Crude Oil

According to a source involved in the proposal as well as a refinery executive, Pakistan may import crude oil for the first to time from the United States to counterbalance a trade deficit that led to higher U.S. duties. As President Donald Trump's import duties shake economies and markets, countries are scrambling for ways to reduce their U.S. duty burdens. This includes buying more U.S. gas and oil. A government source involved in the proposal made to the Prime Minister to purchase more U.S. crude said, "It's one of the products that are being reviewed before a delegation leaves for...

The oil prices rose in the early hours of trading on Tuesday. This was due to new tariff exemptions proposed by President Donald Trump, and an increase in crude oil imports from China in anticipation that Iranian supply would be tighter. Brent crude futures rose 27 cents or 0.42% to $65.15 a barrel at 0046 GMT. U.S. West Texas Intermediate crude also gained 26 cents (0.42%) to $61.79. Trump said that he is considering a change to the 25% tariffs on imports of foreign autos and auto parts from Mexico, Canada, and other countries. The vacillating U.S. policies on trade...

China's imports were low in the first quarter. The challenge is to determine whether this was due to temporary factors, or a deeper economic malaise. In the first quarter of 2025, the four biggest commodity imports - crude oil, coal, iron ore and copper - all fell compared to 2024. The soft imports can be explained by the fact that the second largest economy in the world is still trying to gain momentum for economic growth. This task is made more difficult by the trade war escalating by U.S. president Donald Trump. This ignores a number of factors that are...

Chris Wright, the U.S. Secretary of Energy, told reporters on Sunday in Riyadh that the United States and Saudi Arabia would sign a preliminary cooperation agreement regarding the kingdom's plans to develop a nuclear civil industry. Wright, who met earlier with Saudi Energy Minister, Prince Abdulaziz bin Salman, said Riyadh was on "a path" to reach an agreement for Riyadh to collaborate on developing a Saudi nuclear civil programme. Wright, who was on his first trip to Saudi Arabia as secretary, as part of a tour of the Gulf energy producing states, stated that a more detailed memorandum about the...

Shuntaro Sayuchi said that the pain was a 10/10. His appendix, not his portfolio of Japanese stocks, which he manages out of San Francisco in California. The truth would come out just as Matthews Asia's colleagues were on the phone to plot a course for the $7 billion asset management firm through an intensifying market downturn. Takeuchi said, "I was on the conference call just two minutes before surgery." The nurse asked: "Do you have to be here?" Tokyo's Nikkei index was heading for a 4% decline on Wednesday, and global equity markets were losing trillions of dollars, the biggest...

The benchmark 10-year U.S. Treasury Yields recorded their largest weekly increase in more than 20 years on Friday. Meanwhile, the dollar fell in a turbulent, trade-war-driven week. Gold prices reached another record on Friday, after Beijing raised its tariffs against U.S. goods to 125% in response to President Donald Trump's decision. Investors have been thrown into a wild swing this week after Trump announced sweeping tariffs. Still, the major U.S. indexes rose by more than 1% in one day as the banks began the earnings season for the first quarter. Susan Collins, the president of the Boston Federal Reserve, also...

As a turbulent week came to an end, U.S. Treasury rates rose to their highest level in two months on Friday. The 10-year rate was also on course for its biggest weekly rise in decades. U.S. indexes rose by more than 1%. Bank shares also increased following a string of positive earnings. Susan Collins, the Boston Federal Reserve president, also gave assurances that the Fed was prepared to maintain financial markets if necessary. Gold prices reached another record after Beijing raised its tariffs against U.S. goods to 125% in response to President Donald Trump's decision. Since Trump announced his sweeping...

Valero Mexico announced on Friday that the tax authority of the country had informed it that they were "momentarily suspended" from the list of motor fuel importers. However, Valero Mexico stated that it is cooperating in an investigation. Valero Mexico, one of Mexico's largest private importers and exporters of gasoline and diesel said that the permit is valid until 2038. Mexico, a major crude oil producer, imports gasoline and diesel in order to meet its national motor fuel demand. This is because the state-owned Pemex company struggles to refine the heavy sour refined crude that it pumps. Mexico's tax authority...

The 10-year Treasury yields rose on Friday as the global trade conflict continued to rage. Meanwhile, the U.S. Dollar fell to its lowest level in over a decade when compared with the Swiss Franc. Gold prices have reached another record high. U.S. stocks indexes rose by more than 1%. Bank shares also increased following a largely positive earnings report. Beijing raised its tariffs against U.S. goods to 125% on Saturday, retaliating against President Donald Trump's decision. Since Trump announced his sweeping tariffs in April, the markets have been rocked. Tim Ghriskey is a senior portfolio strategist with Ingalls & Snyder,...

Shuntaro Sayuchi said that the pain was a 10/10. His appendix, not his portfolio of Japanese stocks, which he manages out of San Francisco in California. The truth would come out just as Matthews Asia's colleagues were on the phone to plot the $7 billion asset management firm's course through a raging market crash. Takeuchi said, "I was on the conference call just two minutes before surgery." The nurse asked: "Do you have to be here?" Tokyo's Nikkei index was heading for a 4% decline on Wednesday, and global equity markets were losing trillions of dollars, the biggest dollar value...

The U.S. Dollar eased, and the gold price hit a new record high as China raised its tariffs against U.S. Imports. A brutal week in market swings came to an end. Investors remain nervous about further bond liquidations, and the U.S. Bond sell-off has resumed. Prices for 10-year Treasury bonds have eased while yields (which move in the opposite direction to prices) are on track for their largest weekly increase in over 43 years. Investors digested reports showing that U.S. consumers' sentiment declined sharply in April, and another report showing unexpectedly lower U.S. producer prices in March. The results of...

