United States

Two sources familiar with the matter on Tuesday said that Binh Son refinery in Vietnam is expected to purchase 1 million barrels West Texas Intermediate crude oil in January. This will be its second purchase within three months, as it increases imports from the United States. Since Trump threatened to impose tariffs against Vietnamese products in April, Vietnam has sought to purchase more U.S. products to close the trade gap. Vietnam wants to import a variety of U.S. products, including farm produce, liquefied gas, aircraft, and crude oil. Sources said that Swiss trader Mercuria had sold the cargo of 1...

Asian shares rallied Tuesday, as investors bet on a Federal Reserve rate cut in December. They also piled into technology stocks around the world, despite concerns that the sector is becoming overheated. MSCI's broadest Asia-Pacific share index outside Japan gained 1%, led by tech stocks. This is a partial recovery of last week's 4% drop. The index is expected to drop 3.8% in the month. This will be its first monthly decrease since March. Japan's Nikkei rose 0.8% at the start of trading on Tuesday, after returning to work on Monday from a long holiday. Last week, the index fell...

On Monday, global stocks rose for the second consecutive session as expectations of a December rate reduction from the U.S. Federal Reserve helped calm recent concerns over stretched valuations in AI while yields on longer-dated U.S. Treasury bonds fell. The stock market dropped last week, with the largest percentage weekly drop since early August. This was due to a lack of optimism about the prospects of an interest rate cut. Other factors included the impact of the prolonged U.S. shutdown on the economy and the lingering concern over high valuations of AI-related firms. Stocks rallied by the end of last...

On Monday, global stocks rose for the second consecutive session as expectations of a December rate reduction from the U.S. Federal Reserve reduced recent concerns over stretched valuations in AI while yields on longer-dated U.S. Treasury bonds eased. The stock market dropped last week, with the largest percentage weekly drop since early August. This was due to market pessimism about the prospects of an interest rate cut and the impact the prolonged U.S. shutdown had on the economy. There were also lingering worries over the high valuations of AI-related firms. Stocks rallied by the end of last week, after New...

Global stocks rose Monday as investors grew more confident that the Federal Reserve will cut rates in December. This helped to offset recent investor anxiety over excessive valuations of tech companies, which has caused volatility this month. The markets are preparing for the release of U.S. retailer sales and producer price data later this week as well as the highly anticipated British budget by Finance Minister Rachel Reeves on Wednesday. Geopolitical events were also a focus. After agreeing to change an earlier proposal, which Kyiv and Europe deemed too favorable to Moscow, the U.S. was working with Ukraine to develop...

After a drop of around 3% last week, oil prices were a little lower on Monday as investors weighed up the prospects of a U.S. interest rate cut against a Russia-Ukraine agreement that could allow more Russian production through a easing of sanctions. After agreeing to modify an earlier version of the deal that was deemed too favorable to Moscow by critics, the United States and Ukraine are set to resume working on a revised peace plan ahead of a deadline set Thursday by U.S. president Donald Trump. Brent crude futures remained unchanged at $62.56 a barrel at 0458 GMT....

The oil prices fell Monday, continuing the losses of last week as Russia and Ukraine peace talks moved closer to a resolution, while the U.S. Dollar strengthened. Brent crude futures dropped 14 cents or 0.22% to $62.42 a barrel at 1:48 GMT. West Texas Intermediate fell 15 cents or 0.26% to $57.91 per barrel. Last week, both crude benchmarks fell about 3% and reached their lowest settlements in over a month. Market participants were concerned that a Russia/Ukraine agreement could lift sanctions against Moscow and flood market with previously sanctioned supplies. The sell-off in oil prices was primarily triggered by...

Five sources said that U.S. sanctions have dismantled what is left of Lukoil Litasco. Litasco was once Russia's largest oil trader, and a competitor to Swiss oil houses and major oil companies. Washington is trying to stop Moscow from funding its war in Ukraine. The new measures also target the state-owned Rosneft. They went into effect Friday. The measures have put Lukoil’s global operations in limbo - from oilfields across the Middle East, to fuel pumps and refining plants throughout Europe. Sources said that Litasco, cut off from the global system of finance, has fired most traders and operational employees,...

