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Can India do the same for Asia's refined fuels market as China did with crude oil? China drastically cut its crude oil imports in June to a 10-year-low in response to the U.S. and Israeli war against Iran. This freed up oil for buyers who were struggling to source cargoes due the the effective closing of the 'Strait of Hormuz. India is taking a different approach, purchasing 'Russian crude' and increasing exports of refined goods to offset the lower shipments coming from Middle East refineries and Russia. According to commodity analysts Kpler, India's light and middle distillates exports are expected...

Mike Dolan, Editor at Large, Finance and Markets, explains what matters today in U.S. markets. Alphabet's capital expenditure increase and earnings beat triggered a familiar response - the stock of Alphabet fell, while chip stocks rose. The hyperscaler beat the Street by posting more than 80% in its cloud business. However, it raised its capex expectations yet again, with AI-related investments now expected to exceed $200 billion this year. Below, I'll delve deeper into that and much more. Check out my most recent column about how the U.S. economy's K-shaped scale explains its resilience. Listen to the Morning Bid podcast...

Oil prices in Asian trade rose by?more? than 1.5% on Thursday, reaching their highest level?in? more than six weeks. Yemen's Houthis attacked oil tankers in Red Sea while the United States launched another round of airstrikes against Iran. Brent crude futures rose by $2.2 or 2.3% to $96.27 at 0327 GMT. This is the highest level since June 8. The previous session saw Brent crude futures rise more than $3, to $94.07, which was just short of the six-week peak. After Wednesday's rise of 3%, U.S. West Texas Intermediate crude rose $1.65 or 1.9% to $88.48. The Iranian Revolutionary Guards...

The oil price rose to its highest level in six weeks?on Wednesday, as U.S. and Iran exchanged strikes, further endangering energy shipping across the Middle East. Meanwhile, U.S. stocks were flat before?important Big Tech earnings. Brent crude prices last rose around 3.5%, to $94 a barrel. This was the highest since early June. A brief detente that existed between the U.S., Iran and other countries ended in early this month. This has once again restricted tanker movements through the Strait of Hormuz. Donald Trump, the U.S. president, threatened to attack Iran's infrastructure again on Wednesday. The war, which has lasted...

The price of oil?soared to a six week high on Wednesday, as the U.S. traded with Iran, threatening the Middle East's energy shipping. Equities were flat before the release of important Big Tech earnings. Brent crude prices rose last around 2.7% to $93.40 per barrel, reaching levels that have not been seen since early June. The U.S.-Iran detente ended in early this month and tanker traffic was once again restricted through the Strait of Hormuz. Donald Trump, the U.S. president, threatened to launch more attacks against Iran's infrastructure on Wednesday. The war, which has lasted for nearly five months, has...

As the Iran conflict intensified, German borrowing costs rose to a new two-year peak and French longer-dated rates rose above 4% for a first time since June 2009. This boosted expectations of higher inflation and policy rate. Brent crude oil prices surpassed $95 per barrel on Wednesday. U.S. president Donald Trump also said that the U.S. will "bomb and demolish one bridge or power station" if Iran attacks a ship near the Strait of Hormuz. German yields on two-year bonds, which are sensitive to expectations of policy rates, increased 4.5 basis points to 2.8425%. This is their highest level since...

Oil prices dipped on Tuesday as markets weighed reports of mediation attempts?between Iran and the U.S. versus an exchange of new?attacks?between both and threats of a Saudi Arabian naval blockade by Yemen's Houthis. Brent crude futures fell 35 cents or 0.4% to $88.87 a barrel at 0052 GMT. U.S. West Texas intermediate crude for September was unchanged at $82.47 a barrel. Both contracts were trading at levels below their highest in over a month, which they reached in the previous session. Houthis, who are allied with Iran in Yemen, announced?on Sunday that they would impose an naval blockade against Saudi...

Gold prices were little changed on Monday, as investors assessed the escalation of the Middle East conflict that has pushed up oil prices. Meanwhile, another U.S. Federal Reserve policymaker indicated that higher interest rates may be necessary to curb inflation. As of 0756 GMT, spot gold was unchanged at $4,018.19 an ounce. U.S. Gold futures for August delivery rose 0.1% to $4 023. U.S. forces attacked Iran for the ninth day in a row on Monday. The number of confirmed American deaths from the renewed fighting has risen to three. Concerns about shipping through the Strait of Hormuz have also...

