Crude Oil

Brent crude for "prompt" delivery traded below contracts that were due to be delivered up to six months in the future this week, the latest indication that increased shipments through Strait of Hormuz has caused a glut near-term. On Friday, the first-month Brent futures contract for September traded below the five subsequent contract months. Last week it was trading at a discount to the second contract month. Brent Spreads for the Six-Month Period On Wednesday, oil prices slid to a discount. They dropped to minus 56 cents per barrel on Thursday and then recovered to a small premium on Friday....

Global stocks continued to rise on Friday, after a lackluster U.S. employment report tempered expectations of an imminent rate hike by the Federal Reserve. Meanwhile, regional activity gauges indicated an economic expansion in June. Europe's broadest index reached a new record and was on track for its largest weekly gain in more than a month. The pan-European STOXX600 reached 651,77 before stabilizing at 650.29. The DAX in Germany rose by 0.4%. The French index was stable and the UK index fell 0.2%. The broadest MSCI index of world stocks rose by 0.4%. Dan Coatsworth of investment platform AJ Bell said...

Stocks rose in the Asian session on Friday, after a lukewarm U.S. jobs report cast doubts over the prospects of a Federal Reserve rate hike. Regional activity gauges also pointed to an expansionary economy during June. MSCI's broadest Asia-Pacific share index outside Japan, which had been in decline for two days straight, rose 2.2% after a shaky beginning. South Korea's Kospi fluctuated between gains and losses before surging by more than 6%, as buyers snapped up battered chipset stocks. S&P 500 futures rose by 0.4% while Japan's Nikkei reversed its early losses and traded 1.2% higher. The latest data from...

The price of oil rose slightly Friday, just before the long holiday weekend here in the United States. As cautious optimism held on efforts to bring peace between the United States and?Iran in the Middle East. Brent futures rose 17 cents or 0.24% to $72.10 per barrel at 0155 GMT. West Texas Intermediate rose 14 cents or 0.20% to $68.83 per barrel. The U.S. market will be closed on Friday in advance of Independence Day. Independence Day is celebrated on Saturday. The two benchmarks reached their lowest levels in the previous session since the U.S./Israeli war against Iran started late...

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets The?U.S. The?U.S. It's not wise to read too much into the market movements this week due to the short week, the quarter-end trading quirks, and the looming payrolls reports, but there does seem to be some profit-taking going on, as well as portfolio reshuffling. Below, I'll go into more detail. Check out my column about the seemingly unstoppable growth of the U.S. economic over the last 17 years, and how it has affected the bull market in equity. Listen to the Morning...

Brent oil, meanwhile, posted its biggest quarterly drop since 2020 as traders stayed on top of a fragile truce between the United States &?Iran. The U.S. Dollar was expected to post its fourth consecutive quarterly gain against a basket, pushing the yen down to a low of 40 years, as expectations of U.S. rate hikes changed dramatically on the last day. The greenback gained more than 1% against the currencies of emerging markets as a group throughout the second quarter. The Strait of Hormuz reopened slowly and randomly on the energy markets as the hostilities between Iran and the U.S....

The oil prices were little altered on Tuesday, but they were heading for their largest monthly and 'quarterly' losses since the COVID-19 Pandemic early in '2020. Investors were looking at potential U.S. - Iran talks in Doha amid the strained -interim ceasefire of the four-month long war. Brent futures dropped 13 cents or 0.2% to $73.02 per barrel at 12:34 pm EDT (1634 GMT), whereas U.S. West Texas Intermediate crude (WTI) fell 89 cents or 1.3% to $69.86 per barrel. The two crude benchmarks are close to the levels they reached on February 27, just before the U.S. and Israel...

Shell's annual report said that the global liquefied gas demand is expected to increase by 65% by 2050. This will be driven by Asia, as they seek "lower-emission alternative" fuels than coal, and data centres are driving up power consumption. In its LNG Outlook 2026, the world’s largest trader in supercooled fuel predicted that global demand would reach 700 million metric tonnes per year by this date. The report said that the LNG trade was expected to grow in 2026 from 422 million tonnes in 2025. The Strait of Hormuz is currently experiencing severe disruption, which has caused around one-fifth...

