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What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets Brent crude traded at almost $90 per barrel on Tuesday, after a 5% increase yesterday. The U.S.'s and Iran's hard-line positions on any potential deal have shattered hopes that the Strait of Hormuz could reopen. Below, I will go into more detail. Check out my column about Trump's latest attack on the independence of the Federal Reserve - and how it comes at a nervous time for bond markets. Listen to the Morning Bid podcast where we talk about Nvidia's $500 Billion AI...

Asian share markets followed Wall Street's lead on Monday, after a weak U.S. employment report reduced the risk of an increase in borrowing costs near-term. However, a lackluster progress in Gulf peace negotiations saw oil prices rise. Iran said?on Sunday? that an agreement with Oman to define new shipping lanes through the Strait of Hormuz is in its final stages. However, it reiterated that this waterway will only be reopened once the United States meets other conditions. Brent crude increased 0.6% to $84.04 per barrel, as the shipping volume through this vital waterway was minimal. U.S. crude climbed 0.5% to...

Wayne Cole gives us a look at what the day will bring for European and global markets. Asian stocks are mostly higher following the Wall Street rally on Friday, but European share futures are down as oil prices rise amid confusion about the Strait of Hormuz. Treasury Secretary Scott Bessent claimed over the weekend that the'strait' would become "irrelevant", as oil will eventually be redirected via pipelines. This gave analysts the impression that the White House is trying to wash their hands of this whole matter. Iran announced on Sunday that it was nearing completion of a deal to define...

China is doing all the heavy lifting to reduce crude oil demand in?Asia as a way to compensate for the reduced shipments of Middle East oil due the the Iran?war. The world's largest oil importer reported arriving 8.41 million barrels a day (bpd), up from a near decade-low of 7.12 mln in June, but still 24.3% less than July last year. When June and July imports combined, this gives a?average of 7.78 million bpd over the last two months. The average for the three-month period ending in February was 11,99 million bpd. This is 4,21 million bpd less. The United...

The Asian share market matched Wall Street's gains on Monday, after a weak U.S. employment report reduced the risk of an increase in borrowing costs near-term. However, a lack progress?in Gulf Peace talks led to oil prices?creeping?higher. Iran announced on Sunday that it was nearing the final stages of a deal that would define new shipping lanes for the Strait of Hormuz. However, the Iranian government reiterated that this waterway will only be reopened once the United States meets other conditions. Brent crude increased by 0.9% to $84.32 per barrel, as the shipping volume through this vital waterway was minimal....

Are you looking for inspiration? Weekend Reads?reports on what the Open Interest team is reading, watching and listening to every Friday. This week, the picks focus on America's reliance upon Chinese goods, U.S.?overheating?, geothermal energy, green steel, and risks emanating from bond market. We're reading this 'weekend'... MIKE DOLAN. ROI Finance & Markets columnist. Mary Lovely and Christine Wan from Washington's Peterson Institute discuss how U.S. Policymakers have not made much progress in reducing America’s dependency on Chinese goods and services despite many years of effort. Direct trade declined sharply over the seven-year period from 2010 to 2024. However, direct...

Stella Qiu gives us a look at what the future holds for European and global markets. The markets are mostly in a holding pattern, as traders have stayed on the sidelines ahead of a U.S. Payrolls Report that is notoriously difficult to predict from month to month. The stakes could not be higher, as the markets are unable to decide what the Federal Reserve's next move will be. A rate hike of about 54% is priced in, which makes it a coin flip. This is exactly the type of ambiguity that new Chair Kevin Warsh enjoys cultivating. There is a...

Oil prices rose on Friday as concerns grew over the opening of the Strait of Hormuz. Iran and Oman proposed banning hostile vessels from the Strait of Hormuz, while imposing heavy fines for those who violated these rules. Brent crude futures rose by?80 cents, or 0.97 percent, to $83.29 per barrel at 0303 GMT. U.S. West Texas Intermediate Futures rose 64 cents or 0.83% to $77.93. Oil futures settled at $3.03 a barrel as Iran considered a bill that would ban U.S. vessels and Israeli vessels from entering the Strait of Hormuz, where a fifth of world oil and LNG...

