United States

Oil prices increased on Monday following days of titt-for-tat attacks?by the United States and Iran?in the Middle East, which highlighted the fragility of the interim peace agreement and once again slowed down energy shipping through the Strait of Hormuz. Brent crude futures rose 52 cents or 0.672% to $72.51 per barrel at 2313 GMT, while U.S. West Texas Intermediate was up 71 cents or 1.03%, trading at $69.94. Brent crude dropped 10.6% last weekend, its third consecutive weekly decline. Crude shipments through the Strait increased last week to the highest level since February, when the U.S. - Israel conflict with...

IMF Chief Economist?Pierre-Olivier Gourinchas stated on Friday that strategic petroleum releases prevented a more rapid rise in oil prices due to the Middle East war. However, the global economy is at risk if the fragile ceasefire agreement between the U.S. Gourinchas said in an interview that the reserves of the countries were now depleted. This meant they would have less maneuvering room if the conflict flared up again. Gourinchas has warned for years that geopolitical tensions can lead to an even more fragmented global economy. He did not give any details on a new forecast the IMF will release on...

Rescuers spent the night on Friday searching for thousands of missing Venezuelans and hundreds trapped under rubble after two of the largest earthquakes to hit Latin America in modern history shook areas around Caracas. The government did not provide a total estimate of casualties from the magnitude 7.2 to 7.5 earthquakes that struck 160 km (100 mi) west of Caracas, on Wednesday. The U.S. Geological Survey predicts more than 10,000 deaths. A website designed to track missing persons and shared by leaders of the opposition in the politically polarized country listed more than 49.600 people who were unaccounted for. The...

The oil prices dropped on Friday morning, and are headed for steep losses this week amid easing supply concerns. More oil tankers have left the Strait of Hormuz as stranded vessels leave. Brent crude futures dropped 19 cents or 0.25% to $75.07 per barrel at 0055 GMT. U.S. West Texas Intermediate was down 13 cents or 0.18% to $71.79 per barrel. The benchmark contracts both rose more than 2% after an unknown projectile hit a cargo ship near Oman. This prompted the U.N. shipping agency to suspend their voluntary evacuation scheme. Two U.S. officials said that Iran shot at the...

International Monetary Fund?said Thursday that it had seen energy and commodities prices drop since?the U.S. and Iran agreement to?halt?hostilities and reopen?the Strait of?Hormuz.?But it will take some time for prices to return to normal and Gulf trade to resume. IMF spokesperson Julie Kozack said at a press briefing that the Fund would decide on whether or not to stick with the three growth scenarios that it had presented in April, which were dependent on the outcome of the Iran war. Kozack said that as the Strait of Hormuz was closed in May and benchmark oil prices remained above $100 per...

The Gulf peace may reduce pump prices but it won't solve the Federal Reserve’s biggest problem. That is, a U.S. Economy that was already overheating prior to the Iran War. Oil prices falling to levels seen before the war could spur demand and increase cost of living fears at a crucial time. This sounds like "damned-if-it does, damned-if-it doesn't" dilemma. Normalizing fuel prices may not solve the Fed's dilemma over inflation and interest rates as quickly as President Donald Trump or the Fed would like. The 'inflation debate' before the conflict was ambiguous, as markets sided with the Fed's guidance...

U.S. Secretary Marco Rubio met with the leaders of the United Arab Emirates (UAE) and Kuwait (Kuwait) on Wednesday. He pledged not to undermine the security of these Gulf allies, as he tried to reassure Gulf Allies sceptical about a 'proposed deal' to end the U.S. - Israeli war against Iran. The U.S. and Iran?accord signed last week is the first between American and Iranian Presidents since the?1979 Islamic Revolution. It includes a $300 billion fund proposal and the lifting of certain sanctions against Tehran. Rubio, who arrived in Abu Dhabi, the capital of the UAE late Tuesday night for...

Eleven commodity day traders have offered to donate PS1million ($1.32 million) to a fund for crisis situations as part of a deal that will end a three year investigation by Britain's market regulator into possible violations of competition law. The Financial Conduct Authority announced on Wednesday that it considered the traders' obligations appropriate. This included changing how they handled sensitive information, annual training and a payment likely to exceed any FCA penalty. The traders who mainly traded in?energy futures have proposed to arrange a contribution to Crisis and Resilience Fund. This is a government scheme which?provides financial support to families...