Asian stocks surged on Tuesday at the end of an impressive quarter, as a resurgent yen fell to its lowest level in four decades and headed towards a fourth consecutive quarterly increase. Japan's Nikkei rose 1.6% and is on track to set a new record for quarterly gains of over 38%. South Korea's KOSPI, which is dominated by chipmakers, rose 3%. However it was on track for a record-breaking second-quarter gain of more than 71%. It has already doubled in the past year. Brent crude futures are trading at $72.49 per barrel, which is the pre-war price. This is even...

The yields on short-term U.S. Treasury bonds were mostly higher Monday as crude prices increased following the?attacks? between the U.S. U.S. crude jumped 1.34%, to $70.15 per barrel. Brent went up to $72.77 a barrel, a 1.08% increase on the day, as the attacks threatened to undermine a fragile peace deal. However, expectations of continued energy shipping through Strait of Hormuz held gains in check. A source said on Monday that the Iranian and U.S. teams working on the implementation a interim peace agreement?are likely to meet in Doha within the next few days. This week will bring a series...

The global equities markets fell on Friday, and are set to decline for the week, as profit-taking drove a saleoff in chip stocks and technology companies, while crude oil dropped?as more tankers left Strait of Hormuz. Wall Street saw all three indexes trade higher, despite choppy trading, as gains in consumer discretionary and healthcare stocks were offset by losses in technology, industrials and energy. S&P 500, Nasdaq and Dow were all on course for weekly losses, while Nasdaq was heading for a gain. The chip stocks fell 4.5%, and they were expected to lose 7% this week. This is the...

Global stocks rose Thursday, as chipmakers' strong earnings lifted sentiment. Meanwhile, the dollar hovered at a year-high, with investors still wary of stretched valuations. S&P 500 and Nasdaq, the benchmark indexes on Wall Street, were both up, with industrials, healthcare, and materials stocks leading the way. Micron rose 10% as the memory chipmaker’s strong forecast contributed to its AI-driven rise. Qualcomm gained 4% following its announcement that it expects to generate $15 billion in annual sales through its data center division by 2029. Nasdaq fell, but was dragged lower by the choppy trades among megacap technology companies. Apple fell 5.3%....

Wall Street gained in the midday trade on Monday, largely due to continued optimism about chip stocks. Oil fell as a result of an expected surge in supply. All three major U.S. indexes rose in the early afternoon after European stocks had flirted earlier with'record peaks' before retreating, ahead of the crucial earnings season for AI. The Dow Jones Industrial Average climbed 0.07% to 52,938.04, while the S&P 500 rose by 0.73% to 7,537.75, and the Nasdaq Composite gained 1.25% to 26,155.56. The MSCI index of global stocks rose 0.45% to 1,128.87. Global AI continued to dominate the markets. South...

Yonhap News Agency, citing the prosecution, reported that South Korean prosecutors indicted four oil refiners for alleged collusion over fuel prices, which was estimated to have caused anti-competitive damage worth $17 billion. Yonhap reported that the companies are HD Hyundai Oilbank GS Caltex S-Oil and SK Energy. The 'Seoul Central District Prosecutors' Office spokesperson did not reply to my phone call and text message seeking confirmation of the report. A phone call or text message asking for confirmation of the report was not answered. Yonhap reported that the prosecutors alleged pricing managers from HD Hyundai Oilbank, SK Energy and other...

Asian shares were mostly higher on Monday as Wall Street futures started the week on a positive note on the back of a good earnings season. Meanwhile, oil prices are dropping, which will ease inflationary pressures. Although there have been no developments in the U.S. Iran peace talks, 160 ships were reported passing through the Strait of Hormuz from Monday to last Saturday. OPEC+ agreed to increase output targets for August by 188,000 barrels a day, in addition to the increases made in June and July. Brent crude fell 0.6%, to $71.70 per barrel, a level near the four-month low....

Global stocks reached their best performance in the past two months after a lukewarm U.S. employment report dampened expectations of a rate hike by the Federal Reserve. This slowed down?the dollar and gave gold an extra boost. STOXX 600 in Europe hit another record and traded up 0.6% last time, heading for a gain of 2.6% per week, its highest since mid-May. The broadest MSCI index of world stocks rose by 0.4%. It is expected to gain 2% in the coming week, which would be the highest increase in two months. The tech-lite European indexes are in high demand again....

