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Oil prices rose by more than 5% Wednesday, while global stock and bond markets fell as investors fled risky assets after U.S. president Donald?Trump declared that the Gulf Conflict was over following the signing of a memorandum with Iran. Trump said that he didn't want to engage Tehran. He was speaking in Ankara, Turkey, ahead of the NATO summit. He said that dealing with Iran was a waste. After the U.S. and Iranian forces exchanged attacks in Gulf, market sentiment was already fragile. Brent crude futures jumped 5% to $78 per barrel, the biggest gain in a single day since...

Oil prices jumped by over 3% Wednesday, bond prices fell as U.S. sanctions against Iranian crude oil?threatened a ceasefire. Stocks wobbled due to concerns that the record AI rally might be losing its buyers. Brent crude futures rose 3.3% to $76.54 per barrel, the highest gain in a single day since May. Although this was far below the peak of $120 at the height of fighting, it was still enough to introduce a new inflation risk in the bond market. Jason Wong is a senior strategist with BNZ Wellington. "Obviously, the market does not like these attacks... But it's still...

Ankur Banerjee gives us a look at what the European and global markets will be like today. And then, 'like that' we are back to looking at shipping routes through the Strait of Hormuz. A new round of tit for tit attacks has upended the tenuous U.S. - Iran ceasefire. This has clouded the long-term prospects of peace in the Middle East. Oil prices jumped 2% after investors worried about a slow recovery in Middle East supply. The U.S. has reimposed sanctions on Iran's crude oil sales, adding to the worries. Since the conflict began at the end of Feburary,...

The price of oil rose by nearly 2% after the U.S. military conducted?airstrikes on Iran and reimposed crude sales sanctions. This sparked fears that their fragile truce could unravel, and Middle East supplies might be disrupted once again. U.S. Central Command announced on Tuesday that the U.S. airstrikes came in response to Iranian attacks against three commercial vessels transiting through the Strait of Hormuz. The Strait of Hormuz is an important waterway used to transport Middle Eastern oil shipments into wider markets. Brent crude futures rose $1.38 or 1.9% to $75.54 a barrel, while U.S. West Texas intermediate crude climbed...

Bond futures fell and oil prices rose after the U.S. imposed trade sanctions on Iran following the attacks on tankers at the Strait of Hormuz. Stocks wobbled, as the momentum from the record-breaking AI rally waned. U.S. crude oil futures rose 2.7% to $72.40 per barrel, while 10-year Treasury futures fell seven ticks. Traders priced in the rising risk of inflation and interest rate increases. Jason Wong is a senior strategist with BNZ Wellington. He said that the market does not like these attacks, but it's still not in full panic mode. He said that the past few months have...

U.S. Oil Prices jumped by?nearly 3 percent in early trade Wednesday, continuing the previous session’s gains. This was after a series of strikes launched by the U.S. Military against Iran. The U.S. military's actions raised concerns about a fragile ceasefire. U.S. Central Command said on Tuesday that the strikes against Iran were a response to Iranian attacks on commercial vessels that were?transiting the Strait of Hormuz?. As of 2215 GMT, U.S. West Texas Intermediate Crude was up $1.95 or 2.8% at $72.39 per barrel. WTI closed 2.8% higher on Tuesday, before continuing to rise?in the post-settlement trading after the U.S....

The global stock market fell on Tuesday, as investors remained concerned about the sustainability if the AI-driven rally. Oil prices also rose due to renewed Middle East tensions. In early trading on Tuesday, the tech-heavy Nasdaq composite fell 0.97% while the S&P500 dropped 0.32%. The Dow Jones Industrial Average remained flat. The stock market took a hit despite Samsung Electronics' forecast of a 19-fold increase in operating profit from April to June, which reached 89.4 trillion dollars ($58.4billion), the third consecutive quarter that it had achieved a record operating profit. The results did not reassure investors but rather sparked heavy...

Wall Street gained in the midday trade on Monday, largely due to continued optimism about chip stocks. Oil fell as a result of an expected surge in supply. All three major U.S. indexes rose in the early afternoon after European stocks had flirted earlier with'record peaks' before retreating, ahead of the crucial earnings season for AI. The Dow Jones Industrial Average climbed 0.07% to 52,938.04, while the S&P 500 rose by 0.73% to 7,537.75, and the Nasdaq Composite gained 1.25% to 26,155.56. The MSCI index of global stocks rose 0.45% to 1,128.87. Global AI continued to dominate the markets. South...

