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The oil prices soared?on?Monday as Iran increased its strikes against?Gulf States following US attacks, threatening energy?shipments through the Strait?of Hormuz. Brent crude futures rose $2.34 or 3.08% to $78.35 at 2311 GMT. U.S. West Texas Intermediate crude climbed $2.21 or 3.09% to $73.62 a barrel. The U.S. and Iran launched new strikes against each other over the weekend. This is the latest in a series of counter-attacks and attacks on shipping through the Strait. U.S. president Donald Trump announced on Sunday that the Strait of Hormuz was open for commercial?traffic. Iran had earlier declared that it had closed the Strait...

China said on Friday that it would increase cooperation with Namibia, particularly in the energy, agriculture, infrastructure and minerals sectors. This was during talks between Chinese President Xi Jinping and Namibian president Netumbo Nandi Ndaitwah, which took place?in Beijing. Nandi-Ndaitwah is on a 7-day trip to China, since Sunday. He's seeking investment from China, the second-largest country in the world and the top lender. The goal of the trip is to implement the election promises to create jobs and diversify Namibia's economy. "In Namibia we affirm an unwavering commitment (to) this longstanding friendship" between Namibia and China, said Nandi Ndaitwah....

The price of oil rose by nearly 2% after the U.S. military conducted?airstrikes on Iran and reimposed crude sales sanctions. This sparked fears that their fragile truce could unravel, and Middle East supplies might be disrupted once again. U.S. Central Command announced on Tuesday that the U.S. airstrikes came in response to Iranian attacks against three commercial vessels transiting through the Strait of Hormuz. The Strait of Hormuz is an important waterway used to transport Middle Eastern oil shipments into wider markets. Brent crude futures rose $1.38 or 1.9% to $75.54 a barrel, while U.S. West Texas intermediate crude climbed...

Prices were little changed Monday as they traded?around pre -Iran War levels. Saudi Arabia slashed their?official'selling prices. OPEC+ approved a new production target starting in August. And exports via the Strait of Hormuz improved further. Brent crude futures were trading at $72.19 per barrel at 11:26 am, after hitting a four-year peak above $126 late in April. ET (1626 GMT), up by 7 cents or 0.1%. U.S. West Texas Intermediate Crude was trading at $68.81 per barrel, an increase of 12 cents or 0.2%. WTI was not settled on Friday due to the fact that U.S. market were closed. Both...

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...

Oil prices fell about 1% on Thursday, for the third day in a row, after Qatar announced that Iran and the U.S. made progress during 'indirect talks' focused on the Strait of Hormuz. This area handled a fifth of global oil supplies before the war. In a blog post, a Qatari Foreign Ministry spokesperson stated that the discussions had produced "positive progress" in relation to the memorandum which ended the war in the month of June. However, there was no indication that both sides had made any progress towards a lasting peaceful. Brent futures fell by 77 cents, or 1.1%,...

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...

Nigeria's 650,000-barrel-per-day Dangote refinery has imported ?2 million barrels of crude ?from ADNOC of the United Arab Emirates, ?traders told , ?marking its first ?such purchases ?of crude from the Middle Eastern producer. As demand in Asia has weakened and global crude markets have weakened dramatically, the purchases are being made at a time when the Middle East crude market is able to supply more Middle Eastern crude due to the 'U.S. Iran ceasefire' earlier this month. Three sources have confirmed that Dangote imported a cargo of Umm Lulu oil and another?of Das or Murban in June. The Dangote refinery...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets The first half of 2026 is over as the whistle blows. The AI industry has had a great year despite the energy-shocking, four-month-long Iran war, and the geopolitical tensions over Venezuela, Greenland, and NATO. Chip stocks have more than doubled. Below, I will go into more detail. Check out my most recent column about the risks that remain around the AI boom, even as bubble concerns are waning. Watch the new episode of Morning Bid, a special mid-year edition with Markets Columnist Jamie...

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...

Northern Minerals announced?on?Tuesday that Australian Treasurer, Jim?Chalmers, has ordered three 'offshore 'investment firms - including Hong Kong Ying Tak - to refrain from exercising voting rights within the rare earths developer. Foreign Investment Review Board of Australia (FIRB) has said that Hong Kong Ying Tak and?British Virgin Islands registered Real International Resources as well as Hong Kong registered?Qogir Trading & Service have failed to comply to earlier government 'orders to reduce stakes in Northern Minerals. In May, Treasurer Chalmers?ordered offshore shareholders to divest by July?2 their?holdings over concerns that Chinese-linked groups were seeking control of rare-earths mining company. Ying Tak's...

Gold prices dropped nearly 3% Monday after U.S. president Donald 'Trump' said he would reinstate a naval blockade against Iran. This would boost oil markets and reignite inflation fears, as well as raise the prospect of longer-term higher U.S. rates. By 10:38 am EDT (1438 GMT), spot gold had fallen 2.8%, to $4.005.59 an ounce. This was the lowest price since July 1. Prices fell for a second consecutive session. U.S. Gold Futures fell 2.4% to $4013.40. The Middle East conflict is causing oil prices to rise, and the Federal Reserve could tighten policy. This is bad for gold and...