Investors weighed whether the progress of Iran-Oman talks could pave the path for a U.S. and Iran peace deal to end the five-month conflict and reopen Strait of Hormuz. Brent crude futures fell 37 cents or 0.5% to $79.08 per barrel at 0024 GMT. ?U.S. West Texas Intermediate futures fell 53 cents or 0.7% to $74.69 per barrel. Brent prices were slightly higher on Wednesday while WTI was a little lower. Yuki Takashima is an economist at Nomura Securities. She said that there was some selling pressure following reports of progress in the talks between Iran and Oman. Investors are...

The major stock indexes were mixed on Wednesday. SpaceX shares and Advanced Micro Devices declined, and U.S. oil prices eased as signs of progress towards a peace agreement with Iran emerged. Two?regional? officials and a senior Iranian source said that a proposed agreement between Iran, Oman and the United States to end the five-month war between Iran and America would give Tehran control of ships entering the Gulf via the Strait of Hormuz. This is one of the largest concessions to Iran yet. U.S. West Texas Intermediate Futures dropped 55 cents or 0.73% to $75.22 per barrel. Brent crude futures...

India's Oil and Natural Gas 'Corp (ONGC) hopes to sign agreements soon with Venezuela 'to operate two oil 'blocks under the South 'American nation's 'new petroleum 'law', its finance chief'said 'on Wednesday. ONGC Videsh (ONGC Videsh is the overseas investment arm of the state-run ONGC) holds a stake of 40% in the San Cristobal oil field, and along with other Indian firms, a stake 18% in the Carabobo-1 Project. "Now, we are able to work freely on Venezuelan projects." We had restricted our operations in Venezuela because of sanctions-related risks," said finance director Anupam agarwal on a?analyst's call following the...

India's Oil and Natural Gas 'Corp (ONGC) hopes to sign agreements soon with Venezuela 'to operate two oil 'blocks under the South 'American nation's 'new petroleum 'law', its finance chief'said 'on Wednesday. ONGC Videsh (ONGC Videsh is the overseas investment arm of the state-run ONGC) holds a stake of 40% in the San Cristobal oil field, and along with other Indian firms, an 18% share in the Carabobo-1 Project. "Now, we are able to work freely on Venezuelan projects." We had restricted our operations in Venezuela because of sanctions-related risks," said finance director Anupam agarwal on a?analyst's call following the...

Aluminum?prices rose to a seven week high on Tuesday, as 'concerns about supply from the Gulf coincided wth Norsk Hydro announcing a reduction in feedstock production?at?its Brazilian facility. Benchmark three-month "aluminum" on the London Metal Exchange rose 1.9% at 0850 GMT to $3,378.50 per metric ton, after reaching $3,382.5 as its highest level since June 22. Aluminum extended its gains for a seventh session in a row after Norsk Hydro announced that its Alunorte facility in Brazil had reduced alumina production to 50% of its capacity due to the reduction of natural gas supply. The plant's annual production capacity is...

Investors focused on inflation data to get clues about the U.S. rate outlook. Gold spot was down 0.3% at $4,374.82 an ounce as of 0548 GMT after reaching its highest level in the session since June 5, $4,434.82. U.S. Gold Futures increased 0.4% to $4435.00. Ahmad Assiri is a Research Strategist for Pepperstone. He said that the move higher in gold's early session trading above $4,400 was primarily driven by renewed flows and a noticeable shift in metal market sentiment. If?this change of sentiment continues to attract more flows, this could be an important factor in determining if gold can...

Barrick Mining's second-quarter profits were below estimates on Monday, as higher costs in its?gold?operations countered rising bullion price. The company also struck a $1.95billion deal with Newmont for the settlement of disputes regarding Nevada Gold Mines. Newmont has consented to Barrick’s planned initial public offer of its North American assets of gold, the companies announced in a press release. This opens the way for Barrick to complete an IPO by the end 2026. Barrick is searching for a new chief executive officer to lead its non-North American operations. Mark Hill, the CEO of Barrick North America, has stated that he...

Gold prices fell on Monday due to a stronger dollar and investors awaiting key U.S. data about inflation that could influence expectations of the Federal Reserve. By 09:33 am EDT (1333 GMT), spot gold had fallen 0.2%, to $4335.27 an ounce. After an unexpected decline in U.S. Nonfarm Payrolls, it reached its highest level since Friday. U.S. Gold Futures dropped 0.1% to $4,394.00. Jim Wyckoff is a market analyst at American Gold Exchange. He said, "Gold is under pressure from the firm dollar index today and is taking a break?ahead?of a key inflation report due later this week." Dollar-priced gold...

