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The oil prices were marginally lower on Thursday, after big gains in the previous session. This was due to the stalemated?peace negotiations between Iran and the United States and both nations maintaining restrictions on trade flowing through the Strait of Hormuz. Brent crude futures dropped 15 cents, to $101.76 per barrel. On Wednesday, Brent crude futures settled above $100 for the very first time in over two weeks. West Texas Intermediate futures dropped 14 cents to $82.80. Both benchmarks closed Wednesday more than $3 higher after larger-than expected gasoline and distillate stock drawdowns in the U.S. and the lack of...

Tax deadlines in the U.S., such as April 15, are often met with both anticipation and dread -- the "administrative grind" of filing and the possibility of a windfall refund. This year's refund may be much larger than usual and could not come at a better time. Goldman Sachs economists estimate that tax refunds will be 17% higher this year than they were last year. This means consumers could receive $50 billion more by the end of the month compared to last year. The increase in fuel prices following the Iran War two months ago should provide a much-needed boost...

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets Donald Trump unilaterally extended a ceasefire in the Iran War beyond the deadline of Wednesday, but it is unclear whether other parties to the conflict have agreed. This partly explains the lack of reaction from crude oil prices to what was otherwise viewed as a relief sign. Below, I'll explain more. Check out my newest column about why Kevin 'Warsh' may struggle to please Trump as Fed chair. Listen to the Morning Bid Daily Podcast, where I talk about oil's response to...

Kevin Warsh believes that the Federal Reserve will be successful if no one talks about inflation. The Fed nominee is unlikely to be able to please President Obama anytime soon in order for him achieve this goal. Trump reiterated his position on interest rates just over an hour before Warsh's confirmation hearing began in the?Congress. He told CNBC that he would not be happy if the Fed Chair?didn't lower borrowing costs as soon as she took office. Warsh was grilled by the Senate Banking Committee for more than two hours. He defended Fed independence and insisted that Trump never asked...

Wall Street stocks followed their global counterparts down on Tuesday, and crude prices continued to rise as optimism faded over peace negotiations and the expiration of the U.S. Iran ceasefire loomed. The three main?U.S. The three major?U.S. Iran has not yet decided whether it will send a delegation for peace talks in Islamabad at the eleventh hour after U.S. troops seized an Iranian oil tanker on international waters as part of President Donald Trump's ban. Chuck Carlson is chief executive officer of Horizon Investment Services, based in Hammond, Indiana. "What's going on in the Middle East will be the primary...

The following are some key quotes from traders and analysts at the FT Global Commodities Summit. MARCO DUNAND MERCURIA CEO You'd expect that China would try to secure more oil from other sources, given its dependence on the Strait of Hormuz. In the last two or three weeks, they have been selling crude oil aggressively. "China increased its oil inventories over the last few months, to 1.2 billion barrels. They have allowed refiners to use these commercial stocks." They may have been optimistic about their ability to reopen Hormuz, and they didn't feel the need to purchase crude oil now...

Wall Street stocks fell, and global equities also declined as optimism faded over the peace talks. Also, the U.S. - Iran ceasefire was set to expire. The U.S. stock market?indexes fell, gold declined and U.S. oil?advanced. The U.S. Military announced that it had seized in international waters a tanker "linked" to Iran, in an apparent attempt to enforce a ban as the clock ticked towards the expiration of the ceasefire. Washington expressed its confidence that the peace talks between Iran and Pakistan would continue. Pakistan awaits confirmation from Iran on whether it will send a delegation to Islamabad in a...

Austria released the first batch of crude oil from its reserves on Monday, as part of a coordinated plan that was agreed upon by member countries of the International Energy Agency last month in order to counteract 'the impact of 'the iran war. The IEA announced last month that Austria was one of 32 countries who had agreed to release a total of 400 million barrels from strategic oil stockpiles. This is the sixth coordinated release since the agency's inception in the 1970s. Austria's Economy Ministry, which is also in charge of Energy, announced that its first release was being...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets Stop-go, stop-go. The Friday market excitement at the opening of Strait of Hormuz was tempered again on Monday, as Iran's green light turned to red once again over the weekend due to?the United States continuing blockade of Iranian port. As Iranian troops opened fire on tankers and the U.S. seize an Iranian cargo vessel, tensions grew. The markets and the belligerents are not sure what exactly was agreed before Iran temporarily opened the waterway on Friday. Below, I'll go into more detail. Listen...