European shares dropped on Friday, and it looked like the selloff would continue on Wall Street. Traders were worried about the valuation of tech stocks. The U.S. employment data showed a mixed picture. This added to the traders' insecurity and diminished hopes that Federal Reserve would cut rates this year. Wall Street was led lower by technology stocks on Thursday, despite a positive report from Nvidia about its earnings. Fears of a market bubble fueled by AI were not dispelled despite the chipmaker's good news. Investors continued to dump riskier assets during Friday's Asian trade. At 1219 GMT the MSCI...

On Friday, the Russian rouble reached a five-week-high against the U.S. Dollar on renewed hopes for peace in Ukraine following reports of a U.S.-backed settlement plan. At 1130 GMT the rouble had gained more than 1.3% against the dollar and was 1.2% higher at 11,07 against the Yuan at the Moscow Stock Exchange. During the trading session the rouble reached 78.55 per dollar, its highest level since October 16. The rouble has strengthened despite U.S. sanction against Russian oil companies Rosneft, and Lukoil. These sanctions will take effect on Friday at 1701 GMT. The sanctions will likely reduce the foreign...

By Anna Szymanski LONDON (November 21) What Mike Dolan, the ROI team and I are looking forward to reading, watching and listening to this weekend. The Nvidia boost was short-lived. The U.S. equity market fell on Thursday, despite an initial rally. Both the Nasdaq index and Dow recorded +1,000 points from the peak to the trough. The Nasdaq, which is dominated by tech stocks, saw its largest intraday movement since April's tariff tantrum. Nvidia's $57 billion record third quarter revenue, and its rosy outlook did not calm fears of an AI bubble. Jamie McGeever, ROI's markets columnist, explains that the...

Oil production in Texas is on the rise. Mark Waters owns a shop that sells safety and tools to oil companies. In the past four to six month, Tie Specialties in Odessa in Texas has seen a drop of 25% in sales in the oilfield. Shelves are filled with power tools, wrenches and augers to dig holes. Pegboards display hard hats and gloves as well as various colors of overalls. This is my sixth boom and bust. I've seen it all. Waters, 65, said, "I'd call it slowdown but everyone I've spoken to says that the future for the next...

Barrick Mining, a Canadian mining company, has signed an agreement with the Mali government to settle all disputes relating to the Loulo-Gounkoto Gold Mining Complex until 2023. The dispute centered on the implementation of the new Mali mining codes that increases taxes and gives a larger share of gold mines to the government. The miner - formerly known as Barrick Gold - said that it would drop its arbitration case with Mali before the World Bank dispute tribunal. Mali, in return, will drop all charges and release employees against Barrick, its affiliates and the Canadian miner. The following is a...

Gold prices increased by more than 1% Monday. This was due to the growing expectation of a Federal Reserve rate cut in December and fresh U.S. data that could provide further insight into monetary policy. By 01:43 pm EST (1843 GMT), spot gold was up 1.2% to $4,111.86 an ounce. U.S. Gold Futures for December Delivery settled 0.4% higher, at $4094.2 per ounce. Bart Melek is the head of commodity strategy at TD Securities. John Williams, the New York Fed president, said that U.S. rates could drop "in the short term" without jeopardizing the Fed's goal of inflation and while...

Barrick Mining announced on Monday that it had reached a settlement with the Mali government regarding all their disputes regarding the Loulo-Gounkoto Gold Mining Complex. Shares of the Toronto-listed firm rose by nearly 3%. The Friday report stated that Barrick had agreed in principle to settle the dispute with Mali. In a press release, the Canadian miner announced that it would drop its arbitration case against Mali before the World Bank dispute tribunal. Mali, in turn, will drop all charges and free four employees who are currently in jail and will return operational control to Barrick. Mali's miner ministry didn't...

Gold prices increased on Monday due to a falling dollar and growing expectations that the Federal Reserve will cut interest rates next month. As of 09:12 am, spot gold was up by 0.4% to $4,081.52 an ounce. ET (1412 GMT). U.S. Gold Futures for December Delivery were unchanged at $4,079.30 an ounce. Dollar index fell, making dollar priced bullion more accessible to holders of other currencies. Bart Melek is the head of commodity strategy at TD Securities. Melek continued, "A combination (of lower expectations) and a stronger U.S. Dollar has helped gold in the current environment." John Williams, the New...

