Crude oil prices are recording declines in mid-trading today, Thursday, July 10, after recording gains of more than 1% at the beginning of the European session. A Reuters report indicated that some sources indicated that OPEC+ is considering suspending additional oil production increases after the expected increase next month at the alliance's meeting in early August. US crude (NYMEX) is...
Cryptocurrencies are recording collective gains in mid-trading on Thursday, July 10, as Bitcoin, the world's most expensive cryptocurrency, maintains its $111,000 level after hitting a historic high yesterday, Wednesday, when it tested $112,000, benefiting from continued institutional demand, increased risk appetite in the cryptocurrency market, and a rise in market capitalization. The minutes of the US Federal Reserve's meeting two...
Asian markets closed mixed at the end of trading on Thursday, July 10, as Japanese markets closed lower. Chinese indices rose, and the Korean Kospi index gained more than 1.5% after the central bank's meeting. In economic data released this morning, figures released by the Bank of Japan showed that annual wholesale price inflation slowed for the third consecutive month...
The U.S. Energy Information Administration's report released moments ago showed a rise in inventories of 7.1 million barrels in the week ending July 4, compared to expectations for a decrease of 1.7 million barrels. Gasoline inventories fell by about 2.7 million barrels, while distillate inventories, which include heating oil and diesel, fell by about 0.8 million barrels. Brent crude is...
Data from China's National Bureau of Statistics showed early Wednesday, July 9, that the annual consumer price index (CPI), a measure of inflation, rose in June after four consecutive months of declines, reaching 0.1%, following a -0.1% decline in May. Expectations were for a -0.1% decline, as the index had been in negative territory since February, falling by 0.7%, and...
The Reserve Bank of New Zealand's (RBNZ) Monetary Policy Committee (MPC) decided to keep the official cash rate unchanged at 3.35% at its meeting this morning, Wednesday, June 9, as expected, following a series of cuts that have lasted for six consecutive meetings. The statement issued by the bank indicated that annual consumer price inflation is approaching the top of...
The Reserve Bank of Australia's Board of Directors surprised markets at its meeting this morning, Tuesday, July 8, by keeping monetary policy unchanged, contrary to expectations. The Board kept interest rates at 3.85%, while expectations had been for a 25 basis point cut, bringing them to their lowest level since May 2023. The Bank's interest rate statement stated that inflation...
Crude oil prices stabilized at the start of the European session today, Monday, July 7, the opening session of the week, paring losses from the start of the Asian session after OPEC+ decided to increase production in August by more than expected. Some reports indicated that the actual increase in production was less than planned so far. Brent crude rose...
Japanese and Chinese markets recorded declines in most of their major indices at the close of trading on Monday, July 7, the opening session of the week, as concerns over tariffs returned to markets following US President Donald Trump's remarks on Sunday. Japanese markets were also affected by financial concerns ahead of the Senate elections. President Trump announced on Sunday...
Crude oil prices are trading down more than 1% at the start of trading today, Friday, July 4, the closing session of the week, after OPEC+ decided to advance its meeting by one day, in addition to statements from Iran supporting its commitment to the Nuclear Non-Proliferation Treaty and the resumption of nuclear talks with the United States. US crude...