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Oil prices dropped on Thursday as investors hesitated to make new investments after President Donald Trump sent mixed signals about possible U.S. intervention in the Israel-Iran Conflict, and the Federal Reserve kept interest rates the same. Brent crude futures dropped 20 cents or 0.26% to $76.5 per barrel at 0421 GMT after gaining 0.3% the previous session, when high volatility caused prices to fall up as much as 2.7%. U.S. West Texas Intermediate Crude for July dropped 4 cents or 0.05%, to $75.10 per barrel. It had previously risen 0.4%, but then fell as much as 2.4%. The contract for...

On Wednesday, oil prices increased in Asian trade. This was a continuation of a 4% increase from the previous session due to fears that the conflict between Israel and Iran could disrupt supply. Brent crude futures were up 26 cents or 0.3% to $76.71 per barrel at 0440 GMT. U.S. West Texas Intermediate Crude Futures increased 35 cents or 0.5% to $75.19 a barrel. The U.S. president Donald Trump called on Iran to "unconditionally surrender" Tuesday as the Iran-Israel war entered its sixth day. Three officials confirmed on Tuesday that the U.S. Military is sending more fighter planes to the...

U.S. Investors sought refuge on Friday in safe-haven assets such as the dollar and gold after oil prices soared following Iran's retaliation against Israel's largest-ever military attack against the major producer of crude. Iran launches airstrikes against Israel After unprecedented Israeli strikes, some fear a regional conflagration. On Friday, explosions were heard in Jerusalem and Tel Aviv - the two largest cities of Israel. Israel had earlier destroyed Iran's vast underground nuclear facility at Natanz and killed top military leaders. Investors believe that the markets will likely survive the latest hostilities, unless Iranian oil installations are attacked or if other...

The worst-case scenario for investors, which is a full-blown Middle East war, is now becoming a reality. This will unleash a massive capital flight from risk assets to classic safe havens. Israel said on Friday that it launched an attack against Iranian nuclear facilities and missile factories and killed a number of military commanders. This could be the start of a long-term operation to stop Tehran from building an atomic bomb. Oil, which makes up roughly 30% of the global energy demand, has soared, with gains as high as 14%. Gold and government bonds have also briefly fallen. Airlines led...

Oil prices fell on Thursday, reversing gains earlier in the Asian session. Market participants analyzed a U.S. move to remove personnel from the Middle East before talks with Iran about its nuclear activities. Brent crude futures fell 30 cents or 0.4% to $69.47 a bar at 0433 GMT. U.S. West Texas Intermediate Crude was 23 cents or 0.3% lower at $67.92 a bar. Brent and WTI both rose more than 4% the day before, reaching their highest levels since early April. Donald Trump, the U.S. president, said that the U.S. is moving personnel to the Middle East because it "could...

Johann M. Cherian gives us a look at what the future holds for European and global markets. The mood of European investors is set to change as a result of the rapidly increasing tensions in Middle East, and another tariff salvo by U.S. president Donald Trump. This has triggered a wave dollar selling and risk off moves. The U.S. and China talks, which were much hyped up, ended in a fragile truce. This may have temporarily quelled the simmering tensions on trade between the two largest economies of the world. However the investors are still uneasy due to the lack...

The oil prices rose on Thursday, reaching their highest level in over two months after U.S. president Donald Trump announced that U.S. personnel would be moving out of the Middle East. This sparked fears about the potential disruption to supply if tensions escalated with Iran. Brent crude futures increased 15 cents (0.2%), to $69.92 a bar at 1230 GMT. U.S. West Texas intermediate crude rose 22 cents (0.3%), to $68.37. Brent and WTI both surged over 4% on Wednesday, reaching their highest levels since early April. Trump said on Wednesday that U.S. personnel was being relocated out of the Middle...

Investors waited in London for the U.S. China trade talks scheduled later that day. Oil prices were able to hold onto their gains from last week. Brent crude futures were unchanged at $66.47 per barrel at 0008 GMT. U.S. West Texas Intermediate Crude was trading at $64.59. Prices rose as the prospect of a U.S. China trade deal was raised. Three of Donald Trump's most senior aides will meet their counterparts on Monday in London for the first U.S. China economic and trade consultative mechanism meeting. The announcement came after a rare phone call on Thursday between top leaders of...

