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Michaela Onyenwere, Sonia Citron shoot Mystics past Sun
Sonia Citron scored 26 points, 12 rebounds, and Michaela Onyenwere a season high 22?points as the Washington Mystics defeated the Connecticut Sun 88-81 on Wednesday at Uncasville in Conn. Citron made all 12 attempts at free-throws and 7 of 13 shots. Onyenwere, who had scored 17 points in three consecutive performances, followed that up by making 8 of 12 shots on the floor - including four from 3 point range. She hadn't scored as many points since July 7, 2023, when she had a 24-point explosion. Lauren Betts scored 13 points with?seven rebound in her first appearance for the Mystics, who were shorthanded (6-7, 3-3) in the Commissioner's Cup. They overcame Shakira Austin's (knee pain) and Kiki iriafen's (right ankle sprain) absences. Aneesah?Morrow of Connecticut came off the bench and produced 11 points with 10 rebounds, her ninth double-double for the season. Leila Lacan scored 11 points as well for the Sun (2-14, 0-6). They made only 4 of 20 3-point shots (20.0%), extending their losing streak to six consecutive games, which is a season low. Betts' free throws gave Washington a 61-50 lead, but Connecticut stepped up their game and tied the score at 70-70 on Lacan’s layup. There was 5:46 left to play. The Mystics recovered their composure. Citron, who had just scored a layup against the Sun and made a 3-pointer attempt by Onyenwere, went on his own 7-1 run to take Washington to a 86-75 advantage with 1:29 left. Diamond Miller's 3-pointer brought Connecticut to within 86-81, with just 35.2 seconds left. But the Sun couldn't get any closer. Kennedy Burke's 3-pointer brought Connecticut to within two points at 50-48 after the teams had?swapped their lead eight times during the first half. Washington's Cassandre prosper answered from beyond the arc in the next possession. Onyenwere then added another 3-pointer, helping to extend the lead to 60-53. Onyenwere scored 8 of Washington's 12 first points in the game. Her highlight was a 3-pointer that she drained on a contested shot to give her team an 18-14 advantage at the end the first quarter. The Mystics increased their lead to 34-27 after Georgia Amoore assisted Citron in his driving layup. She then made a 3-pointer during the Mystics' next possession. Field Level Media
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Oil prices fall as US and Iran reach peace agreement, but Asian stocks remain steady
Investors assessed the progress made in ending the Middle East war after the U.S. president and Iran's president signed an interim peace agreement, but uncertainties still lingered. The text of the agreement was released by both countries. It had circulated widely prior to its publication. The agreement extends the ceasefire that was announced in April for another 60 days, allowing both sides to negotiate an end to hostilities. Donald Trump, the U.S. president, has threatened to resume his attacks on Iran and to kill Iranian officials who fail to honor their commitments. Kyle Rodda is a senior analyst for Capital.com. He said that "major geopolitical risks persist?and will remain a major market driver." MSCI's broadest?Asia-Pacific share index outside Japan was flat. Japan's Nikkei average soared to a new record high, breaking the 71,000 mark for the first-time, thanks to?solid gains from semiconductor and AI related shares. South Korean shares also gained 0.9%. The S&P500 e-minis (U.S. stock?futures), which are the S&P 500 futures, rose 0.81% to 7,484.8. After earlier touching 2.63%, the benchmark yield on 10-year Japanese government bonds rose by 2 basis points to 2,620%. It is poised to close at its highest level since June 16. Prices of oil fell. U.S. crude dropped?1.25%, to $75.83 per barrel. Brent crude was down 1.4% at $78.41. All three major Wall Street indexes dropped overnight by close to or over 1%. Traders bet on the Federal Reserve raising interest rates next after the new Fed chair Kevin Warsh emphasized the need to curb inflation, and other policymakers predicted rising interest rates in the second half of the year. The Dow Jones Industrial Average dropped 507.12 points or 0.98% to 51,492.55, while the S&P 500 fell 91.25 or 1.21% to 7,420.10, and the Nasdaq Composite declined 354.69 or 1.34% to 26,021.66. The yield on 10-year Treasury bills rose to 4.471% from its U.S. closing of?4.463% Wednesday. The 2-year