Prices were little changed Monday as they traded?around pre -Iran War levels. Saudi Arabia slashed their?official'selling prices. OPEC+ approved a new production target starting in August. And exports via the Strait of Hormuz improved further. Brent crude futures were trading at $72.19 per barrel at 11:26 am, after hitting a four-year peak above $126 late in April. ET (1626 GMT), up by 7 cents or 0.1%. U.S. West Texas Intermediate Crude was trading at $68.81 per barrel, an increase of 12 cents or 0.2%. WTI was not settled on Friday due to the fact that U.S. market were closed. Both...

Stocks rose in the Asian session on Friday, after a lukewarm U.S. jobs report cast doubts over the prospects of a Federal Reserve rate hike. Regional activity gauges also pointed to an expansionary economy during June. MSCI's broadest Asia-Pacific share index outside Japan, which had been in decline for two days straight, rose 2.2% after a shaky beginning. South Korea's Kospi fluctuated between gains and losses before surging by more than 6%, as buyers snapped up battered chipset stocks. S&P 500 futures rose by 0.4% while Japan's Nikkei reversed its early losses and traded 1.2% higher. The latest data from...

The price of oil rose slightly Friday, just before the long holiday weekend here in the United States. As cautious optimism held on efforts to bring peace between the United States and?Iran in the Middle East. Brent futures rose 17 cents or 0.24% to $72.10 per barrel at 0155 GMT. West Texas Intermediate rose 14 cents or 0.20% to $68.83 per barrel. The U.S. market will be closed on Friday in advance of Independence Day. Independence Day is celebrated on Saturday. The two benchmarks reached their lowest levels in the previous session since the U.S./Israeli war against Iran started late...

After a lukewarm U.S. The jobs report has thrown cold water on the 'prospect' of an imminent rate increase by the Federal Reserve. MSCI's broadest Asia-Pacific share index outside Japan fluctuated in gains and losses. It gained 0.1% following two days of consecutive declines. The sharp declines in U.S. chipmakers trading weighed heavily on South Korea's Kospi. S&P 500 and Nasdaq futures both rose by 0.1% while Japan's Nikkei was down by 1%. According to data released Thursday, the U.S. employment growth slowed dramatically in June, and payroll gains from the two previous months were'revised down.' This indicates a cooling...

India's import restrictions have caused shortages on the world's largest market for precious metals, driving premiums up to their highest levels in six months despite a weaker than usual demand. India's lower imports, which meet more than 80% its silver demand by purchasing it overseas, could have a negative impact on the global price of silver, as well as help narrow its trade deficit and reduce pressure on its currency, the rupee. Chirag Thakkar, the chief executive officer of Amrapali Group Gujarat - a major silver importer - said that "Silver Imports are almost at a standstill, creating a severe...

Gold prices dropped more than 1% on Tuesday after U.S. President Donald Trump declared that the interim peace agreement with Iran had "ended". This sent oil prices up and fuelled fears of inflation, as well as higher U.S. rates. Spot gold dropped 1.02%, to $4,063.67 an ounce, by 0850 GMT. It had fallen to its lowest level since July 2, earlier in the session. U.S. Gold Futures for August Delivery fell 1.97% to $ 4,074.80/oz. Trump stated that the Memorandum of Understanding signed in June with Iran to end a four-month conflict was "over" and added that he did not...

Metals trading and the world it operates in is constantly changing. Political and military conflict has shattered what was once a highly globalised supply chain into regionally different parts. Metals are moving away from the single benchmark global set by the 149-year old London Metal Exchange (LME), which is now owned by Hong Kong Exchanges and Clearing. This changing reality is evident in the opening of the Shanghai Futures Exchange (ShFE) nickel contract for overseas firms. Shanghai has already become the leading force in China in terms of establishing benchmark metals price in its domestic market. ShFE wants to expand...

These are the most popular?stories from the New York Times business pages. The New York Times has not?verified?these?stories and cannot?guarantee?their accuracy. U.S. president Donald Trump will likely restore the rights of Turkey to buy F-35 stealth jets at the NATO summit, which would reverse a 7-year-old ban imposed by Trump himself. Canada announced on Monday that it has selected ThyssenKrupp to build a fleet of submarines in collaboration with the Norwegian, German and Canadian governments. This is a move towards reducing Canada's military and economic dependence on the United States. Walmart announced on Monday that it would be slashing the...

