Western Europe

Early trade on Thursday saw oil prices drop after Qatar announced that Iran and the U.S. made "positive progress" during indirect talks concluded on Wednesday. The talks focused on the 'Strait of Hormuz which handled one-fifth of the global supply of oil before the war. Brent futures fell 73 cents or 1.02% to $70.84 a bar by 0102 GMT. U.S. West Texas Intermediate Crude dropped 83 cents or 1.21% to $67.75 a bar. Both benchmarks dropped more than 1% in the previous session to their lowest level in four months. Sources claim that the U.S., Iran and their negotiators spent...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets Investors are in a cautious mood as we begin the new quarter, month and second half. U.S. Treasury rates have risen overnight, ahead of the June jobs report, and they're already anticipating the second-quarter earnings season. The jump in Treasury yields was not triggered by a specific event, but it came after news of a'surprise' increase in U.S. jobs for May. It also comes before Federal Reserve Chair Kevin Warsh speaks at the European Central Bank annual forum later today in Portugal. Below,...

Wayne Cole gives us a look at what the future holds for European and global markets. The 'new quarter' in Asia has been marked by a lack of confidence, partly because the market is digesting the gains from the previous quarter and partly because the U.S./Iran talks have not progressed. Tehran has reportedly refused to meet with President Donald Trump's son in law?Jared Kushner or his envoy Steve Witkoff, who arrived for high-level talks at Doha. The Strait of Hormuz is a very difficult issue. It's unclear how to resolve it. Asian stock markets have been mixed. This follows a...

Brent oil, meanwhile, posted its biggest quarterly drop since 2020 as traders stayed on top of a fragile truce between the United States &?Iran. The U.S. Dollar was expected to post its fourth consecutive quarterly gain against a basket, pushing the yen down to a low of 40 years, as expectations of U.S. rate hikes changed dramatically on the last day. The greenback gained more than 1% against the currencies of emerging markets as a group throughout the second quarter. The Strait of Hormuz reopened slowly and randomly on the energy markets as the hostilities between Iran and the U.S....

Nigeria's 650,000-barrel-per-day Dangote refinery has imported ?2 million barrels of crude ?from ADNOC of the United Arab Emirates, ?traders told , ?marking its first ?such purchases ?of crude from the Middle Eastern producer. As demand in Asia has weakened and global crude markets have weakened dramatically, the purchases are being made at a time when the Middle East crude market is able to supply more Middle Eastern crude due to the 'U.S. Iran ceasefire' earlier this month. Three sources have confirmed that Dangote imported a cargo of Umm Lulu oil and another?of Das or Murban in June. The Dangote refinery...

On Tuesday, global stocks were on track to achieve their best performance in the second quarter of six years. Meanwhile, a resurgent US dollar drove the yen down to its lowest level in four decades and was heading for a fourth consecutive quarterly increase. In the last three months the Strait of Hormuz reopened slowly and 'haphazardly' as hostilities between Iran and the U.S. waned, resulting in a fragile ceasefire and a 20% drop in the price of crude oil. A dramatic shift has also occurred in the expectations of U.S. interest rate, against the backdrop of an unstoppable rise...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets The first half of 2026 is over as the whistle blows. The AI industry has had a great year despite the energy-shocking, four-month-long Iran war, and the geopolitical tensions over Venezuela, Greenland, and NATO. Chip stocks have more than doubled. Below, I will go into more detail. Check out my most recent column about the risks that remain around the AI boom, even as bubble concerns are waning. Watch the new episode of Morning Bid, a special mid-year edition with Markets Columnist Jamie...

On Tuesday, global stocks were on track to achieve their best performance in the second quarter of six years. Meanwhile, a resurgent US dollar drove the yen down to its lowest level in four decades and?on course for a fourth consecutive quarterly increase. In the past three months the Strait of Hormuz reopened haphazardly and gradually as the hostilities between Iran and the U.S. waned, resulting in a fragile ceasefire that knocked 20% off of the price of crude oil. A dramatic shift has also occurred in the expectations of U.S. interest rate, against a backdrop that is dominated by...

