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Crude Oil

Crude Oil

The dollar is stable, but stocks are rising, and traders are focusing on US tariffs, data, and stock prices.

The dollar was little altered on Wednesday as the market's sentiment remained uncertain about U.S. president Donald Trump's plans for tariffs and his negotiations with China. Trump has set a deadline of Wednesday for trading partners to submit proposals for trade agreements in order to avoid the "Liberation Day Tariffs" from coming into effect within five weeks. The U.S. also increased its tariffs on aluminium and steel on Wednesday. These higher tariffs apply to all trading partners except for Britain, the only country that has reached a preliminary agreement. The dollar-denominated MSCI All-Country Index climbed to a new record high....

Crude Oil

European stocks up, dollar steady, even as tariff deal deadline looms

The dollar was largely unchanged on Wednesday as market sentiment was dominated by uncertainty over U.S. president Donald Trump's plans for tariffs and his negotiations with China. Trump has set a deadline of Wednesday for trading partners to submit proposals for trade agreements in order to avoid the "Liberation Day Tariffs" from coming into effect within five weeks. The U.S. also increased its tariffs on aluminium and steel on Wednesday. These higher tariffs apply to all trading partners except for Britain, the only country that has reached a preliminary agreement. The dollar-denominated MSCI All-Country Index climbed to a new record...

Crude Oil

As trade uncertainty persists, Asian stocks are rising and the dollar is fluctuating.

The dollar weakened as U.S. tariffs on steel and aluminum increased, and Asian stocks rose. This marks the latest chapter of the trade war which has roiled the markets throughout the year. Investors have been focused on the pace and lack of progress in trade negotiations. The deadline for U.S. trade partners to submit proposals for deals in order to avoid Trump's "Liberation Day", hefty tariffs, is Wednesday. The European Stock Futures market pointed to an opening higher as the European Central Bank began its two-day meeting, where it was expected to reduce rates on Thursday. South Korea's currency and...

Crude Oil

As trade uncertainty increases, Asian stocks are up and the dollar is softening.

The dollar dipped to six-week lows on Wednesday as traders prepared for the impending increase in U.S. tariffs on steel and aluminum. This is the latest chapter of the trade war that has roiled the markets throughout the year. South Korea's stock market and currency rose as the liberal presidential candidate Lee Jae Myung won his election. This raised hopes for a rapid economic stimulus, reforms of the markets and an end to policy uncertainty. The benchmark KOSPI rose more than 2%, reaching its highest level since August 2024. The MSCI broadest Asia-Pacific share index outside Japan was 0.6% higher....

Crude Oil

Dollar slips, shares cautious as trade concerns persist

Asia shares were slightly higher in Asia on Tuesday, while the dollar dropped to a six week low. Investors turned defensive as the erratic U.S. policies clouded the market sentiment. White House Press Secretary Karoline Laavitt announced on Monday that U.S. president Donald Trump and Chinese President Xi Jinping would likely speak this week. This comes after Trump had accused Beijing of breaking an agreement to reduce tariffs and trade barriers. Markets will closely monitor the call between the leaders, as tensions in trade between the world's largest economies continue to simmer due to tariffs. Monday's data showed that U.S....

Crude Oil

After the latest court ruling, Trump tariffs are still in place and stocks fall. The dollar also falls.

Investors digested the fact that an appeals court upheld President Donald Trump's tariffs, just a day after markets had rallied following a ruling that blocked most of them. The Nikkei index in Japan saw the biggest selling after the largest buying on Thursday. This was exacerbated by the fluctuation in demand for safe-haven currencies, such as the yen. The United States Court of Appeals for the Federal Circuit, Washington, temporarily reinstated Trump’s duties on Friday while it considered the government’s appeal. A little-known trade tribunal unanimously ruled on Wednesday that Trump had overstepped his authority and that tariffs are the...

