Browsing: Business

NEW YORK / Content Syndication Services / – Gold rose on Monday after touching its lowest level in more than a week, as lower oil prices reduced some inflation concern across bullion markets. Spot gold gained 0.5% to $4,182.39 an ounce by 1:50 p.m. ET. The metal had dropped on Friday to its weakest level since June 11. U.S. gold futures for August delivery settled 1% lower at $4,202.70 an ounce. The rebound followed a drop in crude prices after Iran cited progress in talks with the United States. Brent crude fell nearly 2%, easing one pressure point for markets…

WASHINGTON / Content Syndication Services / – Brent crude futures rose to $81.66 a barrel as supply concerns returned to the oil market. The global benchmark gained $1.09, or 1.35%, after touching an intraday high of $82.30. The move kept crude oil prices above $80 as traders tracked energy shipments through key Middle East export routes and monitored global inventory levels. The rise followed renewed concern over flows through the Strait of Hormuz, a narrow waterway that links Gulf producers with global markets. The route remains one of the world’s most important energy corridors. In 2024, oil flows through the…

NEW YORK / Content Syndication Services / – Wall Street indices closed higher Thursday as semiconductor stocks powered a broad rebound in U.S. equities. The Nasdaq Composite rose 1.91% to 26,517.93. The S&P 500 advanced 1.08% to 7,500.58. The Dow Jones Industrial Average gained 0.14% to 51,564.70. Chip shares led the session. The Philadelphia Semiconductor Index climbed 6.4%, far above the broader market. Intel rose 10.6% and finished at a record high. The move followed a statement by President Donald Trump that Apple had agreed to work with Intel on chip design and manufacturing in the United States. Technology was…

NEW YORK / Content Syndication Services / – Gold prices headed for a third straight weekly loss on Friday as a stronger U.S. dollar and firmer rate expectations weighed on bullion. Spot gold fell 2.1% to $4,121.95 an ounce by 0508 GMT. The metal touched its lowest level since June 11. It was down 3.8% for the week. U.S. gold futures for August delivery dropped 2.5% to $4,139.40 an ounce. The dollar rose to a one-year high, adding pressure on dollar-priced gold. A stronger dollar makes gold more expensive for buyers using other currencies. That shift can curb demand in…

WASHINGTON / Content Syndication Services / – Oil prices rose more than $2 a barrel on Thursday as traders reacted to new tensions around the Strait of Hormuz and a sharp fall in U.S. crude inventories. Brent crude futures climbed $2.30, or 2.47%, to $95.40 a barrel. U.S. West Texas Intermediate crude gained $2.60, or 2.89%, to $92.63 a barrel. The gains followed an earlier move in Asian trading, when Brent rose to $94.58 a barrel and WTI reached $91.74. U.S. crude futures had gained more than $3 earlier in the session before trimming part of the increase. The rise kept crude oil prices near recent…

NEW YORK / Content Syndication Services / – U.S. stocks closed mixed Tuesday as renewed pressure on technology and semiconductor shares pulled the S&P 500 and Nasdaq Composite lower. The Dow Jones Industrial Average rose 86.10 points, or 0.17%, to 50,872.11. The S&P 500 fell 19.08 points, or 0.26%, to 7,386.65. The Nasdaq dropped 250.84 points, or 0.97%, to 25,678.82. The session opened with gains but turned lower as tech selling resumed. The Nasdaq fell more than 3% during the day before cutting its loss. The S&P 500 also swung between gains and losses. The Dow stayed positive at the close, helped by strength…

NEW YORK / Content Syndication Services / – Global oil prices fell sharply as Brent crude futures dropped more than 4% during trading before settling lower, extending volatility in energy markets tied to Middle East supply routes. Brent closed down 3% at $91.45 a barrel after touching its lowest level since April 17. U.S. West Texas Intermediate crude settled 3.4% lower at $88.20 a barrel. The slide followed statements from Iran and Israel that they had stopped attacks after a call from U.S. President Donald Trump. The decline eased some of the recent pressure on oil prices, which had moved sharply during weeks…

WEF says geoeconomic fragmentation costs the global economy up to $307 billion a year and adds pressure to inflation, trade and finance.

Oil prices eased in Asian trading as Brent and WTI retreated, while traders weighed a Middle East ceasefire and tighter U.S. crude stocks.

Gold prices advanced as a softer U.S. dollar and lower crude oil supported bullion, with precious metals gaining across markets.