Wayne Cole gives us a look at what the future holds for European and global markets. While Spain hoisted the World Cup in celebration, the U.S. Military began?its ninth day of attacks against Iran. Iran was also?hitting targets throughout the region. On Sunday, only a few ships crossed the 'Strait of Hormuz. One was on fire. Brent crude oil rose above $90 per barrel for the very first time since June. Treasury bond futures fell as investors lowered the odds of a Federal Reserve interest rate hike in September. The implied probability was around 65%. The rise in 30-year Treasury...

Want some inspiration? Weekend Reads is a weekly roundup of what the Open Interest team has read, watched and listened to. This week, the Open?Interest team has chosen to focus on the 'race to reinvent critical mineral resources,'?oil benchmarks that are under pressure and great-power geopolitics. This weekend, we are reading... MIKE DOLAN is a columnist for ROI Finance & Markets. The Pew Research Center’s Global Attitudes Survey found that China was viewed as more favorable than the United States in 36 countries. The U.S. Department of Energy released this release by ROI Metals columnist ANDY HOME. It details five...

Asian markets fell sharply on the Friday. Equity benchmarks in Japan, Taiwan and China dropped as much as 6 percent, as global declines in technology stocks intensified. Japan's Nikkei benchmark 225 index has entered correction territory after falling more than 10% from its June 25 high. TAKAMASA ikeda, SENIOR PORTFOLIO MANGER,?GCI RESOURCES MANAGEMENT TOKYO : The Nikkei index is highly correlated to the SOX. The SOX index's growth was not sustainable, and a correction has occurred. A correction was expected, but is happening sooner than the market anticipated." The market is now unsure if hyperscalers can make returns to justify...

Oil prices increased on Friday as a result of the U.S. and Iran intensifying their attacks in the Gulf. Their broken 'truce' has limited oil flow out of the Strait of Hormuz, and 'Tehran asked the Houthi political organisation and military organization to be ready to close the Red Sea export route. Brent crude futures gained 70 cents or 0.83% to $84.93 a bar at 0312 GMT. U.S. West Texas intermediate futures also rose 81 cents or 1.03% to $79.76 a bar, erasing the losses of the previous session. Both benchmark contracts have gained nearly 12% in the past week....

Gold prices climbed on Friday as oil prices fell, and investors watched developments in the Middle East to get a better idea of inflationary risks fueled by energy, as well the outlook for U.S. rates. Spot gold increased 0.4%, to $4.061.36 an ounce, by 1115 GMT after falling 0.6% earlier. U.S. gold futures for delivery in August gained 0.3%, to $4.063.60. The gold price has moved from a negative to a slightly positive territory, driven by the lower oil prices. This reduces pressure on Fed to adjust rates, said UBS analyst Giovanni Staunovo. He added, "Our view is that the...

You wouldn't guess it by the price of aluminium. Two damaged Gulf smelters, and the resulting?logistical constraints at other smelters have already created a 2 million metric ton gap in the global supply chains. After surging to a 4-year high of $3,787.50 per tonne in early June, London Metal Exchange's (LME) 3-month aluminium now trades around $3,170 a tonne, exactly where it traded before the United States launched its "Operation?Fury", a joint strike with Israel against Iran, on February 28. Where did the war premium end up? Is the market right in being so'relaxed' about?the unprecedented shortage of a metal...

Gold ticked up a bit?on friday, reversing previous losses, as oil fell below $100?per barrel mark. Investors are watching developments in the Middle East to get a fresh perspective on inflationary risks driven by energy and the outlook for U.S. rates. Spot gold was up 0.2% at $4,055.38 an ounce as of 0925 GMT after falling 2% Thursday to $4.047.26. U.S. gold futures August delivery rose 0.2%, to $4.058.10. "Gold is now slightly positive after moving from a negative position earlier, driven by lower oil prices. This has reduced pressure on the Fed's rate-setting," said UBS analyst Giovanni Staunovo. He...

Gold fell?lower? on Friday, after dropping 2% in the previous session. The move of Brent crude back above $100 per barrel has stoked inflation fears and reinforced the case for higher rates before the Federal Reserve's policy meeting next Monday. Spot gold prices fell more than $130 since Wednesday's two-week high, falling to $4,037.29 an ounce at 0702 GMT. U.S. gold futures for delivery in August were down 0.3% at $4,039.80. Bullion is still on course for a 0.5% weekly gain. "In the near term, we anticipate more volatility... Gold has been stuck between $3,980 and $4,170 for weeks. We...