Gold prices fell on Monday, despite hitting a seven-week peak in the previous session. The stronger dollar was to blame, and investors are looking forward to inflation data, which will provide new clues about the policy direction of central banks. As of 1122 GMT, spot gold was down 0.2% to $4,332.68 an ounce. After weak U.S. payroll data, prices hit their highest level since June 17, on Friday. U.S. Gold Futures dropped 0.2% on Monday to $4,391.60. Dollar gained 0.2% making greenback bullion prices more expensive for holders of other currencies. Gold remains capped by the U.S. - Iran conflict...

Gold prices fell on Monday, as investors took profits following a seven-week high. Meanwhile, markets waited for new clues from U.S. inflation figures to determine the Federal Reserve's rate policy. As of 0200 GMT, spot gold was down 0.5% to $4,322.28 an ounce. After a weaker than expected?U.S. jobs data. U.S. Gold futures dropped 0.4% on Monday to $4,381.60. Gold is slightly lower as it succumbs a little to profit-taking after last week's NFP-inspired gains. This is more of a natural stabilisation than a significant shift in sentiment. I expect gold will remain above $4,300 in the near term. The...

According to a document seen by, the U.S. Export-Import Bank will lend $58 million to three companies that deal with critical minerals as part of President Donald Trump's efforts to wean America off Chinese imports and bolster American mining and processing. The funding coincides with Trump's Friday meeting with executives of some of the largest mining companies in the world to highlight the country's needs for better supplies. John Jovanovic said, "Critical Mineral Security is?National Security," adding that the funding will "fortify supply chains, restore vital industries which support high-paying American Jobs and protect everyday Americans from supply surprises." Westwater...

The U.S. Patriot system, first used in 1991 in the Gulf War, has seen a sharp increase in demand this year. Supplies of interceptors have been depleted due to the war in the Middle East and Ukraine's fight against the Russian invasion. Ukraine urgently seeks more Patriot interceptors to defend itself against the nightly barrages of Russian ballistic rocket strikes. The Iran War has depleted the arsenals of the U.S., the Gulf and some European countries. Here are some details on the Patriot air defense system, which is one of the most sophisticated weapons in the U.S. arsenal. What is...

The price of copper remained above $14,000 on Friday, as tighter inventories and?supply worries put the metal in a position to have its best week in nearly three months. Traders?awaited the news from the?mining panel convened by the?U.S. Donald Trump, President of the United States. In official open outcry, benchmark three-month copper at the London Metal Exchange fell 0.1% to $14.090 per metric ton. The copper price was set to end the week with a 2.2% gain, its biggest weekly gain since the week of?May 8th. LME copper reached a six-month peak of $14,369.50 after reports that the Democratic Republic...

James Hardie increased its annual earnings forecast on Friday. It cited synergies from its acquisition of AZEK and manufacturing efficiencies, as well as strong execution across its businesses. The company also reported a 54% increase in its first-quarter profits. As affordability restrictions in the?U.S. grew, pressure was put on the company's Siding & Trim division. New construction activity slowed and distributor inventories were high. The company's previous forecast was $5.25 to $5.41 Billion. It now expects a net sales of $5.56 to $5.72 Billion in 2027. It also raised its forecasted adjusted earnings before taxes, depreciation, and?amortization for the year...

MP Materials, a rare?earths manufacturer, reported on Thursday?second quarter results that 'beat analysts' expectations because of rising sales and the price support agreement it has with the U.S. Government. In after-hours trading, the company's stock rose 2.2% to reach $48.52. Rare earths is a grouping of 17 metals which are used to produce magnets, which turn energy into motion. Washington's deal with MP in July 2025 was designed to loosen China’s grip on these materials which are used for weapons, electric cars and many electronics. MP Materials owns the only rare earths mining operation in North America, and it processes...

The U.S. Commerce Department announced on Thursday that it would block the?exports?of tungsten and battery scrap, as part of an effort to boost domestic recycling and vital mineral production. This move was anticipated after President Donald Trump signed an executive order last week giving federal officials the authority to limit the shipment of scrap that contains valuable critical minerals overseas to China and other nations. The order bans the exportation of so-called 'black?mass', which is basically shredded lithium-ion battery scrap, and scrap containing Tungsten, a metal that is used to harden steel, but also widely used in?defense? applications. This is...