Western Europe

Data showed that oil product stocks in Asia’s main trading hub Singapore fell to their lowest level in six weeks. This was mainly due to a decline in the inventories of?clean petroleum products, according to data released on Thursday. Enterprise Singapore's data shows that combined?onshore? product stocks totaled 39.64 millions barrels during the week ending July 22. This is a 1.5% decrease from the previous week. The weekly average for last month was 37.5 million barrels. Lower inventories of middle and light distillates led to the decline, which was moderated by an increase in heavy distillates. In recent days, shipping...

Ankur Banerjee gives a look at what the day will bring for European and global markets. After five months of observing events in the Strait of Hormuz investors are now focusing on the Arabian Peninsula, where the Iranian-aligned Houthis who control the area near the 'Bab el-Mandeb strait, in the 'Red Sea open a new rift in the Middle East crisis. Brent futures have reached $96 a barrel, their highest level since early June. Investors are worried about stockpiles being depleted after Houthis announced a naval blocade against Saudi Arabia this week. Ship-tracking data revealed that the threat caused tankers...

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...

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...

The stock market made a few gains on Wednesday, but the positive impact of a strong Wall Street session was offset by caution as investors waited for earnings reports from Big Tech. Meanwhile, the oil price rose due to threats from Houthi "rebels" to escalate the Middle East conflict. The broadest MSCI index of Asia-Pacific stocks outside Japan rose 0.2%, while the South Korean Kospi's gains were reduced to just 1.5% from an earlier gain of over 6%. The Nikkei225 in Japan fluctuated between gains and losses. Meanwhile, S&P 500 futures fell 0.2% along with a 1.2% drop for Hong...

The Nasdaq, chipmaker shares and major stock indexes all rose on Tuesday amid the rising tensions over the Iran conflict. Oil prices also reached a five-week high. Benchmark 10-year U.S. Treasury Yields hit a two-month peak as traders pondered whether the new spike in oil prices would affect consumer prices, and increase the likelihood of Federal Reserve rate hikes. Two oil tankers transporting Saudi crude from the Red Sea to Asia have reversed their course after being threatened by Yemen's Iran aligned Houthis. U.S. Crude?rose by 2.32%, to $85.16, and Brent rose by 2.08% to $91.08 a barrel. Bruce Zaro...

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 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...

Anglo American's copper production was largely?flat in the first-half of this year and its copper price guidance for 2026 has been lowered. However, it said that?its diamonds?and steelmaking?coal businesses will post negative earnings underlying in the first quarter. The London-listed company maintained its guidance for full-year production of copper between 700,000 and 760,000 metric tons. The miner produced 343,600 tonnes of copper during the first half, compared to 342,200 tons one year ago. Anglo stated that its proposed merger with Teck Resources is still on track. The final regulatory hurdle will be the approval of China. The miner would become...

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...

Norsk Hydro, the Norwegian aluminium manufacturer, reported a quarterly profit that was?above expectations? on Wednesday. Higher aluminium prices and higher?recycling? margins outweighed lower energy output and negative currency effects. Hydro enjoyed a windfall from the higher aluminium prices, regional premiums and disruptions in Middle East supplies during the second quarter. However, reduced production at its Qatalum Joint Venture limited this. The company's adjusted earnings, before interest, taxes, depreciation, and amortization, rose 15% year-over-year to 8.92 billion Norwegian Crowns ($927.0 million) during the April-June period, while the average estimate of analysts polled was 8.22 billion Norwegian Crowns. Hydro's Aluminium Metal division,...

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...

On Wednesday, gold rose to a two-week peak on technical purchases as investors assessed the escalating conflict in the Middle East and awaited next week's Federal Reserve meeting for hints on interest rate expectations. Gold spot rose 1.6%, to $4,139.64 an ounce, by 0307 GMT. It had already reached its highest level since 7 July earlier that day. U.S. Gold futures for August delivery rose 1.7% to $4144.20. Last week, the escalating tensions in Middle East pushed up oil prices and inflation concerns. This boosted expectations for interest rate hikes which led to gold's steepest weekly decline since early June....

Some investors are buying back the laggards as big investors start to sell and Indonesia's battered, unloved stock markets is gaining some love. Jakarta's stock market has been Asia's worst performing'major' stock market for this year. It is down by 28%. Investors have been looking at markets with less of a focus on AI. David Chao is the Asia-Pacific Global Market Strategist at Invesco, based in Singapore. He said: "We have been buying Indonesia and taking a profit in South Korea." "Indonesia remains the most overlooked macro-growth story." BARGAIN HUNTERS ARE SEEKING VALUE AS SENTIMENTS CHANGE Although still cautious, the...

President Donald Trump signed an executive directive on Monday that makes it more difficult for U.S. Defense contractors to get waivers to purchase critical minerals and materials from China or other banned foreign suppliers. This is the latest attempt by the Trump administration to reduce its reliance on overseas supply chain for weapons production. Defense contractors must now do more than just show that a Chinese supplier offers the cheapest or easiest option. Companies requesting a waiver must prove that they have looked for alternatives, disclosed the origins of materials and provided a plan on how to reduce their reliance...

Gold prices were little changed Monday as investors assessed the escalation of the Middle East conflict that has pushed up oil prices, and another U.S. Federal Reserve official signaled that higher interest rates may be necessary to reduce price pressures. As of 0455 GMT, spot gold was $4,018.90 an ounce. U.S. Gold Futures for August 'delivery' gained 0.1%, to $4 023.10. U.S. gold futures for August?delivery gained 0.1% to $4,023.10. Brian Lan, GoldSilver Central's Managing Director, said: "The war continues, and the focus is on rising oil costs that could lead higher inflation. This is what keeps gold under pressure."...

Gold was stable on Friday, but on course to suffer its largest weekly loss in six years as escalating tensions between the U.S. and Iran drove up energy prices, fueling inflation fears, and reinforcing expectation of U.S. rate hikes. By 0932 am EDT (1332 GMT), spot gold was unchanged, at $3.970.35 an ounce. It is still near its lowest price since July 1. Prices have fallen by more than 3% for the entire week. U.S. Gold Futures?for August Delivery fell 0.5% to $3973.10. The U.S. Dollar rose for the second consecutive session, increasing the price of bullion for foreign buyers....

Anglo American chose a preferred bidder for its De Beers stake, and Botswana is weighing up whether to exercise its first refusal right on its own or with Anglo American's selected bidder. Anglo sold De Beers in May 2024, as part of an overall restructuring that was prompted by the 'falling diamond prices' and the growing popularity for synthetic diamonds. Private buyers and the government of Botswana (which already owns 15%) have shown interest in this business. Moeti Mohwasa, Botswana’s Minister of State President, Defence and Security, told lawmakers that Anglo American had conducted a competitive bid process with three...

Gold prices climbed on Friday but were set to fall?weekly? as tensions between the U.S. and Iran pushed up oil prices, raising inflation fears and supporting an expectation of higher U.S. rates. Gold spot rose 0.7%, to $3.996.29 an ounce, by 1010 GMT. It had fallen as low as it has been since July 1, earlier in the day. Prices are down by over 3% for the entire week. U.S. Gold Futures for August Delivery gained 0.2% to $4,000. Fawad Razaqzada is a Forex.com market analyst. He said that when the price drops, some short sellers will profit. If oil...