Gold prices dropped more than 1% on Sunday as fresh strikes in the Middle East sparked inflation fears, raising the prospect of longer-term interest rates in the United States. By 9:08 am EDT (1304 GMT), spot gold had fallen 1.4%, to $4.064.02 an ounce. Prices fell for a second consecutive session. U.S. Gold Futures fell 1% to $4 071,80. "I'm not bullish on gold for the short term." The Middle East conflict is causing oil prices to rise, and the Federal Reserve could tighten policy. This is bad for assets that yield nothing, like gold", said?Fawad Rasaqzada at Forex.com. He...

Gold prices fell for a second session in a row on Monday, as renewed?hostilities? in the Middle East fueled inflationary fears and raised expectations that the U.S. Federal Reserve would keep interest rates high for longer. By 1100 GMT, spot gold had fallen 1.4%, to $4.061.64, while U.S. Gold Futures for August Delivery were down by 1.1%, to $4.069.60. U.S. forces and Iranian drones have exchanged heavy attacks, including missiles and drones. Tehran has also hinted at the closing of the Strait of Hormuz. On hearing the news, oil prices rose by over 3%. "Renewed hostilities (in the Gulf) rekindle...

De 'Beers announced on Monday that it will pause production at its Venetia Mine in South Africa for a period of two years. This is part of an overall effort to streamline operations and reduce costs in order to cope with the continued weakness in rough diamond trading. Anglo American is the majority owner of the diamond producer. The company said that the move would delay and reduce some expenditures on an underground mine project, but maintain investment in infrastructure for a higher level of production when the market conditions improve. Venetia is South Africa's biggest diamond mine in terms...

Gold prices fell for a second session in a row on Monday, as renewed 'hostilities' in the Middle East fueled inflationary fears and raised expectations that the U.S. Federal Reserve would keep interest rates high for longer. Spot gold fell 1.2% at $4,072.49 an ounce as of 0847 GMT. U.S. Gold futures for August were down 0.8% at $4,081.30. U.S. forces and 'Iranian forces have exchanged heavy drone and missile assaults. Tehran has targeted U.S. facilities in states on the other side of the 'Gulf, and hinted at the closing of the Strait of Hormuz. On hearing the news, oil...

Gold was down on Friday and set to lose a 'weekly loss' as concerns about the Federal Reserve tightening monetary policy were fueled by rising crude oil prices and tensions between Iran and the United States. By 1106 GMT, spot gold had fallen 0.4% to $4105.97 an ounce, a decline of about 1.6% over the past week. U.S. Gold Futures for August Delivery fell 0.6% to $4114.80 an ounce. Han Tan, Bybit's chief market analyst, said that spot prices "may again test $4,000 per ounce as a psychological support level should tensions escalate and oil prices extend their recovery." The...

Gold?edged down on Friday - and was on course for a 'weekly drop, on fears that escalating U.S. - Iran tensions would fuel inflation. This could keep the Federal Reserve hawkish in its monetary policy. Gold spot fell by 0.2%, to $4.113.02 an ounce at 0735 GMT. It was on track for a weekly drop of 1.5%. U.S. Gold Futures for August?delivery fell 0.4% to $4121.90. Tim Waterer is the chief analyst at KCM Trade. He said that gold was in consolidation mode after yesterday's gains. Traders were hesitant to commit to further upward movement due to the uncertainty surrounding...

Gold prices rose on Friday as the dollar weakened, but were on course for a weekly decline on fears that the escalating tensions between the U.S. and Iran could fuel inflation. This would keep the U.S. Federal Reserve in a hawkish policy direction. As of 0303 GMT spot gold was up by 0.2%, at $4,128,92 per ounce. It is heading for a weekly decline of over 1%. U.S. Gold Futures for August Delivery were unchanged at $4,139.50. Dollars were at their lowest level in a week, which made greenbacks priced bullion more accessible to holders of other currencies. Tim Waterer...

Gold prices fell more than 1% after the?U.S. Donald Trump declared that the interim peace agreement with Iran is "over", which sent oil prices soaring and revived fears of inflation. Gold spot fell by 1.4% at 1027 GMT to $4,049.92 an ounce, its lowest price since July 2. U.S. gold futures for August delivered fell 2.3% to $4.059.80/oz. Oil prices rose by more than 6% following a statement from?Trump that the Memorandum of Understanding signed with Iran in June to end their four month conflict was "over", and that he did not want to engage Tehran. UBS analyst Giovanni Staunovo...

India's import restrictions have caused shortages on the world's largest market for precious metals, driving premiums up to their highest levels in six months despite a weaker than usual demand. India's lower imports, which meet more than 80% its silver demand by purchasing it overseas, could have a negative impact on the global price of silver, as well as help narrow its trade deficit and reduce pressure on its currency, the rupee. Chirag Thakkar, the chief executive officer of Amrapali Group Gujarat - a major silver importer - said that "Silver Imports are almost at a standstill, creating a severe...

Gold prices dropped more than 1% on Tuesday after U.S. President Donald Trump declared that the interim peace agreement with Iran had "ended". This sent oil prices up and fuelled fears of inflation, as well as higher U.S. rates. Spot gold dropped 1.02%, to $4,063.67 an ounce, by 0850 GMT. It had fallen to its lowest level since July 2, earlier in the session. U.S. Gold Futures for August Delivery fell 1.97% to $ 4,074.80/oz. Trump stated that the Memorandum of Understanding signed in June with Iran to end a four-month conflict was "over" and added that he did not...