U.S. officials and Mexican officials announced on Thursday that they would meet in September for a 'fourth round' of negotiations to revamp North American trade agreements. This follows a week-long discussion which revealed disagreements about changes to the automotive content rules, among other things. This week, U.S. trade representative Jamieson Greer held a meeting with Mexican President Claudia Sheinbaum as well as Economy Minister Marcelo Ebrard during a third round discussion on the U.S.-Mexico-Canada Agreement. In a statement released after the conclusion of the talks, Greer and Sheinbaum said they discussed autos and economic security, agriculture, electronic payments, and steel...

Newmont beat analysts' estimates for the second quarter profit on Thursday as higher gold prices helped to offset lower production. Gold prices have been rising on the back of a steady demand for safe-haven assets and hopes that U.S. rates will be cut. However, a stronger dollar as well as inflation fears fuelled by oil price volatility during the Iran War has?limited gains. Gold prices that are higher usually boost revenue and margins for miners. Prices for 'the yellow metal' averaged $4,606.41 per ounce during the second quarter 2026. This is up 37% from one year ago. Newmont's average quarterly...

The price of gold fell?on Friday, as an intensifying conflict in the Middle East drove up oil and fueled investor fears that inflationary pressures might push the U.S. Federal Reserve into raising interest rates this year. Spot gold fell 1.2% at 1215 GMT to $4,079.50 an ounce, after reaching its highest level in over a month on Wednesday, $4,165.87 per ounce. U.S. Gold Futures for August Delivery fell 1.7% to $4.082.80. Nikos Tzabouras is a senior market analyst at Jefferies owned Tradu.com. Tzabouras said that the geopolitical escalation and higher oil prices, as well as the outlook for higher rates,...

Cemex, a Mexican cement producer, increased its core earnings expectation for 2026 on Thursday as it continues to benefit from a restructuring program and'solid sales growth. Cemex's net profit increased by 9% to $347m in the second quarter, and its core earnings, measured by EBITDA, (earnings excluding interest, taxes, depreciation, and amortisation), jumped up 24% to reach $1.02b. Cemex, one of the largest cement producers in the world, has raised its EBITDA forecast for 2026 from the previous guidance that growth would be in the high single digits. The results beat the average analyst?estimate $937.4 millions. Sales rose 12% to...

Gold prices fell on Thursday, after a two-week peak hit on Wednesday, due to an escalating Middle East war. Traders were waiting for the Federal Reserve's policy meeting next Monday, which could provide clues about the timing of interest rate increases. Gold spot fell 0.6% at 0713 GMT to $4,103.39 an ounce, after reaching its highest level since July 7, $4,165.87, on Wednesday. U.S. Gold Futures for August Delivery?fell by 1.1% to $4106.40. Oil continues to rise, adding to inflation pressures and expectations of Fed rate hikes. This has a positive effect on gold, as the dollar is weakening, said...

As oil prices rose due to an escalating Middle East war, gold held steady on Thursday. Traders are now looking ahead to the Federal Reserve meeting next week for any clues about the timing of interest rate increases. As of 0324 GMT spot gold was unchanged at $4,132.01 an ounce, after climbing?to $4.165.87 during the previous session, its highest level since July 7. U.S. Gold Futures for August Delivery?fell by 0.4% to $4134.60. Jigar Trivedi is a senior analyst at IndusInd Securities. He said, "Oil prices continue to rise, which adds to inflation pressures and expectations for Fed interest rate...

NOVAGOLD Resources announced 'on Wednesday that it would acquire 'the shares in Donlin Gold that it doesn't already own from Paulson Advisory in a stock deal, creating a gold producer with 4.2 billion dollars in value. Gold prices have risen to record levels, boosting cash flow and improving access to capital for miners. This has encouraged them to increase their reserves of precious metals - as well as their presence in safe mining areas such Canada and the United States. Upon the completion of the deal, a new company, NovaGold Corporation, will be formed. NOVAGOLD shareholders will own nearly 65%,...

Gold rose to a two-week high on Wednesday as technical buying boosted the price. Investors assessed the escalating conflict in the Middle East and were awaiting the U.S. Federal Reserve's meeting next week, which will provide clues about the interest rate outlook. Gold spot rose 1.3% by 0511 GMT to $4,129.43 an ounce, after hitting its highest level since July 7 earlier that day. U.S. Gold Futures for August Delivery jumped?1.4% at $4,134.50. As tensions escalate in the Middle East, oil prices and inflation fears rise. This has led to expectations of interest rate hikes which caused gold to drop...