SK Hynix, a South Korean company, said it planned to?raise up to $29.4billion through a U.S. -stock market listing. This would be one of the largest?listings globally. If completed at the top end, the deal would be the second-biggest share sale after a record $85.7 billion initial public offering by SpaceX earlier this month, surpassing Saudi Aramco's $25.6 billion IPO in 2019and Alibaba'ssimilar-sized offering in 2014. The planned listing reflects a strong global appetite for AI linked equities even as volatility rises across U.S. technology and semiconductor markets. This comes after Elon Musk's SpaceX and other record-breaking equity offerings in...

SK Hynix, a South Korean company, said it plans to raise as much as 45.45 trillion won ($29.43billion) through a U.S. IPO. The company is aiming to increase its 'investor base' and 'production capacity for artificial intelligence chips. The listing of American depositary receipts, if completed to the top, would be one of the largest ever in history. It is comparable in size with Saudi Aramco’s IPO scheduled for?2019. Investor and analyst reactions to the latest news: CLSA SENIOR ANALYST SANJEEV RANA "If (SK Hynix can) get a valuation multiple that is similar to Micron for example, the local shares...

United?Nations?Secretary-General Antonio Guterres stated on?Wednesday? that climate adaptation should be treated as an important priority by governments -- and valued appropriately by the financial system. As climate risks increase and funding gaps widen, this must become a top priority. Guterres said that as droughts, flooding and other extreme weather conditions affect communities around the world, adaptation has been chronically underfunded and undervalued. "Finance Ministers, Central Banks, Planning Ministries and Public Investment Authorities must 'treat climate risks as core economic policies in order to mobilize greater domestic resources," said he, urging government to 'incorporate climate risk into everything from fiscal policy...

The Republican-majority U.S. Senate passed legislation Tuesday that would halt U.S. military action against Iran. However, it is not clear what impact it will have on the war while President Donald Trump's Administration negotiates a deal with the Islamic Republic. The Senate voted in favor of a concurrent resolution that was passed by the House of Representatives earlier this month. This reflects a growing concern among Trump's Republicans over the unpopular conflict which began on February 28, despite the majority of Republicans voting for it. Four 'Republicans joined all Democrats except one in voting for the resolution. ?Two Republicans did...

Ferrari and BMW have introduced new models with lightweight, cost-effective aluminum wiring. This is accelerating the shift away from copper as the dominant material for electric wiring ever since the invention two centuries ago of the electric batteries. JPMorgan predicts that the decisions will affect around 2% global copper demand in this year. Tesla and Chinese EV makers have also made similar moves. The structural increase in copper prices could lead to even more copper being switched over to aluminium. This is due to the increased demand for data centres and green energy, as well as the shortage of copper....

Martin Marietta Materials announced on Monday that it will merge with Lhoist North America, a limestone supplier in North America, through a cash and stock deal valued at $13.5 billion. The building materials firm is looking to tap into the growing demand for lime-based products. The shares of the Raleigh, North Carolina based company fell about 3% during premarket trading. The company stated that Martin Marietta would?use a combination of $7 billion cash and $6.5 billion worth of shares to fund the deal. The company expects to achieve annual cost synergies of about $85,000,000. Martin Marietta CEO Ward Nye stated...

Guinea's mines minister said that the country aims to be a regional hub for gold refining. This is part of a wider push by West African producers to 'process bullion locally instead of exporting it into the Middle East. Gold prices are high, and the move aims to preserve more value for consumers at home. Bouna Sylla, Mines Minister Bouna Sylla said over the weekend that there was no problem if each country (in West Africa) had a refinery. "If you are not competitive in the market, your refinery will either fail or succeed due to economics and not politics."...

Gold prices fell on Monday as recent hostilities in Gulf added to inflation fears and expectations of rate hikes by the U.S. Federal Reserve, putting pressure on the non-yielding material. As of 1053 GMT, spot gold was down by 1.3% to $4,036.19 an ounce. U.S. Gold Futures for August Delivery fell by 1.1%, to $4.051/oz. Bullion experienced a weekly decline of 1.7% on Friday, and is on course for a monthly loss in excess of 10%. A U.S. official announced on Sunday that Iran and the United States had agreed to cease recent hostilities and re-start talks regarding their dispute...

