United States

The U.S.-Iran diplomatic relationship has resulted in a reduction of gasoline prices for Americans. This is the sixth consecutive 'weekly drop, and a 15% decrease from the peak reached in May. According to GasBuddy, the?national average gasoline price fell by 14.1 cents per gallon in the past week. It was $3.85 a gallon on Sunday. Prices fell in the majority of states. GasBuddy data revealed that gasoline prices dropped by 25 cents per gallon over the last week in Colorado, 22 cents in Arizona, and 21 cents (per gallon) in Ohio. This drop could ease the pressure on 'U.S. Donald...

The U.S. Treasury Department approved the production, sale and delivery of Iranian oil on Monday. This was a promise made by Washington and Tehran in an agreement last week. The general license announced by the two sides as they continue their talks to reach a final agreement on peace allows for the production, sale and delivery of crude oil, petrochemicals and petroleum products with Iranian origin through August 21. In a recent post on X, Treasury Secretary Scott Bessent stated that Iran had 'committed' to allowing free and open passage through the Strait of Hormuz as well as allowing?International Atomic...

Mediators said that U.S. officials and Iranian officials had made "encouraging progress" during a first round of discussions in Switzerland, which ended early Monday morning, despite the tensions over Lebanon and Strait of Hormuz. Mediators Pakistan and Qatar said the parties agreed on a roadmap to a final deal to end their war within 60 days. This was despite the initial tension as 'Tehran' again closed the Strait of Hormuz and U.S. president Donald Trump threatened to restart attacks against Iran. The two sides said they had agreed on a mechanism that would end the fighting between U.S.-ally Israel and...

On Sunday, the United States and Iran will begin 'peace talks' in Switzerland. U.S. officials have disputed Iranian claims that the Strait of Hormuz is closed. Iranian state media reported that high-level Iranian officials arrived in Switzerland to hold peace talks with the U.S. The U.S. and Iran had agreed on a 60-day truce while negotiations are taking place. However, the Islamic Revolutionary Guard Corps of Iran declared the Strait of Hormuz closed, despite the U.S. Military stating that commercial vessels have continued to operate in the waterway. These developments could complicate negotiations between the two sides to implement an...

On Sunday, the United States and Iran will begin peace talks in Switzerland. U.S. officials have disputed Iranian claims that the Strait of Hormuz is closed. Iran's state-run media reported that a high-level Iranian delegation had arrived in Switzerland to begin peace talks with the U.S. JD Vance, U.S. vice president, left Washington on Saturday for meetings Pakistan has said will start Sunday. The U.S. and Iran had agreed to a ceasefire for 60 days while negotiations are taking place. However, the Islamic Revolutionary Guard Corps of Iran declared the Strait of Hormuz closed on Saturday, despite the U.S. Military...

Axios reported that the personal envoy of U.S. President Donald Trump and Iran's Foreign Minister were heading to Switzerland to hold talks. However, Axios also noted that Israel's deadly strikes in Lebanon on Sunday could be a test for a new ceasefire to end the Iran War. The talks led by Steve 'Witkoff' and Abbas Araqchi are an attempt to transform a 14-point interim pact that was signed this week into a regional agreement to end the war between Israel and the United States, which began on February 28. Lebanese media reported that Israeli drones and air strikes killed at...

Israel and Hezbollah reached a ceasefire agreement in Lebanon on Friday, after an escalation of fighting in Lebanon threatened the chance that an interim deal on ending the Iran war would become a lasting Middle East Peace Deal. U.S. and Iran talks scheduled for Friday in Switzerland were canceled as fighting flared up in Lebanon. This created new uncertainty about the timing of negotiations crucial to reopening the Strait of Hormuz to global shipping. According to a senior U.S. government official, a ceasefire will be in effect at around 4 pm Lebanon time (1300 GMT). The official added that the...

Israel and Hezbollah reached a ceasefire agreement in Lebanon on Friday, after an escalation of fighting in Lebanon threatened the chance that an interim deal to end the war in Iran would become a lasting Middle East Peace Deal. U.S. - Iran talks?in Switzerland scheduled for Friday have been cancelled due to the fighting in?Lebanon. This has created new uncertainty regarding the timing of the negotiations crucial to ensure that the Strait of Hormuz is reopened to global shipping. Just before 4 pm, Lebanon time (1300 GMT), a senior U.S. government official announced that a ceasefire was to be implemented...