Gold rose on Friday, and was expected to gain a weekly profit after four weeks of losses. Weak U.S. job data dampened expectations that the Federal Reserve will raise rates in the near future. Gold spot was up 1.3% to $4,176.29 an ounce at 1006 GMT after reaching its highest level since June 23. Bullion is above its 21-day moving average and up over 2% this week. U.S. Gold Futures for August Delivery gained 1.53% to $4188.80/oz. Data released on Thursday revealed that nonfarm payrolls increased by 57,000 in the U.S. last month. This was below the 110,000 economists had...

Gold gained 1% on Friday, and investors were set to?make their?first weekly gains in five as they dialed back expectations for U.S. interest rate hikes after softer than expected jobs data. As of 0612 GMT spot gold was up by 1% to $4,165.29 an ounce. It had earlier reached its highest level since the 23rd of June. U.S. Gold Futures for August Delivery gained 1.3% to $4,178.50. Bullion is on track to gain 1.8% in a week, its first weekly gain since?May 29. Weaker-than-expected data from nonfarm payrolls as well as private payrolls have tempered inflation concerns and interest rates...

Operation Epic Fury, which was launched at the end February, quelled the early-year euphoria of copper and tin. Since then, the Iran war has been the main topic of discussion. This has made it difficult for traders to make sense of the headlines because they are so confusing. It seems that the Strait of Hormuz has entered a quantum world in which it is simultaneously open and closed, depending on who is speaking at any particular point?in time. Vanda Insights, a provider of oil market analyses, founded by?Vandana hari, says Schrodinger Strait is "continuing to reopen, but it's patchy and...

As investors lowered their expectations for Federal Reserve rate hikes after softer than expected U.S. job data, gold rose by more than 1%. As of 0235 GMT spot gold rose 1.4% to $4179.94 an ounce. This was its highest price since June 23. U.S. Gold futures for delivery in August gained?1.6%, to $4193.20. Bullion is on track to gain 2.3% in a week, its first weekly gain since the week of May 25. Weaker-than-expected data from nonfarm payrolls as well as private payrolls helped ease concerns about inflation and longer-term interest rates. The dollar was heading for a weekly decline,...

A report released by the Australian government on Friday stated that efforts made by China's iron ore buyer, which is backed by its state, to reduce?costs of Chinese steel mills could push prices down in the medium-term. This was a rare admission that such activities may affect earnings. Iron ore is Australia's largest export. It contributes significantly to the government's revenue. China purchases roughly three quarters of all seaborne trade. In its Resources and Energy Quarterly Report, the Department of Industry, Science and Resources said that state-backed China Mineral Resources Group has increased activity 'in the iron ore markets this...

Gold ?extended its gains, climbing more than ?2% on Thursday, after ?weaker-than-expected ?U.S. Non-farm payrolls reduced expectations for Federal Reserve interest rates to rise this year. As of 9:00 am EDT (1300 GMT), spot gold was up by 2.4% to $4,126.97 an ounce. U.S. Gold Futures climbed 1.4% to $4,139.20. Dollar-priced materials are now cheaper for holders of other currencies, as the U.S. index fell by 0.7%. The lower than expected jobs number indicates a reduced likelihood of rate increases later this year. Gold tends to do better when interest rates are lower, said David Meger, director at High Ridge...

Gold rose on Thursday, helped by a weaker oil price, soft jobs data and comments made by the Federal Reserve Chair that inflation risks had eased. This was ahead of U.S. Nonfarm Payrolls Data. As of 0855 GMT the spot gold price was up 1.2% to $4,078.25 an ounce after reaching its highest level since last June 23. After U.S. payrolls for?June, the metal snapped a two day losing streak and closed higher at $4029.89. U.S. Gold Futures for August Delivery climbed 0.2% to $4,090.70/oz. Nikos Tzabouras is a senior market analyst with Tradu.com. He said, "The precious metal has...

Aluminum prices dropped on Thursday, as improved supply expectations overshadowed the support of resilient manufacturing data. Benchmark -three-month aluminum on the London Metal Exchange fell 0.46% to $3,062 per metric tonne by 0700 GMT. It fell to $3,040 a metric tonne earlier in the day, its lowest level since February 19. The Shanghai Futures Exchange's most traded aluminium contract fell 0.38%, to 22,400 Yuan ($3,300.09). Emirates Global Aluminium announced that it would be able to restore production at its Al Taweelah Complex - one the largest aluminium production facilities in the world - sooner than expected, signaling an "improving outlook"...