Crude Oil

A report released by OPEC on Wednesday showed that the world oil supply will match demand in 2020, reflecting the production increase of OPEC+. This is a shift from earlier predictions of a 2026 supply deficit. OPEC+ - which includes the Organization of the Petroleum Exporting Countries (OPEC), Russia, and other allies - has increased its production targets by approximately 2.9 million barrels a day - or about 2.7% of the global supply – since April. The company plans to stop production increases in the first quarter 2026, amid predictions that there will be an oversupply. In a report released...

The oil prices are little changed today after they rose in the previous session. This is because of the expectation that the end of the longest U.S. government shut down could increase demand in this country, the world's largest crude consumer. Brent crude futures fell 8 cents or 0.12% to $65.08 per barrel at 0106 GMT, after rising 1.7% on the previous day. U.S. West Texas Intermediate Crude was down 7 cents or 0.11% to $60.97 per barrel after gaining 1.5% the previous session. The U.S. Republican-controlled House of Representatives is set to vote on Wednesday afternoon on a bill,...

Saudi Aramco's decision to reduce the price of crude oil it sells to Asian refiners in December has been seen as an attempt to gain market share, amid fears of global oversupply. The reduction in Saudi crude oil was lower than the forecasts of Asian refiners. It seems to be a way for the world's largest crude exporter, Saudi Arabia, to remain competitive against other grades while giving it flexibility should China or India reject Russian barrels due U.S. sanctions. Aramco lowered last week its official selling price for its benchmark Arab Light for Asian customers by $1 per barrel...

Asian stocks rose Tuesday, while gold and Nasdaq enjoyed their biggest gains in months on signs that a deal would be reached to end the U.S. Government shutdown. Gold rose by nearly 3% over night and was comfortably above the $4,100 mark in Asia's morning. The Nasdaq gained 2.3%, recovering much of the losses caused last week by nerves about the valuation and profitability for AI firms. South Korea's Kospi also recovered from last week's losses and gained 2.1% early in trade. Japan's Nikkei increased 0.7%. Hong Kong and China's markets opened higher. S&P futures rose 0.1%. The Senate cleared...

MSCI's global equity gauge rose 1.4% on Sunday, while government bond yields increased modestly. This was on bets that the U.S. shutdown would soon come to an end. On Sunday, the U.S. Senate advanced a measure that would end the shutdown. The shutdown is now in its fourth day and has caused federal workers to be sidelined, food aid to be delayed, air travel to be obstructed, and the government's economic data not released. The House of Representatives must approve the bill if the Senate passes it. This would fund the federal government until the end of January and include...

MSCI's global equity index rose more than 1% Monday, while government bond yields increased on bets the U.S. shutdown would soon end. This would allow official data releases to resume and provide more clarity about the state of economy. On Sunday, the U.S. Senate advanced a measure that would end the shutdown. The shutdown is now in its fourth day and has caused federal workers to be unable to work, food aid delays, air travel problems, and the halting of economic data released by the government. Kevin Hassett, White House economist, had said earlier that day in an interview that...

The dollar was stable and government bond yields were rising. Global shares rose Monday on the back of optimism that a resolution to a historic U.S. shutdown is in sight. On Sunday, the U.S. Senate advanced a measure that would reopen federal government offices and end a shutdown of 40 days. The shutdown has caused federal workers to be unable to work and food aid delays and snarled travel. In a procedural motion, the Senate advanced a bill passed by the House. The amended version will fund government operations until January 30, and includes a package of 3 full-year appropriations....

Sources in the trade said that two Indian state refiners purchased 5,000,000 barrels of crude from spot markets through tenders, as they continue their search for alternatives to Russian supplies. Hindustan Petroleum Corp. has purchased 2 million barrels of each U.S. West Texas Intermediate and Abu Dhabi Murban crudes for arrival in January, according to reports. Mangalore Refinery and Petrochemicals Ltd purchased one million barrels Basra Medium Crude for delivery between January 1-7, according to the company. It was not immediately clear who the sellers were or what their prices were. Indian refiners have been looking for alternatives since U.S....

