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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...

The Asian stock market jumped Wednesday as Wall Street reached record highs on the back of robust earnings, and a renewed interest in tech. Meanwhile, oil prices and bond yields fell on hopes of progress regarding opening of the Strait of Hormuz. Japan's Nikkei rose 3.5% as more evidence of the huge sums spent on 'AI?capex was revealed, while South Korea maintained its wild swings and rose 4.3%. The broadest MSCI index of Asia-Pacific stocks outside Japan rose by 2.3% while blue chips in China gained 1.5%. The rally in tech came despite AMD's setback. AMD fell 8.8% following hours,...

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...

Gold reached a seven-week high on Thursday and extended gains into the fourth session as the hopes of reopening the Strait of Hormuz helped ease fears of inflation and rising interest rates. Gold spot was up 0.6% to $4,271.33 an ounce at 0843 GMT after hitting its highest level in June 18 earlier. The bullion market posted its largest daily gain since February on Wednesday, with an increase of $4,267.24 for each ounce. U.S. Gold Futures increased 0.6% to $4330.20. Gold tries to hold on to its recent gains amid increasing optimism surrounding the Strait of Hormuz. The hope for...

The gold price climbed to its highest level in nearly seven weeks on March 3. It is on track to be the largest daily increase?since the beginning of February, due to the lower Treasury yields and the?hopes of progress regarding the opening of the Strait of Hormuz. By 2:15 pm, spot gold had risen 4.4% to $4253.36 an ounce. ET (1815 GMT), it had reached $4,264.93 - its highest level since June 18 - and was above the 50 day moving average which now supports gold at $4,160. U.S. Gold Futures for December Delivery rose by 3.7%, to $4,305.20 an...

The gold price rose to its highest level in nearly seven weeks on Wednesday and was on track to post the largest daily increase since February due?to lower Treasury rates and hopes of progress regarding opening the Strait of Hormuz. By 11:04 am, spot gold had risen 4.4% per ounce to $4256.85. The spot gold price rose 4.4% to $4,256.85 per ounce at 11:04 a.m. ET (1504 GMT), after reaching $4,258.99 - its highest level since June 18 - and breaking above the 50 day moving average. It now stands at $4,160. U.S. Gold Futures for December Delivery rose by...

Gold rose for a third session in a row on Wednesday. This was helped by the softer dollar and lower crude oil prices. Investors were waiting for U.S. employment data to get a sense of interest rate outlook. By 0455 GMT spot gold had risen 1.4% to $4,133.83 an ounce, which was a new two-week high. U.S. Gold Futures rose 1%, to $4191.90. Holders of other currencies will find greenback-priced gold more appealing. Oil continued to decline after two days of steep drops. Lower oil prices can reduce inflation fears that are often the cause of expectations for higher interest...

Gold rose for a third consecutive session on Wednesday. This was helped by a softer dollar and lower crude oil prices. Investors were waiting for U.S. job data to get clues about the interest rate outlook. As of 0253 GMT, spot gold rose 1.3% to $4,127.04 an ounce. U.S. Gold Futures increased 0.8% to $4184.40. Holders of currencies other than the U.S. Dollar will find greenback-priced precious metals more appealing. After two steep drops, oil prices have stabilized. Lower oil prices can ease inflation fears that often fuel expectations of higher interest rate. Qatar claimed that mediators are making progress...