Crude Oil

The global stock market was on course for a weekly increase on Friday, as the expectation of rapid U.S. interest rate cuts led to a reduction in borrowing costs worldwide. This would be a relief for stressed bond markets, and drag on dollar. European shares fell 0.2% at the opening of trading, while Nasdaq futures and S&P500 futures dropped 0.1-0.2% after hitting new highs overnight. The MSCI All Country World Index remained on course for a weekly gain of 1.7%. Gold was also on course for its fourth consecutive weekly gain and traded at near-record levels as investor concerns over...

The euro and the dollar were largely unmoved by the European Central Bank's decision to keep interest rates unchanged and the U.S. inflation figures that showed a slight increase. The ECB held its rate at 2% as expected. However, with the ECB reducing its inflation forecasts during its press conference and Christine Lagarde at the helm of it, traders were looking for any indication of when another rate reduction might be coming. The euro moved a fraction lower to $1.1672, after soaring nearly 13% against the dollar in this year. Bond vigilantes have not yet been able to push France's...

The International Energy Agency stated on Thursday that the world oil supply would rise faster than expected in 2018, as OPEC+ member countries increase their output and the supply from outside of the group increases. It also suggested that a surplus may grow by 2026. The IEA, a consultancy for industrialised nations, has said that the supply will increase by 2.7 millions barrels per day in 2025. This is up from 2.5million bpd, as previously predicted. And by a further 2.1million bpd in next year. OPEC+ has added more crude oil to the market since the Organization of the Petroleum...

The oil prices fell a little on Thursday due to a weakening demand in the United States, and a general oversupply risk. This was in contrast to the concerns over the attacks in the Middle East as well as the Russian war in Ukraine. Brent crude futures fell 14 cents or 0.21% to $67.35 a barge by 0433 GMT. U.S. West Texas Intermediate Crude futures dropped 15 cents or 0.24% to $63.53. The benchmark contracts increased by more than $1 on Wednesday, following Israel's attack the day before on Hamas leaders in Qatar. Poland also scrambled their own air defences...

The Energy Information Administration reported on Wednesday that U.S. crude oil and fuel stocks rose during the past week, despite a drop in demand and exports. The EIA reported that crude stockpiles increased by 3.9 millions barrels, to 424.6million barrels for the week ending September 5. This was compared to analysts' expectations of a drawdown of 1 million barrels. The EIA reported that crude stocks at Cushing, Oklahoma's delivery hub, fell by 365,000 barges in the past week. U.S. crude oil exports dropped by 1.1m barrels per day, to 2.8m bpd. Meanwhile, net crude imports increased by 668,000 barrels a...

In a telephone call with her Indian counterpart Narendra Modi on Wednesday, Giorgia Mello praised the "excellent" relations between her country and India. She did not mention U.S. demands that the EU impose tariffs up to 100 percent on Indian imports. Officials claim that Donald Trump, the U.S. president, asked the European Union to impose new import duties on China and India this week as part of an effort to pressure Russia, the main oil supplier for both nations. The Italian Premier's Office said that Meloni, Modi, and their respective offices reaffirmed the commitment to deepening cooperation in trade, investment,...

The U.S. Energy Information Administration released its Short-Term Energy Outlook Tuesday, predicting that the U.S. Natural Gas Production and Demand will both reach record highs by 2025 before declining in 2026. EIA predicted that dry gas production would rise from 103.2 billion cubic feet per day (bcfd) in 2024 to a record 106.6 bcfd by 2025, before slipping to 106.0 bcfd by 2026. This compares to a record of 103.6 bcfd for 2023. The agency also predicted that domestic gas consumption will rise from 90.5 bcfd, a record in 2024, to 91.5bcfd by 2025. It then eases to 91.4bcfd by...

The crude oil market is now expecting a decline in prices. At the largest gathering of the industry in Asia, the discussion was more about timing rather than direction. The outlook for prices is the main topic of discussion and presentations at the annual APPEC Conference. This week was no exception. The market has changed and this year the bull was the least sighted amongst a sea full of bearish participants. The two factors that dominated APPEC, despite the fact that there are many other factors that influence crude oil prices were the decision of OPEC+ not to continue to...