On Monday, global shares rose in Asia amid optimism that the historic U.S. shutdown may be nearing an end. Meanwhile, the dollar continued to suffer losses from the previous week. On Sunday, the U.S. Senate moved towards a vote to reopen the federal government. This came a day after Senate majority leader John Thune announced that bipartisan discussions in the chamber had taken a positive direction. Early trade saw Nasdaq 500 futures rise 0.5%, while S&P futures were up 0.8%. The Nikkei, Japan's stock market index, rose 0.6% and MSCI's broadest Asia-Pacific share index outside Japan gained 0.5%. Charu Chanana...

Investors worried about the sustainability and growth of artificial intelligence stocks, while U.S. Treasury rates dipped. The Nasdaq has fallen about 3% this week. Chip stocks and other tech-related shares have also been among the worst performers. As optimism about artificial intelligence drove markets to new highs, the Nasdaq gained more than half since April when U.S. president Donald Trump announced tariffs. The Financial Times, however, reported earlier this week that Nvidia CEO Jensen Huang had warned the U.S. about China's potential to beat it in the AI race. We're still seeing the AI selloff after our comments... about China...

The Russian rouble gained against the U.S. Dollar on Friday, after the central banks stated that the exchange rate dynamics do not carry inflationary risks. In addition, the rally of the rouble this year is already reflected in the prices. At 1215 GMT, the rouble had gained 0.36% against the dollar and lost 0.1% against the yuan at the Moscow Stock Exchange. Minutes of the central bank's October 24 meeting were released on Thursday. The minutes stated that its tight monetary policies are responsible for the rally of 2025 in the rouble. According to the bank, the strengthening of the...

Investors became uneasy over the extent of the artificial intelligence rally, and yen and bonds were stable. S&P 500 and Nasdaq futures were up about 0.3% by the afternoon in Asia. This was after a Nasdaq drop of 1.9% on Thursday. The world's largest tech index has fallen 2.8% this week, and if that trend continues, it will be the biggest drop in a single week since April when tariffs were first announced. Since then, the Nasdaq index has gained over 50%. European futures and FTSE Futures both fell by 0.3%. Japan's Nikkei dropped 1.2%, resulting in a loss of...

Several sources familiar with the situation said that Saudi Arabia will export to China at least 36,000,000 barrels of crude, a slight decrease from the previous month. As some Chinese refineries prepare for maintenance, and independent refiners wait for Beijing's 2026 import quotas, the expected drop in oil supply for the second consecutive month from the top oil exporter to world's biggest importer comes at a time when many refineries in China are preparing for maintenance. Sources said that one of the Chinese buyers has reduced their December volume because they have already lifted the majority of their full-year contract...

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. The U.S. Government is about to reopen, restoring potential pay for unpaid federal employees and ending the drought of economic data which has left the Federal Reserve virtually blinded for more than one month. The latest sign that normalcy is returning could be Congressmen taking advantage of the free publicity. Thousands of flights have been delayed or cancelled due to the shutdown. Some Congressmen are carpooling with their colleagues, or taking a 16-hour Harley Davidson across the country to return to Washington D.C....

Japan condemned as "absolutely inacceptable" the extension of a Russian entry ban to another 30 citizens, including a spokesperson for the foreign ministry, following Tokyo's sanctions against Moscow's nearly 4-year-old conflict in Ukraine. Japan, following similar moves made by Western nations in September, had imposed additional sanctions on Russian individuals, companies and other entities, as well as lowered its cap on Russian crude oil at sea. The Russian Foreign Ministry published a list on Tuesday of Japanese who are now facing an "indefinite" ban. Toshihiro kitamura was added to the list, along with journalists and academics. Minoru Kihara, the Chief...

The U.S. Congress appeared to be on track to end the shutdown, and traders were looking for guidance in the absence any clues from the government data services. MSCI's broadest Asia-Pacific index outside Japan rose 0.1% early in trading, as House of Representatives members prepared to vote on legislation that would restore funding for government agencies and bring an end to the shutdown which began on October 1, and is the longest in U.S. History. The Australian stock market led the gains with a 0.2% gain as lithium mining stocks drove commodity stocks up, while Japan’s Topix rose 0.6%. Analysts...