yield rose to 4.1759%, compared with a U.S. closing rate of 4.163%. As with the Fed, the Bank of England will meet on Thursday. No change is expected in interest rates, but the focus will be on the tone of the policymakers' comments. The dollar rose by 0.01% to 160.65 yen after hitting 160.79 overnight. This is the highest level since July 2024. The dollar index (which measures the greenback in relation to a basket of currencies, including the yen, the euro and others) fell by 0.03%, reaching 100.32. The euro rose?0.1% to $1.1511. Recent drops in oil prices are easing concerns about a slowdown in the economy, particularly in energy-importing Europe. The International Energy Agency stated on Wednesday that the oil market will move into a significant surplus in 2027, after recovering from the Strait of Hormuz closure. Spot gold is currently trading at $4,309.75 an ounce. Bitcoin gained 0.16%, reaching $64,464.75. Ethereum rose by 0.37% to reach $1,752.54. (Reporting and editing by Jamie Freed; Satoshi Sugiyama)
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Stocks fall, bond yields increase; Fed maintains rates but projects hike later this year
The Federal Reserve kept the benchmark rate unchanged and officials now expect to raise borrowing costs later this year due to rising inflation fears. Kevin Warsh, the Fed's new chief, took over last month and opened a whole new era. In his first press conference, he said that the forward guidance wasn't "well-suited" to current economic conditions. Officials projected that the policy interest rate would increase by a quarter percentage point at the end of the year. The rate has been in the range of 3.50-3.75 since December last year. A revised policy statement did away with language that indicated the possibility of "further reductions" in borrowing costs for this year. According to CME Group’s FedWatch tool, after the meeting, the short-term U.S. rate futures priced in a higher probability that the Fed would raise rates as soon as September, rather than keep them at their current level. Kay Haigh is global head of Fixed Income and Liquidity Solutions at Goldman Sachs Asset Management, New York. She said that today's meeting confirmed the Fed's recent shift to a hawkish stance was not only about higher energy prices. "Despite recent oil price declines, half of members of the FOMC are expecting rate hikes this year due to strong inflation and labor market data." The 10-year Treasury yield rose 3 basis 'points to 4.461%, and the 2-year Treasury yield, which is most sensitive to market expectations of Fed rate actions, jumped 16 basis points to 4.207%. This was its highest level since February 2025. Treasury yields had been little changed in the morning. The Dow Jones Industrial Average dropped 507.12 points or 0.98% to 51,492.55, while the S&P 500 lost 91.25 or 1.21% to 7,420.10, and the Nasdaq Composite declined 354.69 or 1.34% to 26,021.66. SpaceX shares are down for the very first time since their debut on the market last Friday. The stock fell 4.9%. MSCI's global index of stocks fell 7.18 points or 0.64% to 1,121.12. The pan-European STOXX 600 ended the day up 0.52%. As with the Fed, the Bank of England will meet on Thursday, and no policy change is expected. Instead, the focus will be on the tone of the policymakers' comments. Following the Fed announcement, the?dollar gained strength across the board. The dollar index (which measures the greenback versus a basket currencies, including the yen, and the euro) rose by 0.5% to reach 100.01, its highest level in almost a week. The euro dropped 0.5% to $1.1549. The oil prices rose. U.S. president Donald Trump defended the interim agreement he made with Iran. He said it had prevented a global economic disaster, but warned he would launch new attacks if Tehran did not honour its commitments. Brent crude futures rose 59 cents or 0.75% to settle at $79.55 per barrel. U.S. West Texas Intermediate increased 74 cents or 0.97% to $76.79. Recent drops in oil prices have begun to calm fears of an economic slowdown, especially in Europe which imports energy. International Energy Agency (IEA)?said that the oil market would move into a significant surplus in 2027, after recovering from the Strait of Hormuz closure. Gold spot fell by 1.71%, to $4255.97 per ounce. Investors digested the data that showed U.S. Retail Sales jumped by 0.9% in May after a downwardly-revised 0.4% increase in April.