The British government announced on Monday that it would extend the ban on bottom-trawling in order to protect marine life. This comes amid calls by acclaimed naturalist David Attenborough, and Prince William to take urgent measures to safeguard the oceans. The government announced that the plan would be subject to consultations with the marine and fishing sector. It will ban bottom trawling, or dragging large nets across the seabed, in 41 Marine Protected Areas spanning 30,000 square kilometers (11,600 miles). The move will protect marine habitats vital to species like lobster, clams soft corals, and langoustines. There is currently a...

Wall Street and crude prices both advanced on Thursday, as investors weighed the new trade talks between U.S. president Donald Trump and Chinese president Xi Jinping with a series of disappointing economic data in advance of Friday's important jobs report. The S&P 500, Nasdaq, and Dow were all modestly lower, and the Dow barely in positive territory. U.S. Treasury rates fluctuated, and gold was weaker. Trump and Xi spoke by phone Thursday to try to resolve the trade dispute between the two world's largest economies. They agreed to continue discussions, according the summaries from the U.S. Thomas Martin, Senior portfolio...

Wall Street shook and crude prices jumped Thursday, as investors juggled the new trade talks between U.S. president Donald Trump and Chinese president Xi Jinping with a series of disappointing economic data in advance of Friday's important jobs report. In early trading, the three major U.S. indexes were unable to find a direction and ended up modestly higher. Meanwhile, U.S. Treasury rates fluctuated and the dollar was weaker. Holding talks According to the summaries provided by the U.S. government and the Chinese government, they spoke with Xi on Thursday to try to resolve the trade dispute between the two world's...

The oil prices fell in the early hours of Thursday's trading after an increase in gasoline and diesel stocks in the United States and Saudi Arabia lowering its July crude prices for Asian buyers. Brent crude futures dropped 21 cents or 0.3% to $64.65 per barrel at 0047 GMT. U.S. West Texas Intermediate Crude lost 29 cents or 0.5% to drop to $62.58. The price of oil closed about 1% lower Wednesday, after data revealed that U.S. gasoline stocks and distillate inventories grew more rapidly than expected. This was due to a weaker demand for the top economy in the...

Rio Tinto has agreed to pay $138.75m to settle a lawsuit in which investors accused the Anglo Australian mining giant of fraud by hiding problems with the $7 billion underground expansion at the Oyu Tolgoi Copper and Gold Mine in Mongolia. The preliminary settlement for the proposed class-action was filed with the U.S. District Court of Manhattan late on Wednesday, and it requires the judge's approval. The lawsuit was filed on behalf of Montreal-based Turquoise Hill Resources shareholders between July 2018 and the end of July 2019 when Rio Tinto owned the majority of that company. Investors led by Chicago-based...

The gold price was little changed Wednesday, as investors waited to hear the Federal Reserve's decision on policy and Jerome Powell's comments. Platinum surged at a four-year high. By 1013 am EDT (1413 GMT), spot gold had fallen 0.1%, to $3386.10 per ounce. U.S. Gold Futures dropped 0.1% to $3.403.50. Marex analyst Edward Meir stated that the markets are currently trading sideways as everyone awaits the Fed's decision, and developments in the Middle East. Iran's Supreme leader Ayatollah Alyatollah Khamenei has rejected the demand of U.S. president Donald Trump for unconditional surrender. Iranians are jamming the highways to flee from...

Where has all the aluminum gone? In the warehouses of London Metal Exchange (LME), there were 1.3 million tons of aluminium two years ago. Since then, the inventory has almost halved to levels last seen in 2020. London's market is becoming more turbulent as traders compete for what's left. This may not be apparent at first glance, but the calm exterior masks a lot of turmoil. Short-dated spreads are tightening and becoming volatile. While the LME outright three-month price has been tethered around $2,500 per ton, the LME three month price is still a sedate level. LME's aluminium market has...

The copper price remained stable on Wednesday, due to the softer dollar in anticipation of the Federal Reserve's decision on U.S. Interest Rates. However, the escalating conflict in the Middle East with its impact on demand and growth dominated the mood. At 1001 GMT, the benchmark copper price on London Metal Exchange was up by 0.2% to $9,691 per metric tonne. Traders said that metals activity is low as the Federal Reserve will announce its interest rate decision in a few hours and the U.S. market closed for Juneteenth on Thursday. The oil prices have risen in the last few...