Greylock Capital is withdrawing from its "steering" committee role on the Venezuela Creditor Committee, but will still remain a part of the larger group, according to two sources. This move may be seen as an early indication of tension within the group as they wait for Venezuela's financial adviser, Centerview Partners to provide a report on debt sustainability later this month, ahead of what could be one of the largest and most complex debt restructurings undertaken. Analysts estimate that the?government and Petroleos de Venezuela's (PDVSA), which is Venezuela's state oil company, have about $60 billion in?bonds currently in default. Once...

The interim agreement to end the Iran War will include a waiver of sanctioned oil sale but the country is still faced with a complex web?of international restrictions on its trade and activities. Since decades, sanctions, trade embargoes, and asset freezings have been imposed on Iran by the United Nations, the United States of America, the European Union, and other countries over its nuclear program, human rights record, and support for groups in the region. Iran is hoping to get further sanctions relief through discussions on its nuclear program as the next phase of the interim agreement unfolds. Here are...

Donald 'Trump' said on Wednesday, that Israeli Prime Minister Benjamin Netanyahu could use "softer touches" in his fight against Hezbollah militants. This is the latest public rebuke from the U.S. President to his partner in war on Iran. Trump said to reporters at the end of the G7 summit on Wednesday that Netanyahu is a good person, but he gets a bit 'excited' sometimes. According to U.S. officials and Israelis, the Israeli leader convinced Trump to go to war with Iran and participated in attacks launched on 28 February. Netanyahu 'insisted that Israel was not bound by any U.S.Iran agreement...

A senior U.S. government official told reporters that both Iran and the U.S. could walk away from the memorandum they were set to sign on Friday. Future 'talks' will likely?focus? on the exact sequencing of the steps outlined in the preliminary agreement, the official said. The official, who spoke under the condition of anonymity read out the 14 point memorandum which is to be signed in Switzerland. The official said that upcoming meetings in Switzerland will be "critical" to ensuring the memorandum can develop into a comprehensive agreement. A senior U.S. government official stated that the meeting in Switzerland would...

Executives have revealed that Orion Critical 'Mineral Consortium is in advanced talks to establish three new public-private partnership in Asia as it looks to fund a?global? pipeline of $20 billion opportunities. The consortium will form a third leg of investment in Asia to complement the $1.8 billion raised last year by the group to improve access to critical minerals such as copper, lithium and rare earths. The project is being led by Orion Resource Partners a mining-focused private equity firm, and backed up by the U.S. International Development Finance Corporation and Abu Dhabi’s sovereign wealth fund ADQ. Orion Resource Partners...

The?U.S. dollar was stronger on Tuesday and this pushed gold prices down?more that 1%. ?dollar fell?more than 1% on Tuesday,?pressured by a firmer 'U.S. As of 0414 GMT, spot gold was down by 1.1%, at $4,142.61 an ounce. U.S. Gold Futures for August Delivery fell 1% to $4160.20. Tim Waterer is the chief market analyst at KCM Trade. He said that while gold had received some relief this week from lower oil prices, it was not getting any help from the U.S. Dollar, which "continues" to rise on expectations of Fed interest rate hikes. Gold is less affordable for buyers...

Gold prices rose on Monday, after recovering from a?low? of over a week in the previous session. Progress in U.S. Iran peace talks helped to stabilize oil prices, and eased inflation fears. Gold spot rose 0.5%, to $4.182.39 an ounce at 1:50 pm. ET (1750 GMT). On Friday, prices reached their lowest level since June 11. U.S. Gold Futures for August Delivery? Settled 1% Lower at $4,202.7 per ounce. Ole Hansen, analyst at Saxo Bank, said that energy prices would remain the key driver of precious metals in the short term. We're watching the bumpy discussions in Switzerland between?U.S. Iran...

Gold prices rose by nearly 1% on Monday after recovering from a?an over one-week-low hit the previous session. Progress in U.S. Iran peace talks weighed down on oil and tempered inflation concerns. By 10:00 am, spot gold had risen 0.9% to $4199.07 an ounce. ET (1400 GMT). On Friday, prices reached their lowest level since June 11. U.S. Gold Futures for August Delivery fell by 0.7%, to $4216.30 an ounce. Ole Hansen, analyst at Saxo Bank, said that energy prices would remain a major short-term factor for the precious metals space. Hansen said that the "bumpy" talks between the U.S.,...