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Europe BEV shares reach record high in May
In May, battery electric vehicle registrations in Europe hit a record market share, continuing a strong growth due to?subsidies and policy support?and higher petrol prices. Data from E-Mobility Europe (EME), New Automotive and Fier Automotive revealed that battery electric vehicle registrations in 17 European markets increased by 34.4% compared to the previous year, reaching 212,387 cars in May. This gives fully electric vehicles a market share of 23.6%. This followed growth of 34.1% in March and 51.3% in April, according to data from E-Mobility Europe. In a press release, Chris Heron, secretary general of E-Mobility Europe said that "consumers and governments are both responding to Europe's energy challenge" by buying electric cars. These vehicles reduce fuel costs, and oil imports, permanently. Data showed that local manufacturers had seven of the top 10 best-selling BEV models, despite increasing pressure from Chinese competitors. France had a market share of 29.5% in May for electric cars, Germany was at 25% and 'BEV registrations' grew by 41% during the first five months. Italy is the fastest growing market. Registrations have doubled in this year alone, thanks to new subsidies. Northern Europe and Benelux also remained strong.?With BEV market shares?reaching as high as 78.7% in Denmark.
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LME Issues Notice on Warranting of Russian Copper, Cobalt in EU
In a Wednesday notice, the London Metal Exchange stated that Russian-origin cobalt and copper could only be'registered' in its listed warehouses within the European Union with proof they were imported before July 25, 2026. The exchange stated that the notice was intended to update the market on the measures it is implementing to comply a EU Council Regulation which amends existing sanctions and prohibits "the purchase or import of cobalt or copper into the EU if they are exported or imported from Russia." The LME stated that it has not warranted any cobalt or Copper of Russian Origin at an LME listed warehouse in the EU since more than a yea, and that they do not expect this process to have'significant market impact. The EU's 20th set of sanctions against Russia was adopted on April 23. It included a ban of imports of Russian scrap metals such as aluminium, nickel bars, iron ore concentrates and ores, unrefined copper, etc. (Reporting by Ishaan Arora in Bengaluru; Editing by Paul Simao)
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The Hungarian government will gradually remove the fuel price cap, says PM Magyar
The government of Hungary decided to phase out the fuel price cap that was introduced by former Prime Minister Viktor Orban in March amid a surge in crude oil prices and ahead of an election for parliament scheduled for April. Orban lost. Peter Magyar, the Prime Minister of Hungary, announced the decision via a Facebook posting. He did not specify when the price cap would end. Limited prices on petrol, diesel and other fuels have been available to vehicles registered in Hungary. The U.S. and Iran reached a framework agreement to end the conflict in the Middle East. The government decided at today's meeting to change the law and phase out the price caps, as fuel prices are likely to fall below the cap prices by 10-15 forints a litre this week. Hungary released its state reserves earlier this year to ensure supply. Petrol is now capped at $5.95 per litre, while diesel is limited to $6.15. Central bank officials said the fuel price cap, along with the strong 'forint and the inflation risk, helped keep prices down. ($1 = 304.5500 Forints)
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Iraq's south crude production rises to 1.5 million barrels per day, an increase of about 500,000 barrels per day.
As more tankers arrive at 'export terminals', Iraqi crude production in the south has risen to 1.5 million barrels per day. Three oil officials stated that the production of Iraq's southern fields was approximately 1 million barrels per days (bpd), before the increase. Officials claimed that the ease of war between the U.S. The easing of the war between the?U.S. According to the document, Iraq increased its output at the Rumaila oilfield from 300,000 bpd to 650,000 bpd, as export operations recovered. The document and officials said that Iraq restarted West Qurna 2 with a production of 150,000 bpd to help boost southern crude oil production. A study found that Iraq, among Gulf oil producers, has seen the biggest drop in its oil revenues as a result of the 'effective closure' of the Strait. This is because the country lacks other?shipping routes. The United States and Iran reached an agreement earlier this week to halt their 'war,' halt the U.S. blockade of Iran, and reopen Strait of Hormuz.