Goldman Sachs forecasted a slight increase in oil surplus by 2026 as improvements in supply in the Americas will outweigh Russia’s downgrade, and any improvement in global demand. The U.S. Investment Bank kept its Brent/WTI 2025 price forecasts unchanged and projected averages for 2026 at $56/$52 per barrel. "Risks in our 2025-2026 forecast are both upside and downside, but slightly skewed to the top," it said. OPEC+ - which includes the Organization of the Petroleum Exporting Countries, Russia, and other allies - agreed on Sunday that oil production would be increased from October, as Saudi Arabia, its leader, tries to...

U.S. stock prices briefly reached record highs before trading lower on Friday. Data showing that U.S. employment growth slowed in August led investors double down on their bets the Federal Reserve would cut interest rates this month by up to 50 basis points. Treasury yields fell on speculation that the Fed would lower rates more aggressively, and the U.S. Dollar dropped, but gold reached a record high, bringing it closer to $3600 per ounce. Equity markets are seen as a positive when interest rates drop, because it could result in lower borrowing costs for business. Gold, which doesn't pay interest,...

U.S. stock prices briefly reached record levels on Friday, after data showed that U.S. employment growth had slowed in August. This led investors to increase their bets the Federal Reserve would cut interest rates this month by up to 50 basis points. Treasury yields fell on speculation that the Fed would lower rates more aggressively, and the U.S. Dollar dropped, but gold reached a record high, bringing it closer to $3600 per ounce. Equity markets are seen as a positive when interest rates drop, because it could result in lower borrowing costs for business. Gold, which doesn't pay interest, tends...

India's finance minister stated on Friday that it will continue to purchase Russian oil if it is economical. This was despite the Trump Administration's decision to impose high import tariffs on Indian products due in part to its energy purchases. India, which is the world's largest purchaser of Russian crude oil, has taken advantage discounts on Russian production to become the biggest buyer. New Delhi says its purchases of Russian crude oil has kept markets balanced. Donald Trump, the U.S. president who is trying to end the Ukraine conflict by brokering a settlement, said that India's oil imports were helping...

A government spokesperson announced that Japan had decided to reduce its price cap for Russian crude oil from $60 per barrel to $47.60 starting Friday to punish Moscow's continued war in Ukraine. This move follows the European Union's decision in July to lower its cap on Russian crude oil to $47.60, as part of their 18th package of sanctions against Moscow. Yoshimasa Haiashi, the Chief Cabinet Secretary, said at a regular press briefing that Japan would also impose further asset freezing and export control restrictions on entities in Russia as part of an international effort to bring peace to Ukraine....

Wayne Cole gives us a look at what the future holds for European and global markets. It was good to hear that. The CPI in the U.S. was a little firmer, but not enough to notice. The prices that feed core PCE were surprising benign. This led analysts to reduce their forecasts from +0.2%m/m to a steady 2,9% for the year. The Federal Reserve is set to begin its easing cycle next week with 25 basis point, but the markets only see a 7% probability of a 50bps. The magnitude of the decline in labour market data would lead you...

EU sources say that the European Union will not impose tariffs on India and China, which are the two main buyers of Russian crude oil, as the U.S. president Donald Trump has asked the bloc to. This week, an EU delegation including the EU's Russia sanction chief flew to Washington to discuss the ways in which the two sides could coordinate sanctions against Russia for its full-scale invasion into Ukraine. Officials have said that Trump has urged the EU, to hit India and China up to 100% with tariffs to put pressure on Russian president Vladimir Putin who depends on...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. Politics is never quiet. In the last few days, British Deputy PM Angela Rayner, and Japanese Prime Minster Shigeru Ishiba resigned. French lawmakers voted Francois Bayrou out of office. The party of Argentinean President Javier Milei suffered a crushing defeat. And Indonesia replaced its longtime finance minister. Investors will be watching to see who President Emmanuel Macron appoints France's 5th Prime Minister in less than 2 years. Macron has not yet called a snap election. He appears to be set on appointing a...

