Commodities

Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, succeeding Justin Trudeau. In his first public statements as leader, Carney made it clear that he intends to address the challenges posed by U.S. President Donald Trump’s aggressive trade policies. The Trump administration’s escalating global trade war has …

Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil prices managed a marginal weekly gain, marking the first increase in a month. This comes as the market grapples with a complex interplay of factors, including escalating trade disputes, renewed sanctions, and ongoing conflict.A Tightrope Walk for …

In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an all-time high as investors flocked to the precious metal amidst escalating global economic anxieties. This historic rally underscores gold’s enduring status as a safe-haven asset in times of uncertainty.   Spot gold witnessed …

The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CAR-T cell therapy, Breyanzi, the biopharmaceutical company announced on Friday. Key Details of the Approval: New Indication: Breyanzi is now approved for treating adults with relapsed or refractory follicular lymphoma who have undergone at least …

Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Ukraine conflict remains unresolved, limiting the prospect of increased Russian energy supplies. Key Oil Price Movements: Brent Crude Futures: $70.52/barrel, up 0.9% (+64 cents). West Texas Intermediate (WTI): $67.26/barrel, up 1.1% (+71 cents). Market Drivers: …

Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-EU trade tensions and weaker-than-expected U.S. inflation data, which bolstered expectations of potential Federal Reserve rate cuts. Key Gold Price Movements: Spot Gold: $2,986.62/oz, after hitting a record high of $2,993.90/oz earlier. Gold Futures (April): …

The US dollar is showing renewed strength, shaking off recent dips and climbing back above the 104.00 mark on the Dollar Index (DXY). This resurgence, fueled by rising US Treasury yields and escalating anxieties over a potential global trade war, is sending ripples across currency and commodity markets. The shift …

A dramatic escalation in the ongoing trade dispute between the US and Europe has ignited, with the US administration threatening to impose a crippling 200% tariff on European alcoholic beverages. This move comes as a direct response to the European Union’s (EU) retaliatory tariffs on American spirits, marking a rapid …

Gold prices have ignited a spectacular rally, surging past previous records and brushing against the $3,000 threshold, a feat achieved despite the headwinds of a robust US dollar and elevated Treasury bond yields. In a display of raw bullish power, XAU/USD soared to an all-time high of $2,971 a troy …

The International Energy Agency (IEA) has revised its oil demand growth estimates for Q4 2024 and Q1 2025, citing worsening macroeconomic conditions driven by global trade tensions. Revised Oil Demand Forecasts The agency now expects global oil demand to increase by 1.03 million barrels per day (bpd) in 2025, down …