‘Zelenskyy should keep publicly silent' – Ukrainian opposition MP on Trump-Putin meeting
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Reuters
11 minutes ago
- Reuters
Oil falls as markets focus on US-Russia talks
LONDON, Aug 11 (Reuters) - Oil prices fell on Monday, extending last week's more than 4% decline, as investors looked to talks between the U.S. and Russia later this week on the war in Ukraine. Brent crude futures fell 45 cents, or 0.68%, to $66.14 a barrel by 0826 GMT, while U.S. West Texas Intermediate crude futures were down 49 cents, or 0.77%, to $63.39. U.S. President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine. The talks follow increased U.S. pressure on Russia, raising the prospect that penalties on Moscow could also be tightened if a peace deal is not reached. Trump set a deadline of last Friday for Russia, which invaded Ukraine in February 2022, to agree to peace or have its oil buyers face secondary sanctions. At the same time, Washington is pressing India to reduce purchases of Russian oil. UBS has lowered its year-end Brent crude forecast to $62 a barrel from $68, citing higher supply from South America and resilient output from sanctioned countries. An Exxon Mobil-led consortium began crude production four months earlier than expected at a fourth floating production, storage and offloading vessel in Guyana, Exxon said on Friday. Consultancy Energy Aspects estimated Indian refiners have already purchased WTI totalling 5 million barrels for August loadings, with an incremental 5 million barrels possible depending on tender outcomes, and 5 million barrels for September loadings. Trump's higher tariffs on imports from dozens of countries, which took effect on Thursday, are expected to weigh on economic activity as they force changes to supply chains and fuel higher inflation. Separately, data from the National Bureau of Statistics on Saturday showed China's producer prices fell more than expected in July.
Reuters
an hour ago
- Reuters
European shares extend gains ahead of US-Russia talks
Aug 11 (Reuters) - European shares rose on Monday, extending the strong momentum from last week on optimism over a potential Ukraine peace deal, while investors turned their attention to upcoming U.S. inflation data and tariff negotiations later in the week. The pan-European STOXX 600 index (.STOXX), opens new tab was up 0.3% by 0708 GMT, hovering near its strongest level since July 31. Ukrainian President Volodymyr Zelenskiy won diplomatic backing from Europe and the NATO alliance ahead of a Russia-U.S. summit this week, where Kyiv fears Russian President Vladimir Putin and U.S. President Donald Trump may try to dictate terms for ending the 3-1/2-year war. Trump, who is set to meet Putin in Alaska on Friday, said a potential deal would involve "some swapping of territories to the betterment of both (sides)." Hopes of a peace deal weighed on German defence companies. Shares of Rheinmetall ( opens new tab dropped 3.7%, while those in Renk ( opens new tab and Hensoldt ( opens new tab were down 3% and 2.1%, respectively. Orsted ( opens new tab plunged 22% after the Danish wind farm developer said it plans a 60-billion-crown ($9.4 billion) rights issue, citing adverse development in the U.S. offshore wind market. Northern Data ( opens new tab dropped nearly 3% after U.S. video platform and cloud services provider Rumble (RUM.O), opens new tab said it was considering an offer of about $1.17 billion for the German AI cloud group.
Reuters
2 hours ago
- Reuters
Gold slips 1% as investors focus on US-Russia talks on Ukraine
Aug 11 (Reuters) - Gold prices slipped 1% on Monday as market participants focussed on the upcoming U.S.-Russia talks over the war in Ukraine, and July inflation data that could offer more insight into the U.S. Federal Reserve's interest rate outlook. Spot gold was at $3,363.31 per ounce, as of 0703 GMT, after it hit its highest since July 23 on Friday. U.S. gold futures for December delivery dropped 2% to $3,423.10. "Cooling geopolitical tensions surrounding the war in Ukraine saw gold fall further, following Friday's announcement that U.S. President Donald Trump will meet with (Russia President) Vladimir Putin on U.S. soil," City Index senior analyst, Matt Simpson, said. Trump said on Friday he will meet Putin on August 15 in Alaska to negotiate an end to the war. Meanwhile, U.S. consumer price data is due on Tuesday, with analysts expecting the recently-imposed tariffs to nudge the core up 0.3% to an annual pace of 3%, above the Fed's 2% target. "A hot print could further strengthen the dollar and cap gains in gold, though I suspect support will remain in place overall as investors seek to scoop up discounts," Simpson said. Recent softer-than-expected U.S. jobs report boosted bets for a Fed rate cut in September. Markets imply around a 90% probability of a September easing, and at least one more cut by this year-end. Non-yielding gold thrives in a low-interest-rate environment. Also on the radar are Sino-U.S. trade discussions as Trump's August 12 deadline for a deal between Washington and Beijing looms. Meanwhile, COMEX gold speculators increased net long positions by 18,965 contracts to 161,811 in the week to August 5. On the technical front, spot gold may break support at $3,364 per ounce and fall towards the $3,314 to $3,342 range, according to Reuters technical analyst Wang Tao. Elsewhere, spot silver fell 0.9% to $37.97 per ounce, platinum slipped 1.3% to $1,314.75 and palladium eased 0.1% to $1,125.
