Latest news with #NissanSecuritiesInvestment
Yahoo
6 days ago
- Business
- Yahoo
Oil prices rise as trade deals take centre stage
Oil (BZ=F, CL=F) Oil prices rose on Thursday morning, supported by renewed optimism surrounding US trade negotiations and a sharper-than-expected decline in American crude inventories, both of which eased investor concerns about global economic pressure. Brent (BZ=F) crude futures gained 0.6% to trade at $68.90 per barrel, at the time of writing, while West Texas Intermediate (CL=F) futures climbed by the same margin to $65.67 a barrel. The uptick followed signs of progress in tariff negotiations between Washington and its trading partners, which analysts said calmed fears over potential economic fallout. 'Buying was driven by optimism that progress in tariff negotiations with the US would help avoid a worst-case scenario,' Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities, told Reuters. Read more: Lloyds increases dividend as profits jump by 5% 'Still, uncertainty over US-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains,' he added, predicting WTI will likely remain range-bound between $60 and $70. On the supply side, data from the US Energy Information Administration (EIA) revealed that crude inventories fell by 3.2 million barrels last week to 419 million barrels, a larger drop than analysts had anticipated. Gasoline stockpiles also posted a significant decline, falling by 1.7 million barrels to 231.1 million, nearly double the expected 908,000-barrel draw. Meanwhile, distillate inventories, which include diesel and heating oil, rose by 2.9 million barrels to 109.9 million. Despite the increase, they remain near their lowest seasonal levels since 1996. Gold (GC=F) Gold prices slipped in early European trading on Thursday as improving global trade sentiment curbed demand for traditional safe-haven assets, overshadowing support from a weaker US dollar. Gold futures were down 0.5% to $3,380.50 per ounce, at the time of writing, while spot gold dropped 1.4% to $3,377.15 per ounce. The move came as trade tensions appeared to ease, with US president Donald Trump reaching a bilateral agreement with Japan to reduce tariffs on automotive imports. Meanwhile, European Commission officials signalled that the US and EU were edging closer to a deal that would impose a 15% tariff on certain European imports while waiving duties on others. Read more: FTSE 100 LIVE: Stocks rise amid hopes the EU and US will reach trade deal The developments lifted broader market risk sentiment, dimming demand for gold as a hedge. "Yesterday, gold prices were seen building up for the next bullish run until the news came out on trade front, triggering some profit-taking," said Brian Lan, managing director at GoldSilver Central. "We've seen the dollar has also weakened quite a bit, and of course, this also supports gold. So, I think this is a small retracement at this moment. We are, in fact, still quite bullish on gold." Indeed, the US dollar index ( fell to its lowest level in more than two weeks, offering a measure of support for bullion by making it cheaper for non-dollar holders. Pound (GBPUSD=X, GBPEUR=X) The pound held steady against the US dollar on Thursday, trading around $1.3559, as the currency pair remained near two-week highs. The move was underpinned by broad-based dollar weakness amid rising investor appetite for risk assets, fuelled by optimism over potential last-minute trade agreements from the Trump administration ahead of the looming 1 August tariff deadline. The greenback faced selling pressure across major currencies, lending support to sterling and driving cable further into bullish territory. Stocks: Create your watchlist and portfolio The US dollar has been facing selling pressure across the market, driven by broad expectations that trade agreements could be reached between the Trump administration and other trading partners. This provided a boost for the pound, pushing it further into the bullish side. However, the downside for the dollar could be restrained, with easing concerns about the Federal Reserve's independence. US Treasury secretary Scott Bessent said late Thursday that a nominee for the next Fed chair is likely to be announced in December or January, adding there was "no rush" to select a successor to Jerome Powell. Elsewhere, the pound remained relatively unchanged against the euro, trading at €1.1529 at the time of writing. In equities, the FTSE 100 (^FTSE) was up this morning, climbing 0.6% to 9,114 points. For more details, on market movements check our live coverage in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
6 days ago
- Business
- CNBC
Oil prices climb on U.S. trade optimism, drop in crude stockpiles
Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures LCOc1 gained 24 cents, or 0.4%, to $68.75 a barrel by 0032 GMT. U.S. West Texas Intermediate crude futures climbed 25 cents, or 0.4%, to $65.50 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in U.S.-European Union trade talks, following President Donald Trump's tariff deal with Japan. The agreement lowers duties on auto imports and spares Tokyo from new levies in exchange for a $550 billion package of U.S.-bound investment and loans. "Buying was driven by optimism that progress in tariff negotiations with the U.S. would help avoid a worst-case scenario," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. "Still, uncertainty over U.S.-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains," he added, predicting WTI will likely remain range-bound between $60 and $70. Two European diplomats said on Wednesday that the EU and the U.S. are moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions, potentially paving the way for another major trade agreement following the Japan deal. On the supply side, U.S. Energy Information Administration data showed U.S. crude inventories fell last week by 3.2 million barrels to 419 million barrels, exceeding analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. Geopolitical tensions remained in focus. Russia and Ukraine held peace talks in Istanbul on Wednesday, discussing further prisoner swaps, though the two sides remain far apart on ceasefire terms and a possible meeting of their leaders. Separately, foreign oil tankers were temporarily barred from loading at Russia's main Black Sea ports due to new regulations, two industry sources said on Wednesday, effectively halting exports from Kazakhstan through a consortium partly owned by U.S. energy majors. The U.S. energy secretary said on Tuesday that the U.S. would consider sanctioning Russian oil to end the war in Ukraine. Meanwhile, the EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude.
