The huge Super Heavy and Starship launch system underwent a final “flight readiness review” this past weekend. SpaceX engineers concluded that it is now prepared to conduct its first test flight. Elon Musk, the creator of SpaceX, made the decision public on Twitter early on Sunday morning. He stated that the vehicle was simply “awaiting …
The Starship vehicle from SpaceX is ready to launch Read More »
The U.S. dollar paused after its best performance this month against major peers as a firm U.S. labor market underpinned a Federal Reserve rate hike in one month. The yen, which is highly sensitive to long-term U.S. bond yields, was able to pare back more than 1% of Monday’s decline as 10-year Treasury yields also …
Oil prices advanced, meaning they continued their recent positive tone, ahead of the industry’s data on weekly U.S. crude inventories as well as easing U.S. inflation. U.S. crude futures advanced 0.92% to $80.43 a barrel, while Brent futures advanced 0.52% to $84.63 a barrel. The American Petroleum Institute will release its weekly statistics on U.S. …
Oil prices rose, continuing the recent positive tone Read More »
Oil prices advanced after three straight weeks of gains, as expected supply cuts from Saudi Arabia and other OPEC+ producers offset expectations of a slowdown in global growth that could drag back fuel demand. Crude oil prices rallied more than 6% last week after OPEC+ surprised the market with a new move to cut production …
The dollar held firm after Japan’s new central bank governor said in his first public remarks that it was important to maintain his predecessor’s policy direction by controlling the yield curve. The ten-year Treasury yield edged closer to the 3.415% mark in Friday’s retreating trade over the Easter holiday. Yields remained high at 3.39% at …
One of the biggest challenges the Fed has faced over the past period is curbing inflation. With prices for goods and services skyrocketing, consumers have taken the brunt of the dour global economic state. And as the economy remains downturned, a chain of consequences harms both corporate entities and consumers. The job market has been …
Russia exported a record amount of oil products in March as Moscow successfully developed alternative routes for its supply a month after Western sanctions came into force. Marine crude shipments in March 2023 totaled 3.12 million bpd, according to Kpler, up 31.2% year-on-year and slightly higher than the previous peak of 3.12 million bpd exported …
The U.S. dollar was near two-month lows as weak economic data reinforced speculation that the Federal Reserve is nearing the end of its tightening cycle. In contrast, the New Zealand dollar jumped after a bigger-than-expected interest rate hike. New Zealand’s central bank increased interest rates by 50 basis points high of 5.26%, surprising markets, with …
The pound hit a fresh 10-month high against the dollar, while the euro hit a two-month high as the dollar retreated again on market bets that the end of the US rate hike cycle is nearing. Sterling hit $1.2476, its highest level since June 2022, and was last below that level, up 0.42%. The euro …
The dollar rose against other currencies as inflation fears resurfaced after major oil producers unexpectedly cut production targets. Traders bet the Federal Reserve will raise interest rates again next term. Sunday’s announcement of targeted production cuts by OPEC and its allies, known as OPEC+, sent oil prices up about 7.5% in early trading in Asia …
Crude oil prices advanced, lifting the Dow and offering investors fresh results as a weekend OPEC+ oil supply glut rattled markets ahead of the start of the second quarter. Shortly after the opening bell, the S&P 500 advanced 0.42%, the Dow Jones Industrial was up 1%, and the tech-heavy Nasdaq Composite was off 0.4%. Crude …
The dollar is headed for a second straight quarterly loss as investors see US interest rates heading higher and expect the dollar’s yield advantage to reverse. As banking volatility weighed on global markets, a slow rise before a rush to safety in mid-March saw the dollar index retreated 1.12% for the quarter. The euro was …
Oil prices advanced of the release of key U.S. inflation statistics, which could point to expected changes in interest rates. Oil was down to its lowest level since November in the month. Brent futures, which have advanced nearly 6.3% this week, were up 33 cents, or 0.4%, at a high of $79.62. West Texas Intermediate U.S. …
Oil prices advanced as a surprise draw in U.S. crude inventories, and a pause in exports from Iraq’s Kurdistan region offset a smaller-than-expected cut in Russian supplies. Brent crude futures advanced 58 cents, or 0.72%, to $78.87 a barrel. Meanwhile, West Texas Intermediate crude futures advanced 71 cents, or 1%, to $73.68 a barrel. U.S. …
Oil prices rose due to a surprise drop in U.S. crude stockpiles Read More »
The pound held steady and was nearing its biggest monthly gain against the dollar since the fall. Meanwhile, the sterling advanced nearly 3% against the dollar in March and is heading for an eight-week peak. This week’s statistics showed that food inflation in the UK reached a record high of 17.52% in March. The shortage of …
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