North America

?U.S. Defense Secretary Pete Hegseth said at a Pentagon press briefing that forces in the Middle East were 'postured' to re-start combat operations if Iran refused to agree to a peaceful deal. He said, "You Iran can choose a prosperous, golden future. We hope you will do this for the people of Iran." "But if Iran chooses badly, they will face a blockade, and bombs being dropped on their infrastructure, power, and energy." U.S. forces have imposed a blockade against all ships attempting to enter or exit Iran as part of a campaign to press Tehran into a deal. "We...

Andrew Bailey, the Governor of the Bank of England, told BBC News that "the Bank of England will not rush to judgement" regarding interest rate increases, as central banks around he world are dealing with a soaring energy price due to 'the iran war. Bailey, who was in Washington at the spring meetings of the International Monetary Fund, said that higher oil and gasoline prices would undoubtedly feed through into prices. However, other factors make a decision about rates "very difficult", according to?the report. Bailey stated that "there are really difficult judgments to make." We're not going rushing to judgements...

Coal has been given an unlikely reprieve by the combination of U.S. support and the Iran War. Don't call this a comeback. In the first weeks of Tehran’s war against the U.S., and Israel, the global seaborne thermal prices of coal rose by over 25%. Prices rose to the highest level since late-2024, adding new momentum to a 'unexpected' rebound. This price rise reflects short-term market conditions, not a structural improvement in the?coal economy, as is evident by the fact that prices are only 15% higher than pre-war levels. These recent steps come after coal achieved several positive milestones in...

Last week, the U.S. almost became a net oil exporter for the first since World War Two. Shipments surged to near-record highs to meet the demand of Asian and European buyers scrambling in order to replace Middle East supply?cut off by the Iran War. The U.S.-Israeli war against?Iran has caused the biggest ever disruption in the global energy markets. Iranian threats have stopped a fifth of oil and gas from the world transiting through the Strait of Hormuz. Refiners who depend on these supplies in Asia and Europe have purchased alternative cargoes wherever possible, thereby boosting the demand for oil...

The United States on Wednesday warned that it would sanction any buyers of Iranian Oil and stated its belief that China will stop such purchases if Washington enforces the maritime blockade against Iran. Scott Bessent, U.S. Treasury Secretary, told reporters at White House that "we have informed countries that we will apply secondary sanctions if they are buying Iranian oil or if Iranian money sits in their banks." As the Iran War entered its seventh week, the U.S. began a maritime blockade against Iran on Monday. China had previously purchased more than 80% Iran's oil. Bessent stated, "We are confident...

The International Monetary Fund (IMF) expects that at least 12 countries will?seek out new loan programs? to deal with the surging 'energy prices? and supply chain disruptions caused by the Middle East?war?,? the head of global crisis lender, said on Wednesday. Kristalina Georgeeva, IMF's Managing Director, warned of further supply disruptions if the Strait of Hormuz is closed even if it ends quickly. She also urged nations to reduce fuel consumption. At a press briefing during the IMF/World Bank spring meetings, Georgieva reiterated her estimation that the disruptions caused by the war would trigger a new demand for financial support...

Donald Trump told Fox 'Business 'Network that he asked Chinese President Xi Jinping a question in a letter, asking him not to supply weapons to Iran. Xi replied that China did not supply tehran. In the Tuesday interview, Trump did not specify when the letters had been exchanged. He threatened to impose an immediate 50% tariff on countries that supplied Iran with arms last week. "I sent him a note asking him to not do that and he replied with a message saying that he is not doing it," Trump said on?FBN’s "Mornings with Maria". He said he didn't expect...

The?head of United Nations'?trade agency, said Tuesday that the shortages of fertilisers caused by the Iran war is a?priority for developing countries. Gains from higher oil and gas prices are unlikely to last long for producers in the developing world. The'more immediate issue' is fertiliser because it affects food safety and food is the foundation of stability, said Pamela Coke Hamilton, executive director at the International Trade Centre. She added that oil and natural gas can be obtained from other sources so that the situation is "not as dire", even if the price increases are a problem. Coke-Hamilton's agency, which...