Crude Oil

Stocks are hesitant, but the US dollar is rising on the back of rosy economic reports

The dollar gained on the back of positive economic indicators in the United States. Shares fell on Wednesday, as investors became cautious in anticipation of Nvidia’s earnings announcement on Wall Street. The market's optimism about what seemed to be an easing of trade frictions between Europe and the U.S. has faded. The global bond market settled after a frightening surge in long term yields. However, a lacklustre Japanese auction of its longest-dated bonds highlighted lingering concerns about fiscal deficits. The U.S. consumer sentiment surprised to the upside before Thursday's closely watched employment figures. Nvidia, a maker of artificial intelligence chips,...

Crude Oil

Stocks fall, yields rise; 20-year Treasury auction shows soft demand

Investors worried about the deteriorating fiscal outlook in the United States and Treasury yields rose following a sale by Treasury Department of $20 billion worth of bonds for 20 years. After the auction, all three of the major U.S. indexes fell by more than 1%. The dollar fell widely as well. Treasury yields continued to rise after the U.S. Treasury Department reported a weak demand for its $16 billion sale 20-year bonds. The bond sale was weak, which reinforced the idea that investors are avoiding U.S. assets. Concerns continued to grow about President Donald Trump's attempts to push through a...

Crude Oil

US stocks fall, Treasury yields increase; Trump tax-cut plan in sight

The major stock indexes showed mixed results on Tuesday with U.S. shares easing, but U.S. Treasury Yields rising as investors focused their attention on the critical U.S. Presidential vote that took place in Washington. Donald Trump Tax cuts for all. Go to Capitol Hill urged Republican legislators to settle their differences on a bill to extend tax cuts for 2017 from Trump's initial term. Investors worry that the bill could increase the U.S. deficit faster than expected. Moody's Investors Service, a credit rating agency in the United States, downgraded its credit rating on Friday evening. This sparked concerns over the...

Crude Oil

Treasury yields are rising, stocks and the dollar are down, with focus on the tax bill and US downgrade

The yields on longer-dated Treasury bonds rose, while the global stock indexes fell and the dollar weakened Monday. This was due to concerns over a U.S. federal tax bill, the U.S. government's debt and Moody's decision to downgrade the U.S. sovereign rating. Moody's Investors Service lowered the United States' sovereign rating to "Aaa" late on Friday night, bringing attention to the country's worsening fiscal outlook. A key congressional committee approved the massive tax-cut legislation of U.S. president Donald Trump on Sunday. Republicans in the U.S. House of Representatives, who currently control it, will push for the bill's passage this week....

Crude Oil

As markets wait for US data, stocks ease and the dollar trembles.

The dollar fell as traders looked to U.S. economic data for more catalysts. Brent crude futures fell more than 2% and U.S. Crude also dropped. The benchmark 10-year Treasury yield reached a new high, partly due to concerns over the budget plan of President Donald Trump that will add trillions to U.S. debt. The week began with a slew of positive news for investors, from a truce in the U.S.-China Trade War to a slew of investment deals that made headlines from the Middle East on Trump's Gulf Tour. These moves breathed new energy into battered international stocks. The optimism...

Crude Oil

As markets wait for US data, stocks drift and the dollar fluctuates.

The dollar fell on Thursday as traders looked to U.S. economic data for more catalysts. The benchmark 10-year Treasury yield reached a new high, partly due to concerns over the budget plan of President Donald Trump that will add trillions to U.S. debt. The week began with a slew of positive news for investors, from a truce in the U.S.-China Trade War to a slew of investment deals that made headlines from the Middle East on Trump's Gulf Tour. These moves breathed new energy into the battered stocks around world. The optimism of Thursday has largely faded, with MSCI's broadest...

Refined Products

Refined Products

Taiwan offers another $10 billion in aid to help deal with US tariffs

Taiwan's Premier proposed on Thursday another $10 billion as a budget special to help the economy cope with the impact U.S. Tariffs. Taiwan was due to receive 32% U.S. Tariffs in two weeks, but President Donald Trump suspended his "reciprocal Tariffs" for 90-days. At a press conference held in Taipei on Tuesday, Premier Cho Jung Tai said that the initial T$88.9 billion ($2.71billion) aid package will be increased up to T$410.9 billion ($12.61billion), which includes financing assistance for businesses, measures to stabilize the job market, and subsidies for electric. The special budget must be approved by the parliament. Opposition parties,...