Venezuela's National Assembly passed on Thursday a decree by the government of President Nicolas Maduro to declare an economic emergency as a response to U.S. tariffs and sanctions. In March, Donald Trump's administration began to suspend authorizations of oil companies that work with Venezuelan state-owned PDVSA. They also imposed secondary tariffs against crude oil and natural gas exports. Maduro issued the decree on February 2, citing constitutional authority to declare states or exceptions, suspend constitutional protections, and impose an alarm state during national emergencies. Delcy Rodriguez, Vice President and Minister of Oil during the presentation of this document, stated that...

Data released on Monday showed that China's crude imports rose sharply in March compared to the previous two month and nearly 5% compared to a year ago. This was due to an increase in Iranian oil as well as a rise in Russian oil deliveries. According to records of customs, March imports totaled 51.41 millions metric tons. This is equivalent to 12.1 million barrels per a day. It was the highest level since August 2023. This is an increase from 11,55 million bpd, in March 2024, and 10,38 million bpd during the period of January-February. In March, independent refiners stocked...

The dust has settled after a brutal week, tempered by President Donald Trump's tariff suspension. Global investors have made their point loudly and clearly: the market turmoil is here to remain. Trump announced on Wednesday that he would lower temporarily the heavy duties imposed recently on dozens countries, while increasing pressure on China. The S&P 500 index jumped nearly 10% on Friday, its largest one-day gain since October 2008. On Thursday, Japanese stocks soared 9% while European shares are set to have their best day since the year 2020. Analysts and investors said that the de-risking of U.S. market would...

The global markets were hammered on Wednesday, as President Donald Trump's 104% tariffs against China went into effect. A savage sale of U.S. Bonds sparked concerns that foreign funds are fleeing U.S. Assets. The markets have been roiled by a crisis of unprecedented volatility this week, with stocks losing trillions in value and commodities and emerging market markets being hit hard. The dollar and U.S. Treasuries, the two mainstays of the global financial systems, were at the epicenter of Wednesday's rout. Many fear that Trump's tariffs are so severe they will trigger a recession, forcing the Federal Reserve to cut...

The U.S. stock market indexes fell on Tuesday, as the United States announced that 104% of import duties from China would take effect shortly after midnight. However, the euro and European equity futures rose following reports that Germany’s political parties had reached an agreement on a coalition. Investors were optimistic earlier in the morning that Washington would be willing to negotiate some of its aggressive trade tariffs. The Trump administration is also It is important to begin discussions with other trading partners that are being targeted by Donald Trump's tariff plan. Germany's NTV reported Germany's conservatives under chancellor-in-waiting Friedrich Merz...

On Monday, the price of Russia's ESPO blend oil fell below $60 per barrel Western cap for the first ever time as Brent international benchmark dropped to its lowest levels in many years. Calculations based on data from three trading sources showed this on Tuesday. Brent futures dropped $1.37 or 2.1%, to settle at $64.21 a barrel on Monday. This is the lowest price since April 2021. According to three traders who were involved in the market for ESPO blend oil, the price of the grade was a few dollars below $60 per barrel at the Kozmino port loading basis....

The oil market fell around 3% Monday, its lowest level since 2021. Most commodity markets also declined including metals, coffee and coffee beans as concerns about the demand for raw materials grew due to the intensifying US-China trade war. The gold price, which reached a record high last week, fell as well amid the wider market decline. Wall Street banks warned of a high probability of recession as President Donald Trump did not show any signs of backing down from his tariff plans. "Commodities have been hit by these worries over growth and demand that are related to tariffs." Ole...

The financial markets were gripped with recession fears on Friday as stocks continued a punishing selloff in response to U.S. President Donald Trump’s sweeping tariffs. This helped drive a rally for U.S. Treasuries, and supported gold near its record high. Wall Street stock prices have suffered their worst performance in 24 hours, since the COVID-19 Pandemic. Investors are struggling to catch their breathe. After Trump announced Washington's most severe trade barriers in over 100 years on Wednesday, investors scrambled for safe havens such as government bonds, yen, and gold. Investors' nerves have not been eased as the week comes to...

Stocks plunged, bonds surged and the dollar rose on Thursday, as U.S. president Donald Trump announced an even larger-than-expected wall around the largest economy in the world, disrupting trade and supply chain. Nasdaq Futures fell 4%. Tech was on the frontline because China, which has been hit with an additional 34% tariff on top of its previous 20%, is a major manufacturing hub. Apple shares fell nearly 7% after-hours. S&P futures declined 3.3%, while Nikkei Futures fell more than 4%. Australian shares fell 2%. The U.S. Dollar was higher on a rollercoaster of currency trading, except for the safe-haven Japanese...

The global stock market rose on Tuesday, following Wall Street’s overnight gains. Gold reached a record high and Treasury yields dropped as markets waited for details about U.S. president Donald Trump’s reciprocal tariffs. The Japanese yen and Swiss franc held steady as demand for traditional safe-haven assets increased. The risk-sensitive Australian Dollar also rebounded, after the Reserve Bank of Australia kept interest rates unchanged, as expected, while warning of a "pronounced" uncertainty in the global economy. Investors anxiously await April 2, the day Trump has called "Liberation Day", where he promises to reveal a massive tariff plan. The Office of...

The Kremlin announced on Monday that Russia and the United States are working together on ideas to find a peace settlement in Ukraine, and building bilateral relations despite Donald Trump's claim that he is "pissed" at Vladimir Putin. Trump told NBC News he had been very angry when the Russian leader questioned the credibility of Ukrainian president Volodymyr Zelenskiy. The U.S. President suggested he might impose secondary tariffs between 25% and 50% on buyers of Russian crude oil. Trump told reporters that he had been disappointed by Putin, but added "I believe we are making progress step-by-step." When asked about...

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...