Investors say that the U.S. Stock Market is back where it was six weeks ago when the Iran War began. This is because they bet on a short-term conflict. What if this thinking is incorrect? The S&P 500 benchmark's round-trip comes despite a dramatically different investing environment compared to February?27. This was just before U.S. and Israeli military strikes started the Middle East?"conflict". Oil prices have risen by about 40%. The fear of inflation has driven up the benchmark yields on?Treasuries. These same concerns have led the markets to rule out interest rate cuts in this year. If they continue,...

In a phone call that took place on Tuesday, Modi revealed in a blog post. Indian media reported that the conversation between the two leaders lasted for nearly 40 minutes. "Received an?a call from my friend President Donald Trump. We analyzed the significant progress made?in various sectors of our bilateral cooperation," Modi said on X. We are committed to strengthening our Comprehensive Global Strategic Partnership across all fields. We also discussed West Asia, and stressed the importance of keeping the Strait of Hormuz secure and open. The conflict in 'Middle East' has affected a wide range of sectors, from air...

The chief economist of the International Monetary Fund said that central banks may need to inflict more pain on the economy to control inflation caused by the long Middle East conflict than they did for the price spike after the pandemic. In a Tuesday interview, IMF Chief economist Pierre-Olivier Gourinchas explained that when Russia invaded Ukraine in 2022, oil prices rose to $100 per barrel, a post-COVID overheated economy required small increases in interest rates. Gourinchas stated that monetary tightening could be necessary, especially if inflation expectations are unanchored. Gourinchas, who spoke at the IMF and World Bank spring meetings...

On Tuesday, the Philippines' Energy Secretary Sharon Garin announced that her country is asking for an extension of a waiver allowing it to buy Russian oil and petroleum. Garin told a news briefing that he was awaiting the response of the other party, but he was confident about getting this 'other window.' The waiver had expired on April 11. Garin stated that the government is confident about obtaining the extension, but is also preparing alternative?supply arrangements in the event the request is denied. She said that the Philippines is diversifying its energy supply sources, and the options do not just...

Gold prices rose on Thursday, as a growing 'optimism' about the end of 'conflicts? in the Middle East eased inflation concerns and improved prospects for lowering interest rates. Gold prices rose 0.6% at $4,819.66 an ounce as of 1207 GMT after reaching a month-high in the previous session. U.S. Gold Futures for June Delivery gained 0.4%, to $4841.70. This need for liquidity has largely run its course. Shah said that he expects the gold price to remain well supported, as long as there are concerns about central bank independence and devaluation risk. On Thursday, optimism grew that the Middle East...

Gold prices rose Thursday due to a weaker dollar and lower Treasury yields. Investors were 'optimistic' about a possible end to the Middle East conflict, which had stoked inflation fears. By 0723 GMT, spot gold had risen 0.7% to $4821.96 an ounce. U.S. Gold Futures for June Delivery gained 0.4%, to $4843.40. The U.S. dollar hovered around its lowest level in six weeks, making greenback-denominated ?commodities, including bullion, more affordable for holders of other currencies. The benchmark 10-year U.S. Treasury rate fell by 0.1%, as?hopes for a U.S. Iran peace deal reduced bets on higher U.S. rates over the long...

Gold prices rose Thursday as investors became more optimistic about the potential of an end to the Middle East conflict, which had stoked inflation fears. By 0455 GMT, spot gold had risen 0.9% to $4.830.82 an ounce. U.S. Gold Futures for June Delivery gained 0.6%, to $4.853.40. The U.S. dollar fell to its lowest level in six weeks, making ?greenback-denominated commodities, including bullion, more affordable for holders of other currencies. Benchmark 10-year U.S. Treasury rates eased by 0.1% as hopes of a U.S. Iran peace deal eased bets on higher U.S. rate for longer. The primary driver of gold is?the...

Gold prices increased on 'Thursday', supported by a falling?dollar. Investors also weighed a?growing optimism over a possible U.S.Iran agreement to end the conflict that has pushed energy prices up and fueled fears of inflation. By 0301 GMT, spot gold had risen 0.7% to $4821.44 an ounce. U.S. Gold Futures for June Delivery gained 0.4%, to $4844.40. The U.S. dollar hovered ?near its lowest level in six weeks, making greenback-denominated commodities including bullion more affordable for ?holders of other currencies, while benchmark 10-year U.S. Treasury yields eased 0.1%. Kelvin Wong is a senior analyst at OANDA. He said that the primary...