Early Friday, European stocks rose while bond yields on long-dated bonds fell as the markets awaited a rate cut by the United States. This helped to ease concerns over fiscal deficits across various countries. The S&P 500 reached a new record high on Thursday, after the weekly jobless claims data revealed more than expected. Overnight, Asian stocks followed Wall Street's upward trend. At 0752 GMT the MSCI World Equity Index had gained 0.3% for the day, and Europe's STOXX 600 Index was also up 0.4%. Both are expected to finish the week with a slight gain after recovering from the...

Kevin Buckland gives us a look at what the future holds for European and global markets. The markets are in a positive mood as they anticipate that the Fed will continue to reduce rates by this month, and again at year's end. The previous month's payrolls shockingly high reading sparked speculation that the U.S. would have to change its monetary policy quickly. This time, economists expect a slightly higher reading. Fed Chair Jay Powell shocked many last month at the closely watched Jackson Hole Symposium with a keynote suggesting a reduction on September 17, unless data get in the way....

Shipping data revealed that Venezuelan oil exports surpassed 900,000. barrels per day during August, their highest level since November. This was after energy producer Chevron obtained a license allowing the OPEC nation's crude to be returned to the U.S. after a 4-month pause. Last month, the U.S. Treasury Department issued a limited authorization to Chevron, a major partner of Venezuelan PDVSA state company, to export oil and operate in Venezuela, despite the sanctions. According to data from tanker movements, the resumption in Chevron flow to the U.S. and larger cargoes going to Venezuela's main destination, China, resulted in a 27%...

Ankur Banerjee gives us a look at what the future holds for European and global markets Nestle, the maker of Kitkats and a major player in the data world, will be the focus of investors' attention after it abruptly fired its CEO. According to economist estimates, euro zone inflation was likely stable at 2.0% in August. Last week, data from Germany, France Italy and Spain showed that inflation was close to the European Central Bank target. Market watchers expect the ECB to leave its key interest rate unchanged at 2% during its policy meeting in July, and they also expect...

The Russian President Vladimir Putin proposed on Monday that members of the Shanghai Cooperation Organisation (10-nation SCO) sell joint bonds. This would be a significant step in deepening their economic co-operation. Putin floated the idea for a system of joint payments to settle trade at a group summit in China. The SCO was established in 2001 and is the successor of the Shanghai Five (China, Russia, Kazakhstan Kyrgyzstan, Tajikistan) which was formed in 1996. The SCO now includes India, Pakistan and Iran as well as Belarus and Uzbekistan. Putin said to the heads of state of SCO in Tianjin, China's...

The world's stocks retreated from their recent tech-driven record highs, on Friday, ahead of U.S. Inflation data which will feed the Federal Reserve’s increasingly politicised interest rate plans. The traders were looking to square up their positions after a bullish month in global equity markets. This was despite bond market concerns over Donald Trump's decision to fire Fed policymaker Lisa Cook and the renewed political tensions in France. The euro and Europe's STOXX600 share index both fell and were headed for their first weekly loss in four while the 0.6% drops on France's CAC40 and Germany's DAX set them up...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. Investors end a volatile week that was dominated by Federal Reserve drama, Nvidia earnings and Nvidia's quarterly report with the release of an important inflation measure on Friday. This could have a significant impact on the Fed's policy meeting in September. The core price index for personal consumption expenditures, the Fed's preferred inflation measure, is expected to remain unchanged at 0.3% per month. This would put the annual rate of inflation at 2.9%. The data could reveal further evidence that President Donald Trump's...

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Tech stocks have fallen after Nvidia announced earnings that would make any CEO kill for. The chip designer, a leader in AI, beat analysts' expectations and forecast revenue for Q3 that was higher than Wall Street predictions. A miss on data center revenue and concerns over China forecasts caused its shares to fall more than 3% after-hours. Kyle Rodda is a senior market analyst for Capital.com. He said that Nvidia's results were not perfect, but they had to be free of flaws. The...