Market Update

Oil prices declined today as fears of a long-term disruption to the Colonial Pipeline system of energy pipelines, the largest in the United States, diminished, while some US Gulf Coast refiners reduced production. US West Texas Intermediate crude futures fell 61 cents, equivalent to 0.94%, to $64.31 a barrel, after …

The main indices of the New York Stock Exchange (NYSE) closed lower on Monday, due to increased selling pressures by Wall Street investors who projected concerns about a rise in inflation. After opening higher and shortly hitting a new intraday record high, the Dow Jones Industrial Average lost all of …

Oil prices finished Monday’s trading marginally higher, on the back of concerns about a cyberattack on the Colonial Pipeline in the United States. Brent crude futures for July delivery rose by 4 cents to settle at the level of $68.32 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

Gold prices rose on Monday for the fourth consecutive session, supported by the decline of the U.S. Dollar (USD) and fears about a potential rise in inflation rates, which led to higher demand for safe havens. The yellow metal futures for June delivery gained $6.30, or 0.3%, to finish at …

Bitcoin maintained a negative trajectory on Monday, moving within a downward trend due to selling pressures. The world’s largest cryptocurrency in terms of market capitalization fell by more than 5% over the past 24 hours, extending its losses over the past seven days to about 2.5%. Bitcoin is currently trading …

The U.S. Dollar (USD) is showing a mostly negative performance on Monday, amid concerns among investors about the prospects of a rise in inflation resulting from the economic recovery from the coronavirus pandemic. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies, is …

European stocks finished Monday on a mixed note, opening the week with a fluctuating performance, as the markets witnessed hopes for recovery, as well as fears regarding a rise in inflation rates. The STOXX Europe 600 index closed higher by 0.11% at a new all-time record of 445.40 points. In …

Consumers in the United States expect a rise in inflation, amid the recovery from the coronavirus pandemic, resulting from higher housing prices, as shown by the results of a survey by the Federal Reserve Bank of New York on Monday. The April survey showed a median annual expectation for the …

The main indices of the New York Stock Exchange (NYSE) opened the new week on a varied note, with Wall Street investors mostly optimistic about the prospects of a strong recovery. Rising commodity prices also provided support to energy and mining stocks. The Dow Jones Industrial Average opened at a …

The European Central Bank chief economist, Philippe Lin, told a French newspaper that the European Central Bank could still increase bond purchases at its June meeting if such a step is needed to maintain favorable borrowing conditions. He also added that unemployment is not expected to return to its pre-pandemic …