Crude Oil

Oil prices dropped more than 2% on early Asian trading on Tuesday, after U.S. President Donald Trump announced that he would pause a planned strike on Iran to 'allow for negotiations in order to end the Middle East war. Brent futures for delivery in July fell $3.01 or 2.7% to $109.09 per barrel at 00:01 GMT. Meanwhile, U.S. West Texas Intermediate Crude for delivery in June fell $1.38 or 1.3% to $107.28. In the previous session, both benchmarks reached their highest levels since April 30 and May 5, respectively. The June WTI contract expires Tuesday. Meanwhile, the most active contract...

The major stock indexes were mostly down as technology shares declined?on Sunday, while Brent crude oil prices rose to a 2-week high as investors assessed if there would be any progress in the near future to end the Iran War. Overnight trading, U.S. Treasury longer-term yields had risen to their highest levels in more than a year. Investors are worried that the war in Iran, which began late February, could cause a lasting inflationary crisis. They fear that rising energy costs will lead to higher consumer prices and a rate hike by the U.S. Federal Reserve. Donald Trump, the U.S....

The U.S. Department of Energy reported on Monday that a'record 9.9 millions barrels of oil were shipped from the Strategic Petroleum Reserve in the United States last week. This pushed the total volume of the U.S. Government's emergency stockpile to 374 million barils, the lowest level since July 2024. The Trump administration wants to?release 172 million barrels of oil from the reserve, as?part a global deal to calm down the oil markets after prices?spiked due to the U.S. and Israel's war with Iran which began almost three months ago. In April, the?Energy Department offered approximately?92.5 millions barrels of?sweet crudes and...

The major stock indexes were mostly?assisted as technology shares fell Monday, and oil prices rose following continued concerns over supply disruption due to the Iran 'war. After climbing to the highest level for over a year in overnight trading, U.S. Treasury longer-dated yields are nearly flat. Investors are worried that the war in Iran, which began late February, could bring about a lasting inflationary crisis. On Monday, President Donald Trump announced on social media that he would delay a planned attack on Iran for Tuesday while negotiations continue. He also said that the United States is ready to attack again...

The major stock indexes largely eased on Monday as technology shares fell, and oil prices rose following further concerns over disruptions in supply from the Iran War. In overnight trading, longer-dated U.S. Treasury yields fell after reaching their highest level in more than a year. Investors are worried that the war in Iran, which began late in February, could bring about a long-lasting inflationary shock. Iran sent the United States a new proposal for peace that had terms that were similar to those Washington previously rejected. However, a senior Iranian official said on Monday that Washington's positions have softened on...

On Monday, protests against fuel price increases sparked by the Iran War erupted across several Kenyan cities. This included a nationwide strike on public transport that left commuters stranded and forced some people to walk into work. Transport Sector Alliance announced on Sunday that its member associations' vehicles would cease?operation at midnight to protest the latest price hike, and police would take action against any disruptions. Kenya's Energy and Petroleum Regulatory Authority raised retail fuel costs by up to 23.5% last week, after increasing them by 24.2% a month ago. The conflict in the Middle East is squeezing global oil...

On Monday, protests over fuel price increases triggered by the 'Iran War' erupted across several Kenyan cities. This included a nationwide strike in public transport that left commuters stranded and forced some people to walk into work. Transport Sector Alliance announced on Sunday that its member associations' vehicles would cease operation at midnight to protest the latest price hike, and police have said they will act against any disruptions. Kenya's Energy & Petroleum Regulatory Authority raised retail fuel costs by up to 23.5% last week, after increasing them by 24.2%?last month. The conflict in the Middle East is causing global...

What's important in U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets Bond market crunch meets AI boom The bond market is'spooked' again by rising oil prices, inflation and interest rates, as well as the threat of increased government debt and higher interest rate estimates. The 30-year Treasury bond yields are at their highest level since 2007. Meanwhile, the 10-year Treasury yields are at their highest levels in over a year. Below, I'll go into more detail. Listen to the Morning Bid podcast. Subscribe to the Morning Bid daily podcast and hear journalists discussing the latest...

Gold dropped to a'more than a week low on 'Friday as U.S. Treasury Yields?and -the- dollar rose, and inflation fears due to the U.S./Israel war against Iran reinforced bets on higher interest rates. Gold spot was down 2.3% to $4,555.63 an ounce at 1:19 pm EDT (1719 GMT), after it had hit its lowest price since May 4, earlier in the day. Prices have fallen 2.5% so far this week. U.S. Gold Futures for June Delivery fell 2.7% to $4,560.20. "There were a few reasons for the sell-off in (precious metals). The dollar is strong right now. Not only are...

Investor euphoria about tech stocks was replaced by inflation fears on Friday, and traders bet more that the Federal Reserve would raise interest rates in 2018. U.S. president Donald Trump left China Friday with no significant breakthroughs in trade, or any tangible help from Beijing to end Iran's war. Oil prices rose again on Friday due to uncertainty over a Middle East?deal. This was in addition to the concerns raised by two high-inflation readings earlier this week. S&P 500, Nasdaq and other major stock markets fell on Friday following two sessions of record-breaking gains on artificial intelligence technology stocks. The...

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...

The global share market fell on Monday, as new drone attacks in the Gulf pushed oil prices and bonds yields higher. This stoked inflation concerns in a week where the tech bull will be tested with?earnings by Nvidia. The United Arab Emirates reported that a drone attack caused a fire at a nuclear plant. Saudi Arabia also reported intercepting three drones. The Strait of Hormuz, which is vital to the oil and gas industry in the world, remains closed for all but a small amount of shipping. This is because Tehran wants to formalise control of this waterway. George Lagarias...

Wayne Cole gives us a look at what the future holds for European and global markets. There's a limit on 'wishful thinking. The markets had assumed that the U.S. would?see sense and reach a deal with Iran at any time. Tehran still seems to favor?attack drones and President Trump tweets in ALL CAPS. Investors have realised that the Strait of?Hormuz won't be opening anytime soon. There are still some ships passing through but not as many as the average pre-war of 136 per day. Global inventories are also steadily shrinking. Analysts estimate that 1 billion barrels will be lost by...

Asia share markets fell on Monday, as new drone attacks in Gulf drove up oil prices and bond yields. Meanwhile, the AI boom will be tested this week by the earnings of tech-diva Nvidia. Saudi Arabia intercepted three drones as U.S. president Donald Trump warned that Iran must "act fast" to reach an agreement. The Strait of Hormuz, which used to transport 20% of world oil trade, is still closed to all but the smallest of ships as Tehran attempts to formalise control of this waterway. Capital Economics analysts warned that the closure was draining oil stocks worldwide fast. "Inventories...

As U.S. Treasury yields and the dollar rose, gold fell to its lowest level in more than a week. Meanwhile, inflation fears due to the Middle East conflict reinforced bets on higher interest rates. By 11:40 am EDT (1540 GMT), spot gold had fallen 2.3% to $4,541.91 an ounce. This was its lowest price since May 4. So far, prices are down 3.7% this week. U.S. gold futures for June delivery fell 3.2% to $4,535 "There were a few reasons for the selloff in (precious) metals. The dollar is strong today. Edward Meir is an analyst with Marex. The yields...

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...