Shell's annual report said that the global liquefied gas demand is expected to increase by 65% by 2050. This will be driven by Asia, as they seek "lower-emission alternative" fuels than coal, and data centres are driving up power consumption. In its LNG Outlook 2026, the world’s largest trader in supercooled fuel predicted that global demand would reach 700 million metric tonnes per year by this date. The report said that the LNG trade was expected to grow in 2026 from 422 million tonnes in 2025. The Strait of Hormuz is currently experiencing severe disruption, which has caused around one-fifth...

Asian stocks surged on Tuesday at the end of an impressive quarter, as a resurgent yen fell to its lowest level in four decades and headed towards a fourth consecutive quarterly increase. Japan's Nikkei rose 1.6% and is on track to set a new record for quarterly gains of over 38%. South Korea's KOSPI, which is dominated by chipmakers, rose 3%. However it was on track for a record-breaking second-quarter gain of more than 71%. It has already doubled in the past year. Brent crude futures are trading at $72.49 per barrel, which is the pre-war price. This is even...

Tom Westbrook gives us a look at what the future holds for European and global markets. This session is the first day of buying for the next quarter, as trades settle on the following day. The 'biggest supply shock in history' has barely left a mark on the financial markets as China cut demand, producers and alternative shipping routes filled the shortfall. The oil prices have dropped to the levels they were before the U.S., Israel and Iran conflict began in February. Skirmishes that strain the ceasefire draw little attention. Even the bond markets seem to be changing. The bond...

Asian stocks shook as they approached the end of a stellar quarter on Tuesday. A resurgent Dollar pushed the Japanese yen down to its lowest level in four decades, and was heading for a fourth consecutive quarterly rise. Japan's Nikkei is set to record a record gain of 36% in the second quarter. South Korea's chipmaker driven KOSPI fell 1% but was still on track for a record second quarter rise of more than 65%, having doubled in value year-to date. Brent crude futures are trading at $72.49 per barrel, which is the pre-war price. This is even with the...

The industry information provider SMM reported on Wednesday that Antofagasta, a Chilean copper miner, has agreed to supply?term copper concentrator supplies to certain Chinese smelters with spot-indexed prices and a floor guaranteed. The reported deal would be a departure from a long-standing practice in which miners sold term supplies for fixed treatment and refinement charges (TC/RC), which serve as a benchmark globally. Antofagasta stated that its negotiations are confidential and it does not discuss them with other parties. The smelters receive a TC/RC from the miners to refine copper concentrate. However, charges on the spot market are incredibly low due...

Gold prices were stable on Wednesday, but remained near the seven-month low they hit the previous session as the Federal Reserve raised interest rates and Treasury yields rose. As of 1109 GMT spot gold was unchanged at $4,010.11 an ounce, having touched its lowest level in November last year of $3,942.99 during the previous session. U.S. Gold?futures?for August delivery fell 0.4% to $4.023.80/oz. The yellow metal suffered its first quarterly decline since 2024. U.S. Treasury rates rose for the third consecutive session. The stronger U.S. Dollar also increased pressure, as it made bullion more expensive for overseas buyers. UBS analyst...

The main British car lobby estimated that British electric vehicle manufacturers will be forced to pay PS1.4billion ($1.85billion) in tariffs, if the European Union and the United Kingdom cannot reach an agreement on the local content requirement. The Society of Motor Manufacturers and Traders said that the post-Brexit regulations on sourcing parts, which were delayed in 2023 and are now 'due to come into effect from January', will trigger a tariff of 10% on 70% of all battery electric?and hybrid plug-in models traded with EU. A potential enforcement could have a negative impact on the British-EU trade in battery?electric vehicles...

CopperTech Metals announced a delay in its U.S. initial public offering on Tuesday. The company cited volatility in the global copper equity sector. Postponement is despite a resurgence in investor appetite for new listings. This has been bolstered by buoyant equity market and several blockbuster initial public offerings. Copper prices are volatile due to the expectations of new U.S. Tariffs, and the supply restrictions that will be imposed in response to the surge in AI-related demand. After a review, U.S. commerce secretary Howard Lutnick will?update the president on the refined copper?market and domestic refining capacity on Tuesday. Global X Copper...