On Monday, European Union ministers were to encourage top U.S. officials to implement more of the EU-U.S. July trade agreement by reducing U.S. duties on EU steel as well as removing them on EU goods like wine and spirits. In their first trip to Brussels after taking office, U.S. commerce secretary Howard Lutnick and U.S. trade representative Jamieson Greer would meet EU ministers for trade in a 90-minute lunch meeting. Before that meeting, European ministers met to discuss urgent trade issues including Chinese restrictions on rare earth and chips exports. No IMMEDIATE Breakthroughs Expected Maros SEFCIOVIC, European Trade Commissioner, said...

Gold prices were stable on Monday as the growing expectation of a Federal Reserve interest rate cut in December helped to offset pressures from a strong dollar. As of 1153 GMT, spot gold rose 0.1% to $4,069.10 an ounce. U.S. Gold Futures for December Delivery fell 0.3%, to $4.065.40 an ounce. Gold priced in greenbacks is now more expensive than it was on Friday when the dollar hit a six-month high. "Gold stabilized as investors assessed the prospect of a further Fed rate cut, after New York Fed president John Williams indicated there may be space to lower borrowing rates...

On Monday, European Union Ministers will urge U.S. top trade officials to implement more of the EU-US July trade agreement. For example, by reducing U.S. steel tariffs and removing them from EU goods like wine and spirits. On their first trip to Brussels after taking office, U.S. Commerce Secretaries Howard Lutnick & Jamieson Greer will be meeting EU Ministers for Trade. Lutnick and Greer will be hosted for 90 minutes at lunch by the EU Ministers to discuss important trade issues including Chinese restrictions on rare earths and chips. The United States imposed a 15% tariff on the majority of...

Gold prices fell for the third consecutive session Monday as the dollar strengthened near six-months highs and investors awaited further clarity about the U.S. rate trajectory. As of 0536 GMT, spot gold was down by 0.4%, at $4,045.58 an ounce. U.S. Gold Futures for December Delivery fell by 0.9% to $4.042.50 an ounce. The dollar index has reached near six-month highs and is above 100. If it continues to trade over 100, there will be more pressure on the gold price, said Jigar Trivedi. Senior research analyst at brokerage Reliance Securities. Gold priced in greenbacks is more expensive to holders...

Gold prices fell for the third consecutive session on Monday, as the dollar climbed to six-month highs. Market participants are awaiting more clarity about the U.S. rate path. As of 0353 GMT, spot gold fell 0.4% to $4,051.31 an ounce. U.S. Gold Futures for December Delivery edged up 0.8% to $4,047.70 an ounce. The dollar index has reached a six-month high, is above 100, and if the index continues to rise above 100 then it will put further pressure on gold's price, said Jigar Trivedi. Senior research analyst at brokerage Reliance Securities. Gold priced in greenbacks is more expensive to...

Ford Motor Company on Friday reiterated its guidance for the annual EBIT of $6 billion to $6 billion for this coming year, following a second fire at Novelis' New York aluminum plant this week. Ford's shares rose by about 4% on Friday, continuing gains made after the automaker confirmed the outlook that it had already revised due to production disruptions caused by a devastating fire at the supplier's factory in September. In October, Ford cut its profit projection, citing an incident that could have cost up to $2 billion. Ford said it would offset approximately $1 billion by increasing production...

The gold price held steady Friday after it fell over 1% in the previous session. Traders increased their bets that interest rates will drop by December following Fed comments. As of 11:45 am, spot gold was unchanged at $4,077.19 an ounce. ET (1645 GMT), following a fall of more than 1% in the earlier session. Bullion has lost 0.1% in the last week. U.S. Gold Futures for December Delivery rose by 0.4%, to $4.076.90 an ounce. John Williams, the New York Fed president, said on Friday that the U.S. Central Bank could still reduce interest rates in near-term without compromising...

Gold prices dropped more than 1% Friday, and are set to fall for the week after a strong U.S. employment report dampened expectations that a Federal Reserve rate reduction will be made next month. This weighed on non-yielding gold. Spot gold dropped 0.9% by 1213 GMT to $4,039.79 an ounce. Bullion prices have fallen 0.9% in the last week. U.S. Gold Futures for December Delivery fell 0.6% to $ 4,037.10 an ounce. The prospect of more rate cuts is somewhat doomed due to the good labour market data released yesterday. Nitesh Sha, commodities strategist at WisdomTree, believes that this is...