CRH, a building materials company based in Ireland, announced on Monday that it will acquire Arcosa of the United States in a cash-only deal worth $8.5 billion. This acquisition will strengthen CRH's position in North America. CRH has offered $150 per share, which is a premium of 10.4% over Arcosa’s previous closing price. In premarket trading, shares of the Dallas-based company rose by 7.5% to $146. Jim Mintern, CEO of CRH, said that the deal enables CRH to take advantage of rising demand in U.S. utility and energy infrastructure. Arcosa is a large manufacturer of energy transmission equipment in the...

Gold rebounded Monday, ending a three-session loss streak, supported by a fall in Brent crude oil on the back of positive progress in U.S. Iran talks. Investors were also on edge due to the Federal Reserve’s hawkish position. After falling to its lowest levels since June 11, spot gold rose 1.2% by 1205 GMT. U.S. Gold Futures?for August Delivery fell by 0.4% to $4228.30. Ross Norman, an independent analyst, said that gold may benefit from hot money flowing out of oil and into gold. Press TV reported that progress had been made by a spokesperson for the Iranian Foreign Ministry,...

Prices of industrial metals rose on Monday due to optimism that the initial U.S. - Iran talks may pave a way for a peace deal. Benchmark copper on the London Metal Exchange traded 1.2% higher, at $13,760 per metric ton. The price of copper, which investors use as a measure of economic health, has increased by more than 15 percent since March 23. Mediators said that U.S. officials and Iranian officials had made "encouraging" progress in agreeing on a 60-day timeline to end the war. Toutefois, tensions?persisted?over Lebanon and the Strait of Hormuz?after Tehran once again closed the waterway?and?U.S. Donald...

Prices of industrial?metals rose on Monday as optimism grew that initial U.S.-Iran negotiations could pave the path for a deal ending the war. At 1039 GMT, the benchmark copper price on the London Metal Exchange was up 0.9% to $13,723 per metric ton. The price of copper, which investors use as a measure of economic health has risen by more than 15 percent since March 23. Mediators said that U.S. officials and Iranian officials had made "encouraging" progress in agreeing on a 60-day plan to end the 'war. But tensions remained over Lebanon and Strait of Hormuz, after Tehran again'shut...

Four?sources? with knowledge of the situation said that Cargill aims to sell its iron ore and trading business by late July?or early august, as it refocuses its operations on food and agriculture. According to Cargill, the Singapore-based company is a large one, with a trading volume of 60 to 70 millions metric tons of iron ore per year and up to 4 million tons steel. This makes it a target for companies that are looking to expand their physical trading. Sources say that the original deadline for the sale was late May, which is the end of Cargill’s financial year....

The London Metal Exchange saw a rise in copper?prices on Monday as the market digested the weekend's tense U.S. Iran?peace talks. Benchmark three-month Copper?on LME gained 0.71% to $13,692?a metric tonne by 0700 GMT. The Shanghai Futures Exchange's most traded copper contract fell by 0.08%, to 104 890 yuan per ton ($15 476.21). After the peace talks between the U.S.A. and Iran, traders closely monitored the macroeconomic climate. David Wilson, BNP Paribas' head of metals strategy, stated that the market was just waiting and watching to see what would happen. Mediators confirmed that the first round of high level peace...

?Gold recovered from a more than one-week-low on Monday as oil prices dropped after Iran cited the progress of U.S. - Iran peace talks. However, bets on higher interest rates following hawkish U.S. Federal Reserve signaling weighed on metal's prospects. As of 0608 GMT spot gold was up 0.8% to $4,194.99 an ounce after dropping to its lowest level since June 11, on Friday. U.S. Gold Futures for August Delivery fell 0.8% to $4213.10. According to Press TV, the first round of talks between senior U.S. officials and Iranian officials took place in Switzerland on Monday. An Iranian spokesperson for...

?Gold recovered from a more than?one week low on Monday as oil prices dropped after Iran cited the progress of U.S. - Iran peace talks. However, bets for higher interest rates following hawkish U.S. Federal Reserve signalling limited the metal's gain. As of 0424 GMT spot gold was up 0.4% to $4,176.34 an ounce after dropping to its lowest level since June 11, on Friday. U.S. Gold Futures for August Delivery fell 1.2% to $4194.40. According to Press TV, the first round of talks between senior U.S. officials and Iranian officials ended in Switzerland on Monday. An Iranian spokesperson said...