Refined Products

South Korea hosts Alaska Governor and energy team amid talks of gas pipeline

Alaskan state officials, including the governor and energy officials, visited South Korea to discuss energy collaboration on Tuesday. This was in response to President Donald Trump's call for U.S. ally countries to join an stalled pipeline project. The American Chamber of Commerce in Korea said that the Governor Mike Dunleavy delegation included officials from the Glanfarne Group, which is a partner in a project to transport natural gas from Alaska's remote northern region via a $44-billion pipeline, and the state agency for gas. Dunleavy and South Korean Industry Minister Ahn duk-geun discussed energy issues including the Alaska LNG project and...

Refined Products

Sources say that Taiwan's CPC Corp. offers March jet fuel as a rare offer.

Three trade sources on Tuesday said that Taiwan's CPC Corp. is looking to export jet fuel in March. This would be the first time in almost three years that it has made such an offer. They added that the state-owned oil company issued a tender for a combined cargo of 150,000 to 150,000 bbls. of jetfuel or 150,000 bbls. of jetfuel and 150,000 bers. of gasoil with 10ppm of sulphur. A document that was reviewed by on Wednesday showed the cargo would be loaded between March 6-22. Sources said Tuesday that the tender will close on February 19, but it...

Mining

United States prepares to blacklist company that purchased TSMC chip found in Huawei processor, source states

The Biden administration prepares to blacklist a Chinese company whose TSMCmade chip was unlawfully integrated into a Huawei artificialintelligence processor, according to a person knowledgeable about the matter. The Chinese company, Sophgo, drew attention after a chip discovered on Huawei's Ascend 910B multi-chip system matched one it ordered from Taiwan Semiconductor Production Business . Sophgo is the most recent Chinese company slated to be penalized by the U.S. for helping Huawei. This month, the Commerce Department included other companies considered as part of Huawei's shadow network to the U.S. Commerce Department's restricted trade list. Sophgo, an affiliate of bitcoin mining...

Mineral Resources

Mineral Resources

Iron ore prices fall as the focus shifts from China's steel demand to a softening of iron ore.

Iron ore futures fell on Thursday as the focus returned to a softening of steel consumption during China's off peak demand season. The daytime trading price of the most traded September iron ore contract at China's Dalian Commodity Exchange was 701 yuan (US$97.60). As of 0701 GMT, the benchmark July iron ore traded on Singapore Exchange fell 0.8% to $94.7 per ton. Analysts at Galaxy Futures stated that prices of the main steelmaking ingredient will fluctuate due to the seasonal weakness in demand. The iron ore market is not changing fundamentally. "The upward momentum caused by the coal price rally...

Mineral Resources

Iron ore prices fall as the focus shifts from China's steel demand to a softening of iron ore.

Iron ore futures fell on Thursday as the focus returned to a softening of steel consumption during China's off peak demand season. As of 0238 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was trading 0.14% lower. It was 701 yuan (US$97.61) per metric ton. As of 0228 GMT, the benchmark July Iron Ore traded on Singapore Exchange fell by 0.69% to $94.8 per ton. Galaxy Futures analysts said that due to the lack of driving forces, the price of the main steelmaking ingredient is expected to fluctuate despite the seasonal weak demand. The iron...

Mineral Resources

Treasury's Bessent: Trump and Xi are likely to discuss the minerals dispute soon

U.S. Treasury Sec. Bessent believes that President Donald Trump will be speaking with Chinese President Xi Jinping soon about trade issues, including a dispute regarding critical minerals. Donald Trump accused China on Friday of violating a bilateral agreement to reduce tariffs and trade barriers for vital minerals. "What China does is that they hold back products which are essential to the industrial supply chain of India and Europe." Bessent told CBS' "Face the Nation" on Sunday that this is not the behavior of a reliable partner. "I'm confident that President Trump and Party Chairperson Xi will have a conversation, which...

Mineral Resources

Trump's trade tariffs and threats

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market selloff. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...