The dollar held steady on Tuesday as global shares rose, boosted by the relief that the U.S. shutdown will soon be over. However, gains were moderated by persistent concerns about the valuations of the technology sector. European shares rose early in trading. The gains were led by London's FTSE 100 which reached record highs. This was due to the pound falling after British employment data gave investors greater confidence that the Bank of England would cut rates next month in order to boost growth. On Monday, the U.S. Senate approved a deal that will restore funding to the U.S. government...

Tom Westbrook gives us a look at what the future holds for European and global markets. The longest U.S. Government shutdown in history appears to be nearing an end. Traders are riding a wave that started late last week. The Senate has approved a compromise which would restore funding to the U.S. Government. The bill now heads to the House where Speaker Mike Johnson said he wanted to pass it by Wednesday. The Nasdaq and gold have both posted their best gains for months. Gold is trying to regain the momentum it had in October, when it reached record highs....

Investors worried about the sustainability and growth of artificial intelligence stocks, while U.S. Treasury rates continued to decline. An index of semiconductors fell 4.5% on Friday. The Nasdaq has dropped more than 4% this week, and is on course to have its largest weekly percentage decline since late March. Donald Trump, the U.S. president, announced his tariffs in April. Since then, the Nasdaq stock has gained over 50%. After our comments, we're still seeing the AI market sell off. The AI race is on. There's a recalibration in multiples, and that's the main weakness," said Michael O'Rourke. Chief market strategist...

Investors worried about the sustainability of an artificial intelligence rally led to a fall on Friday in tech-heavy markets. The fact that China's trade data was weaker than expected also shows how much President Donald Trump has been hit by his tariffs. STOXX, a benchmark index of 600 large European companies, fell 0.17% early Friday morning. Meanwhile U.S. stocks were set to open brighter with S&P futures and Nasdaq futures both up 0.3% after a Nasdaq drop of 1.9% on Thursday. The world's largest tech index has fallen 2.8% this week, and if that trend continues, it will be the...

Tom Westbrook gives us a look at what the future holds for European and global markets. The tech stocks are headed for a shaky finish in what could be the biggest market decline since the turmoil around U.S. Tariffs seven months ago. Softbank Group shares, the Japanese investment conglomerate known for its high-risk and high-reward technology bets, are down by around 20% this week, the largest one-week decline since the pandemic. The Nasdaq has fallen more than 2% in this week, and futures have been under pressure during the Asia session. Japan and South Korea, which are tech-heavy markets, fell....

According to documents and shipping data from the state-owned firm PDVSA, Venezuelan oil exports fell 26% in October to 808,000 barrels a day as its stocks decreased and it imported fewer volumes of diluents for exportable crude grades. Exports from the OPEC nation reached a 5-year high in Septembre, after being boosted in part by a stable crude oil production of around 1.1m bpd. Also, robust imports of naphtha and light crude - mainly from Russia – earlier in the year were made to reduce its heavy oil output. The data and documents revealed that imports dropped to 41,000 bpd...

The dollar was near its three-month-high versus the Euro due to the fading expectations of a large U.S. interest rate cut. Amazon shares rose more than 4% after the multi-year, $38 billion Amazon OpenAI deal. As expected, the Federal Reserve cut interest rates last week. Jerome Powell, the chair of the Federal Reserve, said that another rate cut in December is "not a certainty", contrary to what investors believed. On Friday, some Fed officials expressed their dissatisfaction with the central banks decision to lower rates. Meanwhile, influential Fed Governor Christopher Waller argued for further policy easing in order to support...

Ankur Banerjee gives us a look at what the future holds for European and global markets The markets are still recovering after a week of action packed events that have left the risk momentum intact. This week, the focus has shifted on a few private economic data that could shed light on the state of the U.S. labor market. The U.S. government shutdown is expected to continue, and there will no longer be any economic data from the government. So, no nonfarm payrolls, no JOLTS job openings. Investors will instead analyze private employment data provided by ADP in order to...