessions. This was boosted by Germany’s revamp of its debt regulations to spend much more on infrastructure and defence. The DAX Index in Germany fell by 0.3% on Wednesday after reaching a new record high. U.S. equity indexes fell on Tuesday, as...

Asia shares rose and global markets tried to rebound after a brutal saleoff. Gold reached a new record as an increase in global trade tensions made investors nervous, causing them to flee into safe-haven assets. Stocks in early Asian trading rose as investors were relieved that a U.S. shutdown was unlikely. Senate Democrat Chuck Schumer had said he'd vote to advance a Republican short-term funding bill and signaled his party's support. U.S. futures for stocks rose in response. The Nasdaq futures were up 0.87%, and the S&P 500 futures were up 0.7%. The FTSE Futures also gained 0.1% and the...

Trade sources reported on Thursday that Saudi Arabia's crude shipments to China, its largest customer, will drop to the lowest level for more than a full year in April. This is partly due to maintenance programs at Sinopec-owned Chinese refineries. Data shows that the OPEC producer, Saudi Arabia, allocated 34 million barrels to its Chinese clients in April, down from 41 millions barrels the previous month. China's drop in demand for Saudi crude oil is despite the Organization of the Petroleum Exporting Countries (OPEC+) and its allies agreeing to continue with their plan to increase production in April. Sinopec intends...

Stocks fell in Asia on Friday, reversing gains made earlier, as concerns about the impact of President Donald Trump’s trade policies surpassed early optimism based on a tepid U.S. inflation reading. The safe-haven Japanese yen rose, and U.S. Treasury yields fell. Crude oil prices fell as well. Hong Kong's Hang Seng fell 1.4% at 0545 GMT and mainland Chinese blue-chips dropped 0.7%. The Nikkei index of Japan gave up gains as high as 1.4% in order to trade flat last week, while Taiwanese stocks dropped by 1.1% and South Korea’s KOSPI fell by 0.4%. The Australian stock benchmark fell 0.5%,...

The euro rose to near 5-month highs Wednesday, as Ukraine was ready to accept a ceasefire lasting a full month. Meanwhile, stocks were thrown into turmoil by the back and forth of U.S. tariffs plans after levies against steel and aluminum imports began. European equity futures jumped by 1.1%, and FTSE Futures rose by 0.5% after news that the U.S. will restore military assistance and intelligence sharing with Ukraine following Kyiv's acceptance of a U.S. proposed ceasefire. In an interview published Wednesday, Sergei Lavrov, Russian Foreign Minister, said that Moscow would avoid compromises which could jeopardize the lives of people,...

Trading sources familiar with the operation of the plant said that Shandong Yulong Petrochemical, China's newest refinedr, is expected to test operate its second crude oil-processing unit by the end of this month. The $20 billion complex will begin full operation in 2025. This will help China increase its crude imports as well as its production of refined products. It would also offset some of the declines caused by a waning Chinese fuel demand, but put pressure on the already thin refinery profits. The refinery is located on an artificial island in Longkou County of the city Yantai. It's the...

After a turbulent week, investors were greeted with calm Friday, after the confusion surrounding U.S. Trade Policy and a global increase in borrowing costs. A steep selloff of bonds subsided and currencies stabilized, although stocks followed Wall Street lower. Overnight, the Nasdaq confirmed that it had been in a corrective phase since its peak in December last year. U.S. stock markets are facing headwinds due to a dimming outlook for growth in the largest economy in the world and uncertainty surrounding President Donald Trump's trade policies. Trump suspended on Thursday the 25% tariffs that he had imposed on most goods...

The euro reached a four-month peak against the U.S. Dollar on Thursday, after the European Central Bank again cut interest rates as expected. Stock indexes also fell as investors assessed the impact of U.S. president Donald Trump's new tariffs. A day after the German Bund yield for 10-years saw its largest rise since the 1990s, the global bond market continued to sell off. Donald Trump, the U.S. president, said on Thursday that Mexico will not be required to pay any tariffs until April 2 on any goods falling under the United States - Mexico - Canada Agreement on Trade. He...

The global money flows are being upended by a historic trade war, the proposed European fiscal bazooka of $1.2 trillion and China's rise as the leader in the tech race. This could be a turning point, with investor capital moving away from the United States. China released more stimulus on Tuesday and pledged to make greater efforts in order to mitigate the impact of a escalating U.S. Trade War. The likely next German government had agreed to the largest overhaul of fiscal policy since the reunification. German bonds plunged in the biggest sell-off in decades on Wednesday as the 30-year...