The U.S. Dollar climbed from its lows, and the stock markets wobbled as tensions in the Middle East reduced the number of shipments into and out of Gulf. Traders were still holding on to hope that a solution would be found. The Iran war ceasefire, which was supposed to last until Tuesday, is now in doubt, after the U.S. seizes an Iranian cargo vessel and the top military command of Tehran vows to retaliate. Iran has reinstated its de facto closing of the Strait of Hormuz despite Kpler data showing that over 20 vessels carrying metals, oil products, gas, and...

Chris Wright, the U.S. Energy secretary, said that he believes gas prices are at their peak but predicts they may remain above $3 a gallon for next year. The U.S. and Israeli war against Iran, and the?Iranian attacks on neighboring countries have caused gas prices to rise, creating political pressure for Donald Trump in advance of the midterm elections where his Republican Party is expected to defend a slim majority in the Senate, and the House of Representatives. Gas prices below $3 per gallon could happen this year. It might not be until next year. He told CNN's "State of...

Lebanese president Joseph Aoun stated?on? Friday that the ceasefire agreement reached by his country would be "transformed" into "permanent agreements." He did not specify whether he meant a potential peace deal with Israel. His televised speech was his first since the U.S. brokered on Thursday a ceasefire that ended six weeks of fighting in Israel between Iran-backed Hezbollah and Israel. In the text of this deal, Israel and Lebanon will hold direct talks in order to achieve "peace between?the two countries." Aoun expressed gratitude to President Donald Trump of the United States and other regional countries who helped secure the...

Cemex reported Thursday record core earnings for the?first quarter and reaffirmed its full-year forecast, as a result of cost-cutting and price discipline by the Mexican cement maker. Operating earnings before taxes, depreciation, and amortization (EBITDA), which are compiled by LSEG, rose 34% to $794 millions from a previous year, exceeding the analysts' expectations of $696. Cemex's 'disciplined pricing' and the cement volume recovery in Mexico boosted net sales by 11%, which was better than expected. In a press release, Chief Executive Jaime Muguiro stated that the results showed a "structurally strengthened" company with an improved earnings profile. Muguiro, who took...

Mexico's Economy minister Marcelo Ebrard acknowledged on Wednesday that tariffs will likely remain in place on the country's automotive and steel sectors, regardless of whether or not a trade agreement with the U.S., Canada, and other countries is renewed. Ebrard said to reporters at an event in Mexico City on Wednesday that we shouldn't look back nostalgically on a time without tariffs. "We know that it's very hard to imagine tariffs disappearing in the automotive industry. Steel and aluminum have always been our priorities. We are trying to find ways to reduce tariffs. He made his comments just one day...

The price of copper rose on Wednesday, as President Donald Trump extended a ceasefire agreement with Iran. However, lingering uncertainty over the Middle East conflict limited gains. In official open-outcry trade, the benchmark?three-month?copper price on London Metal Exchange rose 0.3% to $13,270 per metric tonne. This month, the renewed premium in Comex copper over the LME benchmark has been a key feature of the copper markets for 2025. It encourages shipments to the United States. More copper is expected to flow into the United States. While the premium price persists until the end of July, a decision will be expected...

According to Mercuria's top metals analyst, the global aluminium market has experienced a "black-swan" event as disruptions caused by the Middle East war have triggered a supply shock. This will?lead? to major shortages in this year. Around 7 million metric tonnes of aluminium is smelted in the region each year, which represents about 9% of global production this year. Aluminium is used in the construction, transport and packaging industries. Nick Snowdon of Mercuria's metals & mining research said that the scale of supply shock in the aluminium industry is "probably the biggest single supply shock a metals market in post-2000...