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S&P 500 drops, yields increase following Fed announcement
On 'Wednesday, major stock indexes declined, bond yields rose and the U.S. dollar extended gains against the euro after the Federal Reserve kept the benchmark interest rates steady. New projections revealed that officials expect to raise borrowing costs in the second half of this year due to rising inflation fears. This was the first rate announcement under new Fed chairman Kevin Warsh. As was widely anticipated, there is a good chance that rates will not be cut in this year. "This further confirms it," said Ryan Detrick. Chief?market strategist for Carson Group, Omaha. Detrick asked, "Now we have to ask ourselves: Will there be a real hike this year or will the Fed take a break for the remainder of the year?" Treasury yields had not changed much earlier in the morning. The yield on the benchmark U.S. 10 year notes last increased by 3.91 basis points to 4.467% from?4.428% on Tuesday. The Dow Jones Industrial Average fell by 525.67, or 1.00 percent, to 51.474.20. The S&P 500 dropped by 96.15, or 1.28 percent, to 7,415.20. And the Nasdaq Composite declined 382.32 points or 1.54%, to 25,994.03. SpaceX shares are down for the very first time since Friday, when the stock was listed. Last week, the stock fell 1.8%. MSCI's index of global stocks fell by 4.04 points or 0.36% to 1,124.26. The pan-European STOXX 600 ended with a gain of 0.52%. The dollar index (which measures the greenback versus a basket of currencies, including the yen, and the euro) rose by 0.44%, while the euro fell 0.48% to $1.1551. The price of oil rose after U.S. president Donald Trump stated that his new ceasefire deal with Iran is not final and he can resume the war at any time if he's unsatisfied. Recent drops in oil prices have begun to calm fears of an economic slowdown, especially in Europe which imports energy. International Energy Agency stated that the oil market would move into a significant surplus by 2027 after recovering from the Strait of Hormuz closure.
Oil slips again as US, Iran sign peace deal
Early trading on Thursday saw oil prices fall after the U.S. signed an interim deal with Iran that would end the Iran War, reopen Strait of Hormuz, and waive U.S. sanction s on Tehran's crude, ending the largest energy supply disruption ever.
Brent crude futures fell 89 cents or 1.12% to $78.66 per barrel at 0005 GMT. U.S. West Texas Intermediate dropped 98 cents or 1.28% to $75.81 per barrel.
The benchmarks have resumed their fall, reversing the gains made on Wednesday after U.S. president Donald Trump stated that he would resume his bombing campaigns if Iran's leaders "don't behave".
The sell-off continued as energy markets continued aggressively pricing in a faster than expected return?of Iranian crude barrels after the recent U.S. -Iran Memorandum of Understanding," IG Market Analyst Tony Sycamore stated in a report.
The?14 point memorandum starts a 60 day negotiation period in which Iran will allow?toll free passage through the Strait?of Hormuz - a crucial oil and gas shipping lane. The agreement calls for the Strait of Hormuz to be reopened to full capacity in 30 days.
The preliminary agreement defers some of the most difficult issues, such as Iran's nuke program. It also requires that the U.S.?and its partners come up with $300 billion in financing for Iran's recovery.
The IEA warned on Wednesday that if the agreement is implemented successfully and the strait reopened the supply crisis this 'year could become a significant glut in 2027. In its monthly report, the IEA predicted that the supply would outstrip the demand by 5,05 million barrels a day next year, as Middle East oil returns back to the'market.
The U.S. Federal Reserve also weighs whether it needs to increase interest rates to curb inflation later this year, which could slow down economic growth and impede oil demand.
Wednesday's projections revealed that nine of the 19 Fed policymakers think a rate increase will be necessary. Three months ago, none held this view. Colleen howe reports.
(source: Reuters)