Oliver Blume, the head of Volkswagen, is planning a historic overhaul to adapt to structural changes in the global automotive market. Rising Chinese competitors, tariffs, and weak demand for cars in Europe are all affecting its business model. The crisis has increased scrutiny on Europe's largest automaker. It has been struggling for years with a complex structural design, a weak share performance, and some stakeholders' resistance to painful costs cuts. PARALYSED CONGLOMERATED Volkswagen's "governance" and "structure and ownership" are unique to the auto industry. They combine powerful unions and the billionaire Porsche-Piech family, who control the majority of the voting...

The dollar was firmer amid expectations that U.S. rates will be raised, and gold edged up from a near seven-month low. As of 1150 GMT spot gold was up 0.4% to $4,031.29 an ounce after hitting its lowest level in November 2025 earlier in session. U.S. gold futures for August delivery fell 0.2% to $4.045.30/oz. "The failure to maintain gains (for gold), highlights the current fragile mood, where traders continue to?sell into strength instead of buying into weakness, which is a noticeable shift from behaviour seen in the past few years," said Saxo Bank Analyst Ole Hansen. Bullion fell more...

The main British car lobby estimated that British electric vehicle manufacturers will be forced to pay PS1.4billion ($1.85billion) in tariffs, if the European Union and the United Kingdom cannot reach an agreement on the local content requirement. The Society of Motor Manufacturers & Traders (SMMT), said that the post-Brexit regulations on the sourcing parts, which were delayed a second time in 2023, are now set to come into effect as of January. This will result in a 10% tariff imposed?on 70% battery electric and plugin hybrid models sold within the EU. A similar enforcement could make many of these important...

Labor?office data showed on?Tuesday that the number of unemployed in Germany dropped unexpectedly?in June. According to a recent poll, analysts and economists predicted a rise of 7,000. The total adjusted number of unemployed people dropped to 2.984 millions, below the '3 million mark. In June, the seasonally adjusted unemployment rate remained at?6.3%. This is unchanged from previous months. In a recent statement, the head of the Labour Office, Andrea Nahles, said that there was little evidence of change on the labour market. The unemployment rate is only marginally decreasing, while the employment that is subject to Social Security contributions continues...

The main British car lobby estimated that British electric vehicle manufacturers will have to pay PS1.4 billion ($1.85 billion) in tariffs, if the European Union does not reach a'solution' on the?local?content?requirements (also known as?rules of origin). In a press release, the Society of Motor Manufacturers and Traders said that the imposition of rules on sourcing parts will be delayed again in '2023 and now is due to come into effect 'from January. This will result in a 10% duty on 70% of battery -electric and plug in hybrid models sold?within the EU. This would reduce the competitiveness and affordability of...

Ferrari and BMW have introduced new models with lightweight, cost-effective aluminum wiring. This is accelerating the shift away from copper as the dominant material for electric wiring ever since the invention two centuries ago of the electric batteries. JPMorgan predicts that the decisions will affect around 2% global copper demand in this year. Tesla and Chinese EV makers have also made similar moves. The structural increase in copper prices could lead to even more copper being switched over to aluminium. This is due to the increased demand for data centres and green energy, as well as the shortage of copper....

Volkswagen CEO Oliver Blume’s plan to close German factories and 'cut up to 100,000 jobs' is more than just a cost-saving measure. It could also be an attempt to change a corporate structure that has held back progress for years. Sources say that Europe's largest?automaker? is considering its biggest-ever restructuring. This includes doubling the planned job cuts, and closing four German factories. It does this to combat tariffs, rising costs, and increasing competition from Asia. The company is also considering plans to separate passenger cars and parts into separate divisions. This could be a test of the limits of the...

Gold prices fell on Monday as recent hostilities in Gulf added to inflation fears and expectations of rate hikes by the U.S. Federal Reserve, putting pressure on the non-yielding material. As of 1053 GMT, spot gold was down by 1.3% to $4,036.19 an ounce. U.S. Gold Futures for August Delivery fell by 1.1%, to $4.051/oz. Bullion experienced a weekly decline of 1.7% on Friday, and is on course for a monthly loss in excess of 10%. A U.S. official announced on Sunday that Iran and the United States had agreed to cease recent hostilities and re-start talks regarding their dispute...