The Financial Times reported that U.S. trade representative?Jamieson G. Greer told American allies to 'pay more' for critical minerals sourced outside of China. Greer, in an FT interview, said that U.S. allies would have to be willing to pay a premium for minerals that are sourced within a group of?trading partner countries, including Europe. Greer said in an interview that "there is a security premium we all pay. I call it the national security fee. We will pay this premium to have a safe supply chain." Greer, who has been drafting a draft of detailed information to share with partners...

Four sources familiar with the matter said that HSBC is hiring JPMorgan executive James Willis as its global precious metals sales director. Mark Augustynak, formerly of ICBC Standard Bank, was recruited by HSBC this month to lead its global metals trading division. HSBC is a market'maker' and a clearer on the London Over-the-Counter Market, where participants do not trade via an exchange but directly with one another. Each day, London clears 20 million troy-ounces of gold worth $96 billion at current prices. The appointments are part of a wider reshuffle in the trading and sales departments at major bullion bankers...

Mexico's president Claudia Sheinbaum said on Monday that Mexico is interested in reaching an agreement, before completing the review the U.S. Mexico-Canada Trade Pact, concerning the exchange of automobiles, steel and aluminum. Sheinbaum addressed a press conference in the morning as U.S. trade representative Jamieson Greer visited Mexico for talks. Sheinbaum stated that "we care about steel, aluminum and automobiles." "We hope a preliminary agreement can be reached." Mexico exports mostly vehicles and auto parts as well as machines and mechanical equipment to the United States. The USMCA Review talks this year are 'critical' for Mexico. It has been spared...

According to a presentation on the deal, Brazilian rare earth miner Serra Verde will receive price floors for four of the rare earths as part of a 15-year contract with the U.S. government and private investors. Some critics have suggested that price floors, designed to equalize the playing field between China and other dominant producers of rare earths, could distort the markets. China produces 90% of the world's rare earths. The U.S. and Europe are also racing to develop their own domestic rare earths industries, which are vital for applications in electronics, defence, and energy transition. As part of an...

The U.S. is hosting further discussions in the coming weeks for the Group 20 major economies about the impact of war in the Middle East on food and fertiliser, as they 'continue to push for coordinated actions. The U.S. will make this pledge in a statement by the chair of the G20. It will be made during a meeting between G20 finance minsters and central bankers held on April 16 at the Spring Meetings of the International Monetary Fund (IMF) and World Bank. Before its official release on Monday, a copy of the statement was released instead of a communiqué...

The gold price fell Monday due to the stronger dollar. Dollar and inflation fears after another closure of the?Strait of Hormuz drove oil prices higher. As of 1103 GMT spot gold was down 0.8% to $4,790.59 an ounce after reaching its lowest level since April 13 earlier in session. U.S. Gold Futures for June Delivery fell by 1.4% to $4.811. Oil's rise after the weekend chaos surrounding the Strait of Hormuz ensures that inflation risks are palpable and offsets gold's appeal as a safe haven asset. Han Tan, Bybit's chief market analyst, said that the dollar has been the safest...

USA Rare Earth announced on Monday that it would acquire Brazilian 'rare earths' miner Serra Verde, for $2.8 billion, in cash and shares. This is another step in the company's broader strategy to create a unified operation encompassing mining, processing, and magnet -making. A statement stated that the U.S. firm will pay $300 in cash for the transaction and 126.9 in newly-issued shares. The deal is expected to be completed in the third quarter 2026. Serra Verde said it also entered into a 15 year agreement on Monday to supply 100% its production in the initial phase of the mine...

Gold prices dropped on Monday due to the stronger U.S. dollar and renewed inflation concerns?after a second closure of the Strait?of?Hormuz?pushed oil prices higher. As of 0930 GMT spot gold was down 0.7% to $4,792.89 an ounce after reaching its lowest level since April 13 earlier in session. U.S. Gold Futures for June Delivery fell by 1.4% to $4.812.60. Oil's rise after the weekend chaos surrounding the Strait?Hormuz ensures that inflation risks remain tangible, offsetting the allure of gold as a safe haven asset. Han Tan, chief analyst at Bybit, said that the precious metal has taken a backseat in...