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European stocks finished lower on Thursday, with the energy sector leading the losses due to the drop in crude oil prices. The STOXX Europe 600 index closed lower by about 1%, logging its biggest decline and its lowest closing level since July 8, at 456.20 points. Oil and gas stocks …

The United States Senate could be voting on the bipartisan infrastructure bill next Wednesday, Senate said Majority leader Chuck Schumer said on Thursday. The $1.2 trillion plan includes spending on roads, bridges, and other infrastructure projects. “All parties involved in the bipartisan infrastructure bill talks must now finalize their agreement …

The United States import price index surged by 1% in June, official data showed on Thursday. This marked the seventh consecutive monthly increase for import prices. Despite coming in line with market expectations, the rise in the cost of imported goods showed another element contributing to the surging inflationary pressures. …

The Index of the NY Fed’s Empire State Manufacturing Survey improved sharply to 43 from 17.4 in June. This reading fell short of the market expectation of 18 by a wide margin.

Industrial Production in the United States expanded by 0.84 on a monthly basis in June, the US Federal Reserve reported on Thursday. This reading followed May’s growth of 0.7% and came in slightly weaker than the market expectation for an increase of 0.7%.

The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 21.9 in July from 30.7 in June. This reading came in weaker than the market expectation of 28.

There were 360,000 initial claims for unemployment benefits in the US during the week ending July 10, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 386,000 (revised from 373,000) and came in line with the market expectation.

In its latest monthly report, OPEC said that it expects the world oil demand to rise by 3.28 million barrels per day to 99.6 million barrels per day in 2022, per Reuters. “World oil demand in 2022 to reach comparable pre-pandemic levels.”“OPEC sticks to forecast 2021 world oil demand will …

Gold prices extended gains to hit a month high on Thursday, July 15th, after US Federal Reserve Chairman Jerome Powell calmed concerns about an early easing of monetary support, sending the dollar and US Treasury yields down. Spot gold was up 0.3% at $1,831.70 an ounce, after hitting its highest …

Goldman Sachs expected that an agreement between Saudi Arabia and the UAE regarding oil supplies would be a catalyst for a rise in prices in the coming months, as the American investment bank kept its Brent price forecast in the summer at $80 a barrel. An OPEC + source told …