Prices of copper rose to a six-week high on Wednesday as optimism grew over the possibility of another round of talks between Iran and the United States aimed at ending the war. The benchmark copper price on the 'London Metal Exchange reached $13,392.5 per metric ton, its highest level since March 2. In official rings, it traded at $13,227, down 0.4%. The lower copper prices were attributed to profit-taking by traders, triggered in part by the stronger dollar. When it increases, metals priced in dollars become more expensive for those who hold other currencies. Traders said that the overall sentiment...

Gold prices eased on Wednesday from their one-month-highs, as investors weighed the progress of the U.S. and Iran talks to end hostilities in Middle East, while oil prices held firm due to supply concerns resulting from the closure of the Strait of Hormuz. As of 1131 GMT spot gold was down by 0.7% to $4,806.77 an ounce after reaching its highest level since March 18 a few hours earlier. U.S. Gold Futures for June Delivery fell 0.4% to $ 4,829.70. It's possible that it is a spurious correlation, given the fact (that) both gold and equities react to changes in...

The copper price reached a six-week high on Wednesday, as optimism grew over the prospect of another round of talks between Iran and the United States to end the war. The benchmark?copper price on the London Metal Exchange reached $13,392.5 per metric ton. This is the highest level since March 2. At 0956 GMT, it was down by 0.2% at $13,254, due to profit-taking caused by the stronger dollar. The dollar's rise makes metals priced in dollars more expensive for those who hold other currencies. The traders reported that sentiment and volume?overall' in the industrial metals market was buoyant. U.S....

Gold prices fell after reaching a one-month high earlier in the session on?Wednesday. Prospects of another round peace talks between Iran and the U.S. boosted risk appetite while rising oil prices contributed to inflation problems. As of 0731 GMT spot gold was down 0.6% to $4,811.19 an ounce after reaching its highest level since March 18. U.S. Gold Futures for 'June Delivery' fell by 0.3% to $4834.40. Donald Trump, the U.S. president, said that talks to end the Iran War could resume in Pakistan within the next two days after weekend negotiations failed. Marex analyst Edward Meir said that gold...

The price of iron ore futures rose on Wednesday, as the prospect of peace talks?to end Iran's war quelled fears about Chinese steel disruptions in the Gulf. Meanwhile, the?rising production of hot metal?continued to?support demand for this steelmaking ingredient. The September contract for iron ore on China's Dalian Commodity Exchange traded 0.99% higher, at 764 Yuan ($112.06) per metric ton. As of 0704 GMT, the benchmark May iron ore was trading at $104.5 per ton on the Singapore Exchange. U.S. president Donald Trump announced on Tuesday that talks to end the Iran War could resume in Pakistan within the next...

The gold price fell on Wednesday, after reaching a 'one-month high in the previous session. As of 0249 GMT spot gold was down 0.3%, at $4,828.07 an ounce. It had earlier reached its highest level since March 18. U.S. Gold Futures for June Delivery were unchanged at $4,851.30. The dollar has recovered from its lowest level in more than a month, making commodities denominated in greenbacks such as bullion more expensive for holders of other currencies. dollar rebounded from its lowest level in more than a month, making the greenback-denominated commodities, such ?as bullion, more expensive for holders of other...

Greenland's Prime Minister said Tuesday that he appointed his predecessor Mute Egede to the position of?foreign ministry, giving him the task of steering the relations with the United States amidst pressure from U.S. president Donald Trump to control the island. Premier?Minister Jens Frederik Nielsen stated that Egede’s portfolio would also include those of minerals resources and business policy. Trump has repeatedly claimed that the United States is in need of Greenland, which is a part if the Kingdom of Denmark. This claim has caused a rift between European NATO allies, who have rejected it. Greenland and Denmark, as well as...

Gold prices increased?on a?Tuesday?, aided by a softer Dollar and easing fears of inflation. Oil prices fell on the hope that further U.S. Iran peace talks would be held. As of 0755 GMT, spot gold rose 0.8% to $4,775.20 an ounce. U.S. Gold futures for delivery in June rose by 0.7% to $4 798.40. Oil prices?fell under $100 a barrel after signs of possible talks to end U.S.-Iran War?eased fears about supply risks arising from the U.S. ban on Iranian ports. Increased crude oil prices increase transportation and production costs, which in turn contribute to inflation. Gold is often used...