After a lukewarm U.S. The jobs report has thrown cold water on the 'prospect' of an imminent rate increase by the Federal Reserve. MSCI's broadest Asia-Pacific share index outside Japan fluctuated in gains and losses. It gained 0.1% following two days of consecutive declines. The sharp declines in U.S. chipmakers trading weighed heavily on South Korea's Kospi. S&P 500 and Nasdaq futures both rose by 0.1% while Japan's Nikkei was down by 1%. According to data released Thursday, the U.S. employment growth slowed dramatically in June, and payroll gains from the two previous months were'revised down.' This indicates a cooling...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets Investors are in a cautious mood as we begin the new quarter, month and second half. U.S. Treasury rates have risen overnight, ahead of the June jobs report, and they're already anticipating the second-quarter earnings season. The jump in Treasury yields was not triggered by a specific event, but it came after news of a'surprise' increase in U.S. jobs for May. It also comes before Federal Reserve Chair Kevin Warsh speaks at the European Central Bank annual forum later today in Portugal. Below,...

Wayne Cole gives us a look at what the future holds for European and global markets. The 'new quarter' in Asia has been marked by a lack of confidence, partly because the market is digesting the gains from the previous quarter and partly because the U.S./Iran talks have not progressed. Tehran has reportedly refused to meet with President Donald Trump's son in law?Jared Kushner or his envoy Steve Witkoff, who arrived for high-level talks at Doha. The Strait of Hormuz is a very difficult issue. It's unclear how to resolve it. Asian stock markets have been mixed. This follows a...

On Tuesday, global stocks were on track to achieve their best performance in the second quarter of six years. Meanwhile, a resurgent US dollar drove the yen down to its lowest level in four decades and?on course for a fourth consecutive quarterly increase. In the past three months the Strait of Hormuz reopened haphazardly and gradually as the hostilities between Iran and the U.S. waned, resulting in a fragile ceasefire that knocked 20% off of the price of crude oil. A dramatic shift has also occurred in the expectations of U.S. interest rate, against a backdrop that is dominated by...

Tom Westbrook gives us a look at what the future holds for European and global markets. This session is the first day of buying for the next quarter, as trades settle on the following day. The 'biggest supply shock in history' has barely left a mark on the financial markets as China cut demand, producers and alternative shipping routes filled the shortfall. The oil prices have dropped to the levels they were before the U.S., Israel and Iran conflict began in February. Skirmishes that strain the ceasefire draw little attention. Even the bond markets seem to be changing. The bond...

Asian stocks shook as they approached the end of a stellar quarter on Tuesday. A resurgent Dollar pushed the Japanese yen down to its lowest level in four decades, and was heading for a fourth consecutive quarterly rise. Japan's Nikkei is set to record a record gain of 36% in the second quarter. South Korea's chipmaker driven KOSPI fell 1% but was still on track for a record second quarter rise of more than 65%, having doubled in value year-to date. Brent crude futures are trading at $72.49 per barrel, which is the pre-war price. This is even with the...

Ankur Banerjee gives us a look at what the European and global markets will be like today. The latest tit for tat attacks in the Middle East were stopped, causing a nervous reaction on the markets. Persistent unease about stretched 'tech valuations' and the prospect?of higher rates for longer added to doubts over a ceasefire which has been struggling to hold. The oil prices have risen on the back of renewed hostilities, but they've also slowed down as new talks raise hopes for an interim agreement. This helped lift U.S. stock futures and European stock prices, though Asian equities remain...

Trade sources reported on Friday that 'QatarEnergy' has released a tender to sell crude oil for loading in July and August. This is believed to be its first tender since the onset of 'the Iran -war. Producer offers Marine Land, Marine Qatar, and al-Shaheen crude. According to a tender document seen by, buyers can load or transfer via ship-to -ship transfer between Fujairah & Sohar. The bid will close on 29 June. The offer is a further boost to the rising supply of Middle Eastern producers. Iraq's SOMO, the state-owned oil marketer in Iraq, issued a tender?Thursday for Basra Heavy...