Global markets are experiencing a volatile Friday with a deepening tech sell-off across Asia and Wall Street, driven by price hikes from Apple and Microsoft. Oil prices are declining despite a Strait of Hormuz attack, while UK politics sees pressure on Andy Burnham, and Europe endures a record heatwave.
Oil prices eased after an initial jump following renewed violence in the Strait of Hormuz, where a cargo vessel was struck by an "unknown projectile." The incident, attributed to Iran by US officials, led to the IMO pausing ship evacuations and caused steep losses in Asian markets.
Oil prices surged after the UN maritime agency canceled its ship evacuation plan in the Strait of Hormuz following an attack on a cargo vessel. The incident, blamed on Iran by US officials, heightened regional tensions and caused Asian markets to fall, underscoring the fragility of peace.
Crude oil prices, including Brent and WTI, fell on Friday as concerns over supply disruptions in the Strait of Hormuz eased, despite earlier tensions and an unidentified projectile hitting a cargo ship. The decline follows a US-Iran peace conclusion, bringing prices near pre-war levels, while Venezuelan earthquake damage to oil infrastructure was limited.
Oil prices surged Thursday after Iran attacked a cargo vessel in the Strait of Hormuz, reigniting fears of heightened Middle East tensions. WTI futures rose over 2% to $71.92, and Brent climbed 2.1% to $75.26.
Global crude oil prices have fallen to their lowest levels since before the Iran conflict, with Brent around $72-73/barrel and US crude below $70. This eases inflation risks and reduces India's import bill, though retail fuel prices remain unchanged as retailers adjust based on average crude trends.
Oil prices, including Brent and WTI crude, fell to pre-conflict levels as over 20 tankers exited the Persian Gulf via the Strait of Hormuz following a US-Iran agreement, though Iran's IRGC issued a warning on designated transit routes.
Oil prices, specifically Brent crude, have fallen to pre-Iran war levels below $72.48 a barrel as traffic through the Strait of Hormuz resumes following a US-Iran Memorandum of Understanding and partial lifting of sanctions.
The Indian stock market, with Sensex and Nifty up over 1%, extended its rally on Thursday, driven by falling crude oil prices due to a US-Iran peace deal and strong global cues. The rupee also strengthened, though broader markets showed mixed momentum.
Oil prices, including Brent and WTI, fell to pre-Middle East war levels as over 20 oil tankers passed through the Strait of Hormuz following a US-Iran agreement. However, Iran's IRGC warned that safe passage requires designated routes, indicating continued risks to the key shipping lane.
Asian shares, particularly in Japan and South Korea, surged Thursday driven by strong earnings from U.S. chipmakers Qualcomm and Micron Technology. Oil prices fell as the U.S. and Iran negotiate, while Wall Street saw mixed results with tech losses offset by other sectors.
Bitcoin dropped to $59,060 as the US dollar strengthened to a 13-month high and oil prices fell, easing inflation fears. This, coupled with a slowdown in Strategy's Bitcoin purchases and strong AI sector earnings, weakens the investment case for alternative scarce assets like BTC.
Donald Trump has instructed the US Department of Justice to investigate oil companies for alleged price gouging, accusing them of not adequately lowering gas prices despite a sharp decline in crude oil costs following a US-Iran ceasefire and the reopening of the Strait of Hormuz.
US President Donald Trump orders DOJ investigation into major energy companies, alleging they are 'gouging' customers by not sufficiently lowering petrol prices after global wholesale oil price decreases.
President Trump has instructed the DOJ to investigate major oil companies for allegedly "gouging" consumers by not lowering gas prices commensurate with falling crude oil costs. Meanwhile, Meta is developing a prediction markets app using a points system, not real money.
US President Donald Trump orders DOJ probe into oil companies for not lowering pump prices commensurate with sharply lower oil prices they pay, despite global oil prices tumbling.
Oil prices dropped further on Wednesday, nearing four-month lows. This decline is attributed to signs that oil tankers in the Gulf may move through the Strait of Hormuz, coupled with a US sanctions waiver for Iran and easing tensions in Lebanon. Analysts caution that rebuilding global oil inventories will take time.
Oil prices fell as investors watched tanker traffic through the Strait of Hormuz. A US license allows Iranian oil imports and dollar payments until August 21, though concerns exist about Iran using profits for its military. Market optimism suggests a potential end to conflict.
Oil prices fell as investors watched tanker traffic in the Strait of Hormuz. A US license allows Iranian oil imports and dollar payments, but concerns linger about Iran rebuilding its military. Market optimism suggests a resolution to the conflict may be near.
Oil prices decline sharply after the US waives sanctions on Iranian oil, allowing it back into the US market, amidst progress in peace negotiations following the US-Israel war on Iran.
US Treasury issued a 60-day license authorizing oil production, delivery, and sale from Iran, allowing imports to the US and dollar payments. Oil prices fell overnight on the news, though concerns remain about Iran using profits for its military.
Gold prices are seeing limited gains despite falling oil prices, as central banks signal potential rate hikes to combat inflation. Geopolitical developments, including US-Iran talks and Israeli-Lebanese deconfliction, are also influencing the market, alongside a strengthening US Dollar.
Oil prices rose Tuesday after a sharp decline, as investors balanced optimism from US-Iran peace talks with uncertainty over crude shipments via the Strait of Hormuz. Brent crude futures increased to $78.15 a barrel, and WTI gained to $74.19.
Oil prices were flat on Tuesday after a previous day's drop, with investors watching crude shipment recovery through the Strait of Hormuz. Brent crude futures rose to $78.15 a barrel, and WTI gained to $74.19.
