North America

Israel and Lebanon will implement a 10-day truce beginning at 5 pm EST (2100 GMT) Thursday in order to facilitate negotiations towards a permanent "security and peace" agreement. The U.S. State Department said that the ceasefire could be extended mutually. Israel's campaign against Lebanon is a major obstacle in achieving a peace agreement sought by U.S. president Donald Trump in order to end his war with Iran, which he began?with Israel late February. This has disrupted global energy trade and risen oil prices, risking further economic fallout. According to the U.S. State Department, once the ceasefire agreement is signed, the...

French Finance Minister Roland Lescure announced on Thursday that the Group of Seven finance and central bank chiefs had agreed to be ready to "act" to reduce economic and inflation risk caused by Middle 'East war energy price and supply fluctuations. Lescure told reporters at the International Monetary Fund's and World Bank's spring meetings that the outcome of the global economy depends on the speed with which the conflict is resolved. The International Energy Agency, with the support of the G7, released last month a record-breaking amount of oil from its strategic reserves in order to counter the cuts of...

?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...

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...

Treasury Secretary Scott Bessent said to reporters that the United States would not be renewing waivers which allowed some Iranian and Russian oil to be purchased without facing U.S. sanctions. Reports on Tuesday stated that Washington will not renew the 30-day waiver for sanctions against 'Iranian Oil at Sea' that expires in this week and that a similar waiver would expire on sanctions against Russian oil over the weekend. We will not renew the general license for?Russian oil and we won't be renewing the?general?license for Iranian oil. This was oil which was in the water before March 11. All of...

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...

Data from Kpler & LSEG revealed that Europe was experiencing record-breaking inflows of Jet Fuel from the United States. The region is trying to replenish fuel supplies as a result of the Middle East's disruption. Due to the U.S. and Israeli war against?Iran, the Strait of Hormuz has effectively been closed. This has prevented the Middle East from supplying Europe with nearly 75% of their?jet fuel, or about 375,000 barrels a day. According to a document viewed by, this has caused European airlines to call on the European Union (EU)?to take emergency measures including widespread airspace closings. Based on vessels...

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...

U.S. Treasury secretary Scott Bessent said on Tuesday that China was an unreliable?partner in the Middle East War?by hoarding supplies of oil and limiting the exports of?some goods. This is similar to its actions during the COVID-19 Pandemic. Bessent said he spoke with Chinese officials on the matter. He avoided a question on whether the dispute will derail U.S. president Donald Trump's plans to visit Beijing mid-May. However, he said that Trump and Chinese President Xi Jinping have a good working relationship. "I believe the message of this visit is one of stability. "We've enjoyed great stability in our relationship...

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...

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 Trump administration has extended the waiver that allows Lukoil service stations to operate outside of Russia until late October. This is a small exception to sanctions imposed by the U.S. last year in order to reduce revenues supporting Moscow’s war in Ukraine. Treasury Department announced on its website on Tuesday that the waiver for 2,000 stations in Europe, Central Asia and the Middle East, as well as the Americas, has been extended to October 29. In October, President Donald Trump imposed sanctions on Lukoil and Rosneft - Russia's largest oil companies - causing interest among potential buyers for the...

The U.S. Treasury Department imposed sanctions Thursday on a number of individuals and companies operating?in Nicaragua’s gold sector. This included two sons?of?the co-presidents?of the country. The Treasury Department announced in a press release that Santiago Hernan Bermudez Tapia is also sanctioned. He is Nicaragua's vice-minister of energy and mining. The Treasury Department also announced sanctions against a number of companies that they said were complicit in helping Nicaragua's government to generate money through gold and maintain its political control. Treasury Secretary Scott Bessent stated that the Nicaraguan Government, led by?Rosario Murillo, her husband Daniel Ortega and their family, sought to...

Gold prices were stable on Thursday, after reaching a high of?one-month in the previous session. As of 1:36 pm, spot gold was little changed at $4.785.57 an ounce. ET (1736 GMT). U.S. Gold futures ended the day 0.3% lower, at $4.80830. Investors became concerned about inflation and the market's liquidity. The precious metal fell in March, after U.S. and Israel began a war against Iran in late-February. Gold is a?asset that yields nothing, so it tends to lose its appeal when interest rates rise. Gold has recovered on the back of hopes that the U.S. will?achieve a lasting peace with...

Federal Judge Richard Leon ruled again on Thursday that U.S. President Donald Trump's plan for a White House ballroom to be built without congressional approval is illegal. The judge faulted the Republican president for claiming that national security requirements demanded that the project move forward. U.S. district judge Richard Leon issued a 10-page injunction on March 31, which had ordered the construction to cease. He did this to address Trump's and federal agencies "brazen" interpretation of the earlier decision. The National Trust for Historic Preservation sued the Administration, alleging that Trump overstepped his authority by razing the historic White House...

Gold prices held steady on Thursday as the markets watched developments between the U.S. and Iran, including their impact on inflation and interest rate rates. As of 11:00 am, spot gold was unchanged at $4.789.09 an ounce. After hitting a month-high in the previous session, ET (1500 GMT) was little changed. U.S. Gold Futures dropped 0.3% to $4.810.90. If we see an easing in tensions between the U.S. and Iran or a war ending, it will increase the likelihood that the Federal Reserve rate could be cut down the road... This would support precious metals," said David Meger, director of...

Gold prices rose on Thursday, as the?hopes of a?peace deal between?the U.S.A. and Iran eased inflation concerns and improved prospects for low interest rates. As of 9:00 am, spot gold was up 0.6% at $4,816.14 an ounce. ET (1300 GMT) after reaching a month-high in the previous session. U.S. Gold Futures rose?0.3% at $4,838.10. David Meger is the director of metals trading for High Ridge Futures. He said that as war tensions continue de-escalate inflationary pressures are easing, which increases the chances of Federal Reserve rate cuts this year. This will also support demand for non-yielding steel. Sources said that...

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 on Thursday, as a growing 'optimism' about the possible resolution of?conflicts? in the Middle East eased inflation concerns and improved prospects for lowering interest rates. Gold spot rose by 0.5%, to $4,815.15 an ounce, at 0926 GMT. It had previously reached a month-high in the previous session. U.S. Gold Futures for June Delivery gained 0.3%, to $4.836.50. This need for liquidity has largely run its course. Shah said that he expected the gold price to remain well supported, as long as there are still concerns about central bank independence. 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...

Aluminum rallied Thursday on expectations of an acute supply shortage due to the Middle East Conflict, as growing hope for a U.S. Iran peace deal improves demand outlook. Benchmark?three month aluminium at the London Metal Exchange rose 1.27% by 0705 GMT to $3,667.5 a metric ton, its highest since March 24, 2020. The Shanghai Futures Exchange's most traded aluminium contract closed the daytime trading up 2.89% to 25,635 Yuan ($3,760.62), its highest since March 9. The optimism grew as a key Pakistani facilitator in Tehran and Trump's administration talked up hopes for a pact that would open the Strait of...

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...

Ivanhoe Mines' sulphuric-acid?has a captive audience in the Democratic Republic of Congo. The chemical is soaring due to limited supplies caused by the conflict with Iran. Ivanhoe, a Vancouver-based company, began selling sulphuric acids as a by-product of copper smelting on its Kamoa Kakula project this year to other mine operators in the DRC copper belt who need acid to dissolve ore copper using a process known as leaching. The Middle East has struggled to supply?world markets', causing fears about a global sulphuric-acid shortage. Ivanhoe CEO Marna cloete told a copper industry gathering in Santiago that the DRC alone has...