New Straits Times
6 days ago
- Business
- New Straits Times
Oil prices rise on US trade optimism, drop in crude inventories
TOKYO: Oil prices rose on Thursday, buoyed by optimism over US trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in US crude inventories. Brent crude futures gained 21 cents, or 0.3 per cent, to US$68.72 a barrel by 0335 GMT. US West Texas Intermediate crude futures climbed 22 cents, or 0.3 per cent, to US$65.47 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in US-European Union trade talks, following President Donald Trump's tariff deal with Japan. The agreement lowers duties on auto imports and spares Tokyo from new levies in exchange for a US$550 billion package of US-bound investment and loans. "Buying was driven by optimism that progress in tariff negotiations with the US would help avoid a worst-case scenario," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. "Still, uncertainty over US-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains," he added, predicting WTI will likely remain range-bound between US$60 and US$70. Two European diplomats said on Wednesday that the EU and the US are moving toward a trade deal that could include a 15 per cent US baseline tariff on EU goods and possible exemptions, potentially paving the way for another major trade agreement following the Japan deal. On the supply side, US Energy Information Administration data showed US crude inventories fell last week by 3.2 million barrels to 419 million barrels, exceeding analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. Gasoline stocks also fell by 1.7 million barrels to 231.1 million barrels, nearly double expectations for a 908,000-barrel draw. Distillate stockpiles, including diesel and heating oil, rose by 2.9 million barrels in the week to 109.9 million barrels - still near their lowest seasonal level since 1996, ANZ analysts said in a note. "This suggests demand over the northern hemisphere summer has been relatively strong," ANZ said. Meanwhile, geopolitical tensions remained in focus. Russia and Ukraine held peace talks in Istanbul on Wednesday, discussing further prisoner swaps, though the two sides remain far apart on ceasefire terms and a possible meeting of their leaders. Separately, foreign oil tankers were temporarily barred from loading at Russia's main Black Sea ports due to new regulations, two industry sources said on Wednesday, effectively halting exports from Kazakhstan through a consortium partly owned by US energy majors. The US energy secretary said on Tuesday that the US would consider sanctioning Russian oil to end the war in Ukraine. Meanwhile, the EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude. (Reporting by Yuka Obayashi in Tokyo and Emily Chow in Singapore; Editing by Jacqueline Wong)
Business Recorder
6 days ago
- Business
- Business Recorder
Oil prices climb on US trade optimism, drop in crude stockpiles
TOKYO: Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures gained 24 cents, or 0.4%, to $68.75 a barrel by 0032 GMT. U.S. West Texas Intermediate crude futures climbed 25 cents, or 0.4%, to $65.50 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in U.S.-European Union trade talks, following President Donald Trump's tariff deal with Japan. The agreement lowers duties on auto imports and spares Tokyo from new levies in exchange for a $550 billion package of U.S.-bound investment and loans. 'Buying was driven by optimism that progress in tariff negotiations with the U.S. would help avoid a worst-case scenario,' said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. 'Still, uncertainty over U.S.-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains,' he added, predicting WTI will likely remain range-bound between $60 and $70. Two European diplomats said on Wednesday that the EU and the U.S. are moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions, potentially paving the way for another major trade agreement following the Japan deal. On the supply side, U.S. Energy Information Administration data showed U.S. crude inventories fell last week by 3.2 million barrels to 419 million barrels, exceeding analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. Geopolitical tensions remained in focus. Russia and Ukraine held peace talks in Istanbul on Wednesday, discussing further prisoner swaps, though the two sides remain far apart on ceasefire terms and a possible meeting of their leaders. Separately, foreign oil tankers were temporarily barred from loading at Russia's main Black Sea ports due to new regulations, two industry sources said on Wednesday, effectively halting exports from Kazakhstan through a consortium partly owned by U.S. energy majors. The U.S. energy secretary said on Tuesday that the U.S. would consider sanctioning Russian oil to end the war in Ukraine. Meanwhile, the EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude.
New Straits Times
6 days ago
- Business
- New Straits Times
Oil prices climb on US trade optimism, drop in crude stockpiles
TOKYO: Oil prices rose on Thursday, buoyed by optimism over US trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in US crude inventories. Brent crude futures gained 24 cents, or 0.4 per cent, to US$68.75 a barrel by 0032 GMT. US West Texas Intermediate crude futures climbed 25 cents, or 0.4 per cent, to US$65.50 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in US-European Union trade talks, following President Donald Trump's tariff deal with Japan. The agreement lowers duties on auto imports and spares Tokyo from new levies in exchange for a US$550 billion package of US-bound investment and loans. "Buying was driven by optimism that progress in tariff negotiations with the US would help avoid a worst-case scenario," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. "Still, uncertainty over US-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains," he added, predicting WTI will likely remain range-bound between US$60 and US$70. Two European diplomats said on Wednesday that the EU and the US are moving toward a trade deal that could include a 15 per cent US baseline tariff on EU goods and possible exemptions, potentially paving the way for another major trade agreement following the Japan deal. On the supply side, US Energy Information Administration data showed US crude inventories fell last week by 3.2 million barrels to 419 million barrels, exceeding analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. Geopolitical tensions remained in focus. Russia and Ukraine held peace talks in Istanbul on Wednesday, discussing further prisoner swaps, though the two sides remain far apart on ceasefire terms and a possible meeting of their leaders. Separately, foreign oil tankers were temporarily barred from loading at Russia's main Black Sea ports due to new regulations, two industry sources said on Wednesday, effectively halting exports from Kazakhstan through a consortium partly owned by US energy majors. The US energy secretary said on Tuesday that the US would consider sanctioning Russian oil to end the war in Ukraine. Meanwhile, the EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude.