The gold price was flat in Asia on Wednesday, as investors held off on placing large bets before the U.S. Federal Reserve made its policy decision. They also kept a close eye on developments around the Israel-Iran dispute. As of 0341 GMT, spot gold was unchanged at $3,388.04 per ounce. U.S. Gold Futures remained largely unchanged at $3.406.50. Investors tracked the rise in risk in the Middle East. Gold fluctuated. The Fed's decision to lower rates this year is backed up by the tepid US retail sales, housing market and industrial output reports. Iran and Israel launched missile attacks on...

The prices of metals fell in London on Tuesday due to a stronger U.S. Dollar and the escalating tensions with Israel and Iran. As of 0246 GMT, the London Metal Exchange reported that three-month copper was down by 0.3%, at $9,677 a metric ton. LME aluminium fell by 0.2%, to $2 508 per ton. Zinc dropped 0.4%, to $2 646, while lead dropped 0.5%, to $1 996.50, and nickel fell 0.4%, to $15 005. Tin fell 0.3% to $32,505. Metals prices fell this morning as a result of the conflict between Israel and Iran, according to a Singapore-based metals dealer....

The price of metals fell in London on Tuesday due to a stronger dollar, and the escalating tensions with Iran and Israel. As of 0124 GMT, the London Metal Exchange reported that three-month copper was down by 0.3%, at $9,673.50 a metric ton. LME aluminium fell by 0.1% to 2,511.50 dollars a ton. Zinc fell 0.4% at $2,649; lead fell 0.4% at $1,998.50; and nickel dropped 0.4% at $15,005. Tin fell 0.4% to $32,505. The SHFE's most-traded contract for copper gained 0.3%, to 78.500 yuan per metric tonne ($10,934.67). Israel and Iran attacked one another for the fifth day in...

The British government will finalise the 500 million pound rail steel deal with British Steel. This is to protect thousands jobs at an Eastern England steelmaking facility that was taken over by the state earlier this year. British Steel will supply over 337,000 metric ton of rail track in five years. The government announced the contract on Tuesday. This comes two months after the Chinese took control of British Steel from Jingye. They did this so that the blast furnaces at Scunthorpe would not be closed. Jonathan Reynolds, the business minister said: "This is a great vote of confidence for...

Prices of copper rose on Monday, after higher consumer spending raised hopes that metals demand would increase in China. By 0950 GMT, the benchmark three-month price of copper at the London Metal Exchange had risen by 0.2% to $9,660 per metric tonne. Metals investors were focused on retail sales that exceeded expectations, even though China's factory production growth in May was at a six-month minimum. You've still got all of these consumer products, like washing machines, air conditioners and electric vehicles. "As long as people continue to buy all of that stuff, it is good for base metals," Dan Smith...

Gold prices fell on Monday, as investors assessed the impact of the ongoing Israel/Iran conflict. They also focused on the Group of Seven Leaders meeting and Federal Reserve's policy announcement later in the week. As of 0854 GMT spot gold dropped 0.5% to $3415.36 per ounce after reaching its highest level since the 22nd April earlier in session. U.S. Gold Futures fell 0.5% to $3434.50. Analyst Giovanni Staunovo at UBS said that geopolitical tensions will not be fading in the near future, and rates are likely to continue to fall. This should give gold a boost. Iranian missiles hit Israel's...

The Shanghai Futures Exchange saw most metals trade lower on Monday as mixed Chinese economic data reinforced investor caution. Escalating tensions between Israel, Iran and other countries also weighed on investor sentiment. As of 0224 GMT the SHFE's most-traded contract for copper was unchanged at 78.390 yuan per metric ton ($10,910.69), while zinc dropped 0.8% to 21.780 yuan. Aluminum fell 0.2% to 20,375 yuan and nickel was down 0.6% at 119,370. Lead also declined 0.3%. Tin edged up 0.2% to 264,820. Metals analysts at a Beijing futures company said that the conflict has created a new level of uncertainty in...

Gold rose on Monday for the fourth consecutive session, reaching a high of nearly two months, after intensified clashes over the weekend between Israel and Iran stoked fears about a wider regional conflict. This pushed investors to safe-haven investments. As of 0246 GMT spot gold rose 0.3% to $3442.09 per ounce after reaching its highest level since the 22nd April earlier in session. U.S. Gold Futures rose 0.3% to $3.461.90. The demand for safe-haven gold is being boosted by the rising political risk premium due to the Iran/Israel conflict, said Kelvin Woong, senior analyst at OANDA, Asia Pacific. We have...