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Yahoo
a day ago
- Business
- Yahoo
Crude Prices Gain on Doubts About an Early End to Russian-Ukrainian War
September WTI crude oil (CLU25) on Monday closed up +0.62 (+0.99%), and September RBOB gasoline (RBU25) closed up +0.0262 (+1.26%). Crude oil prices on Monday settled higher on speculation that there will be no resolution to the Russian-Ukrainian war anytime soon, which could lead to secondary sanctions on Russian crude exports that tighten the global oil supply. Dollar strength on Monday limited gains in crude. More News from Barchart Nat-Gas Prices Settle Lower on Forecasts for Cooler US Temps Crude Oil Little Changed Ahead of Trump-Zelenskiy Meeting Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Crude prices are awaiting any details of the results of Monday's meeting between Presidents Trump and Zelenskiy in Washington. Any resolution to the Russian-Ukrainian war could be bearish for crude prices, as an end to the war could mean allowing Russian crude to trade freely and could lead to an end to sanctions on Russian energy exports. Crude prices are also under pressure after President Trump signaled he was in no hurry to ramp up secondary sanctions on Russian energy exports if there was no quick end to the war. Concern about higher OPEC production is weighing on crude prices after OPEC+ on August 2 endorsed an additional 547,000 bpd increase in its crude production for September 1. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. OPEC+ has 1.66 million bpd of supplies that are currently due to remain offline until late 2026. OPEC July crude production fell by -20,000 bpd to 28.31 million bpd. A decline in crude oil held worldwide on tankers is bullish for oil prices. Vortexa reported today that crude oil stored on tankers that have been stationary for at least seven days fell by -12% w/w to 82.49 million bbl in the week ended August 15. Last Wednesday's weekly EIA report showed that US crude oil inventories rose +3.04 million bbls to a 2-month high in the week ended August 8. The weekly EIA report showed that (1) US crude oil inventories as of August 8 were -5.1% below the seasonal 5-year average, (2) gasoline inventories were +0.25% above the seasonal 5-year average, and (3) distillate inventories were -15.45% below the 5-year seasonal average. US crude oil production in the week ending August 8 rose by +0.3% y/y to 13.327 million bpd, modestly below the record high of 13.631 million bpd posted in the week of 12/6/2024. Baker Hughes reported last Friday that the number of active US oil rigs in the week ending August 15 was unchanged at 411 rigs, just slightly above the 3.75-year low of 410 rigs from August 1. Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.25-year high of 627 rigs reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Bloomberg
26-06-2025
- Business
- Bloomberg
Apollo's Zelter on Fed, Dollar US Exceptionalism
Apollo Global Management President Jim Zelter talks about President Donald Trump possibly naming his next pick early for Federal Reserve Chair, the US deficit, strength of the dollar and US exceptionalism. He is on "Bloomberg Surveillance." (Source: Bloomberg)
Bloomberg
20-06-2025
- Business
- Bloomberg
World Waiting to See If US Joins Iran Attacks Leaves Markets Uneasy
It's been just a week since Israel first attacked Iran, roiling global markets. Now investors are faced with guessing whether the US will join forces with Israel against Iran, and what the repercussions might be. The result is uneasy trading, with the MSCI All-Country World Index of stocks little changed for the week and a gauge of the dollar's strength heading for its best week since February. Crude is 3.5% higher, following last week's 12% surge, although oil dropped on Friday amid speculation any US attacks aren't imminent.
Yahoo
20-06-2025
- Business
- Yahoo
Most Asian Currencies Strengthen; Middle East Tensions in Focus
Most Asian currencies strengthened against the dollar in early Asian trading, as traders keep an eye on escalating hostilities between Israel and Iran.
Bloomberg
27-05-2025
- Business
- Bloomberg
Bloomberg Surveillance: Tariff Rally
Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney May 27th, 2025 Featuring: 1) Steve Chiavarone, Senior Portfolio Manager at Federated Hermes, talks about why he remains constructive on the US economy and the potential for a cyclical recovery in the US. The dollar bounced back, and equity-index futures for the S&P 500 and Nasdaq 100 jumped more than 1%, as President Donald Trump extended a deadline on implementing aggressive Euro-area tariffs. 2) Nicholas Burns, former US ambassador to China, joins for an extended discussion on US-China relations and where they stand in a second Trump administration. The plans for a new version of China's "Made in China 2025" campaign indicate that China will largely stick to its strategy of prioritizing manufacturing, despite criticism from the US and Europe, and will focus on developing core technologies such as semiconductors and new energy materials. 3) Jane Foley, Head of FX Strategy at RaboBank, talks about dollar weakness and the yen carry trade amid noise coming out of the Japanese bond market. Tong-term government bonds yields in Europe and Asia also fell, while the yen and other currencies declined, as investors reacted to the news from Japan. Japan's 20-year bond yield slid as much as 21 basis points after Bloomberg News reported the nation's finance ministry asked market participants for their views on the appropriate amount of government debt issuance. 4) Henrietta Treyz, co-founder at Veda Partners, joins to discuss the trade deals likely not to materialize for President Trump's administration, and what types of tariff rates the US could expect this summer 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Business Insider story on bringing plus-ones on work trips and a WSJ story on the skyrocketing cost of a Hamptons girls weekend trip.