Mineral Resources

South Korean steelmakers are looking to U.S.-made products with higher value as Trump tariffs begin.

As major producers around the world prepare for Wednesday's increased tariffs, two major South Korean steelmakers have been evaluating their options to invest in new facilities. They said that the options included investing in operations in the U.S. The U.S. President Donald Trump’s decision to increase protection for American producers of steel and aluminum restores global tariffs that are effective at 25% on all metal imports. It also extends these duties to hundreds downstream products, such as nuts and bolts, bulldozers blades and cans. Canada, the largest foreign supplier of aluminium and steel to the U.S.A., Brazil, Mexico, and South...

Mineral Resources

Trump's trade tariffs and threats

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market sell-off. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...

Mineral Resources

Vietnam decides to temporarily impose anti-dumping tariffs on China steel products

The trade ministry announced on Friday that Vietnam would levy a temporary antidumping tax of up to 27,83% on certain hot-rolled coils steel products from China. In a statement, the Ministry said that the tariff would be effective on March 7, and it will last for 120 days. Baoshan Iron & Steel, Maanshan Iron & Steel are among the companies affected by these duties Vietnam launched an investigation into anti-dumping in July after complaints by Vietnamese producers. After business hours, the Chinese ministries of foreign affairs and commerce did not respond to faxed comments. Hanoi's decision comes after the U.S....

Mineral Resources

Donald Trump's trade threats and tariffs

Since Donald Trump returned to office in the United States last month, he has imposed numerous tariffs on imported goods and threatened to do so more frequently. These can be broad - such as a tariff on all imported goods from abroad - or targeted at certain sectors, countries, or regions to try and get them to comply with his demands. Trump's threats are constantly changing, and other nations and businessmen are unsure of what to expect next. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual rollout...

Mineral Resources

Karnataka State in India receives investment proposals totaling $115 billion.

A government spokesperson announced that Karnataka, a state in southern India, had received investment proposals totaling nearly 10 trillion rupees (115.31 billion dollars) as the country attempts to boost its manufacturing sector and create jobs in an economy slowing down. At the Invest Karnataka event held on Tuesday, a spokesperson stated that the proposed investments would be focused on renewable energy, automobiles, steel, semiconductors, and other areas. Not all of the proposals have been approved and the government does not provide a timetable for these investments. New Indian Express reported last week that the state government plans to implement 70%...

Mineral Resources

Donald Trump's trade threats and tariffs

Since Donald Trump returned to office in the United States last month, he has imposed numerous tariffs on imported goods and threatened to do so more frequently. These can be broad - such as a tariff on all imported goods from abroad - or targeted at certain sectors, countries, or regions to try and get them to comply with his demands. Trump's threats changed over the years, from small levies up to those exceeding 200%. Other nations and businesses are unsure of what will happen next. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS...

Mineral Resources

United States, Japanese, Philippine leaders discussed China's behavior in South China Sea, White Home says

U.S. President Joe Biden on Sunday met essentially with his equivalents from Japan and the Philippines to advance cooperation amongst the three countries, the White Home stated. The 3 leaders discussed trilateral maritime security and economic cooperation, and China's unsafe and unlawful habits in the South China Sea, it said in a statement. The three leaders agreed on the significance of continued coordination to advance a complimentary and open Indo-Pacific. Biden spoke with Japanese Prime Minister Ishiba Shigeru and Philippine President Ferdinand Marcos Jr. late on Sunday, a week before Biden leaves office and hands power to President-elect Donald Trump...

Mineral Resources

What's at stake for Asian companies in a Trump presidency

Donald Trump has actually been chosen U.S. president, topping an amazing comeback 4 years after he was voted out of the White Home. Here is what business in Asia have bought the United States, what Trump has stated about them and what possible U.S. service policy changes would mean for Asian companies. SEMICONDUCTORS Asian chipmakers, led by Taiwan's TSMC and South Korea's Samsung Electronics, have jointly invested a minimum of $117 billion in the U.S., encouraged by the current U.S. administration's essential initiative aimed at lowering its dependence on Asia for high-end chips. In return, they have gotten or been...