Gold fell on Monday, as recent hostilities in the Gulf increased inflation fears that fueled expectations of a rate hike by the U.S. Federal Reserve. This pushed the non-yielding material down. As of 857 GMT, spot gold was down by 0.9% to $4,049.90 an ounce. U.S. Gold Futures for August Delivery lost 0.8%, to $4.063.50/oz. Bullion experienced a weekly drop of 1.7% on Friday, and was on course for a monthly decline of over 10%. A U.S. official announced on Sunday that Iran and the United States had agreed to cease recent hostilities and resume talks about their dispute over...

Gold prices?reduced on Monday, as the recent U.S. - Iran?strikes in the Gulf pushed up oil prices. Expectations of U.S. Federal Reserve rate hikes also weighed on this non-yielding material. As of 0602 GMT, spot gold was down by 0.8%, at $4,057.77 an ounce. U.S. Gold Futures for August Delivery fell 0.6% to $4072.20. Metal was heading for a fourth consecutive monthly loss of 10.5%. Tim Waterer is the chief market analyst for KCM Trade. He said: "U.S.-Iran were back at it over the weekend with new military strikes reported from both parties. This casts doubt on how long oil...

Gold prices?reduced on Monday, as the recent U.S. - Iran?strikes in the Gulf pushed up oil prices. Expectations of U.S. Federal Reserve rate hikes also weighed on this non-yielding material. As of 0242 GMT, spot gold was down 0.7%, at $4,061.35 an ounce. U.S. Gold Futures for August Delivery lost 0.5%, to $4076.40. Metal was heading for a fourth consecutive monthly loss of 10.4%. Tim Waterer is the chief market analyst for KCM Trade. He said: "U.S.-Iran were back at it over the weekend with new military?strikes from both parties. This casts doubt on how long oil will remain at...

The Mexican silver miner Sinda raised $213 million in its U.S. initial public offering. Shares of the company fell 10% on their debut at the New York Stock Exchange. Stocks of the San Miguel de Allende, Mexico based company opened at $10.80 each, lower than the $12 offered price. Sinda sold 17,75 million shares within the marketed price range of $11.25 - $13.25 per share. In recent months, a growing number of mining firms have turned to the capital markets to fund their capital-intensive operations and capitalize on the high metal prices. Pricing of the IPO below the middle of...

Gold fell on Friday for a fourth consecutive week, due to the resilient dollar and expectations that U.S. interest rates will be raised faster in order to curb inflation. By 0441 GMT, spot gold had fallen 0.6% to $4.002.77 an ounce. U.S. Gold Futures for August Delivery fell 0.7% to $4017.30. Bullion is on course for a 3.8% loss this week after slipping below $4,000 on Wednesday, the lowest level since November 2025. The rapid repricing by the hawkish Fed created a strong bullish movement in the U.S. Dollar, which led to the significant decline in gold prices, said Kelvin...

Gold prices reversed course and edged up on Thursday, after a U.S. reading of inflation?came in largely line with expectations. This eased some concerns about upcoming Federal Reserve rate increases and pushed the dollar and Treasury yields down. As of 11:12 am EDT (1512 GMT), spot gold rose 0.2% to $4,007.65 per ounce after dropping as much as 1% in earlier sessions. U.S. Gold Futures for August Delivery rose?0.3%, to $4.021.00 an oz. "PCE data appears to have been in line with expectations. David Meger is director of metals at High Ridge Futures. He said that it's a big reason...

Gold dropped for a third straight session on Friday, remaining near the more than seven-month high it reached the previous session as the dollar rose on expectations of a rate hike in the United States. Spot gold dropped 0.5%, to $3.982.49 per ounce at 1054 GMT. ?U.S. Gold futures for August deliveries edged down 0.3% to $3.997.60 an oz. The U.S. Dollar hit its strongest level in over 13 months on Thursday. This made greenback-priced metals more expensive for holders of other currencies. CME FedWatch data shows that 66% of the markets believe that the U.S. Federal Reserve is likely...

Gold prices are steady?on Friday?but remain near the seven-month low reached in the previous session as the expectation of interest rate increases in the U.S. weighs on the precious metal. As of 0843 GMT, spot gold remained at $3,999.33 an ounce. U.S. gold futures for August delivery slipped 0.2% to $4,014.90/oz. CME FedWatch data showed that the markets currently believe there is a 66% probability?that rates will be raised by the U.S. Federal Reserve in September. Nikos Tzabouras is a senior market analyst at Jefferies' Tradu.com. ETF outflows and the rotation to equities fueled by the AI boom, are factors...