Saudi Aramco has informed at least two European oil refining customers that they will receive no crude deliveries next month, after an attack on the kingdom’s key pipeline to the Red Sea, Bloomberg reported citing people familiar with the matter European customers normally receive Saudi crude through term contracts, guaranteeing steady monthly supply. The report
Gold and silver rose in trading Wednesday as falling oil prices and a small dip in bond yields offered some relief ahead of the Federal Reserve’s rate decision later in the day. Gold traded at $4,352.18, up 1.3%, while silver rose 1.56% to $64.63. Fed decision is today’s main event The Fed is expected to
Opendoor stock crashed to its lowest level since August 11 as concerns about its growth in a high mortgage environment continued. It slipped to $2.65, down by 75% from its highest point last year. Soaring mortgage rates are hitting its business The housing market in the US is facing substantial challenges this year as mortgage
Brent crude oil price pulled back today, September 11, as traders started booking profits after the recent rally. It also retreated ahead of a potential meeting between Iran and Gulf countries. It was trading at $104, down modestly from this week’s high of $109.85. Iran and Gulf countries meeting Brent and West Texas Intermediate benchmarks
Brent crude held above $100 a barrel on Thursday, extending a rally that is beginning to matter far beyond the energy market. The benchmark traded near $101 after climbing almost 30% since early August as attacks on shipping deepened concerns about prolonged disruption to Persian Gulf exports. Wall Street is now modelling scenarios where Brent
Gold and silver rose in early trading Wednesday as investors sought safety amid escalating US-Iran tensions, even as oil’s surge past $100 a barrel and elevated Treasury yields worked against the metals. Spot gold traded near $4,417.87, up 1.46%, while spot silver was at $67.37, up 2.46%, according to Wednesday’s market pricing. Oil spike and
Prediction market startup Kalshi said Tuesday that its monthly commodities trading volume had reached more than $400 million, exceeding cryptocurrency trading volume by four times at the same point in the respective category’s development. The rapid growth comes seven months after Kalshi launched its commodities markets as the company seeks to expand beyond event-based contracts
Oil prices climbed to a six-week high on Monday as fresh US-Iran strikes heightened tensions across the Middle East and raised concerns about disruptions to global crude supplies. Brent crude futures, the international benchmark, rose 1.5% to $97.73 a barrel, reaching $97.93 earlier in the session, its highest level since July 23. West Texas Intermediate
Flowra Ltd., a blockchain infrastructure company focused on validator and order flow solutions for Solana, has signed a Memorandum of Understanding (MOU) with Korea Gold Exchange Digital Asset Co. Ltd. (KorDA) to explore the use of gold-backed digital assets in supporting Solana validator infrastructure. Under the proposed model, KGLD, a gold-backed digital asset held or
Copper price remains volatile in the new week after recording its first weekly loss in five weeks. A surge in US imports, and the eased bets on a September interest rate hike are offering support to the red metal. However, a rise in inventories and the persistent economic uncertainties have curbed its gains. In the