Major OPEC+ producers will gather in Riyadh this weekend to debate oil output cuts after the Saudi-led group revised its meeting plans for a second time. Top officials from Kazakhstan, Russia, the United Arab Emirates and Kuwait are among those due to convene in the Saudi capital on Sunday, according to officials. They’ll discuss prolonging …
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The Yemeni militant group Houthis said they launched a second attack on USS Dwight D. Eisenhower, a United States aircraft carrier, north of the Red Sea. They also claimed they targeted a US destroyer and three other vessels. A Houthi spokesperson said the Eisenhower was attacked with “a number of missiles and drones.” There are …
The White House expressed disappointment with the initial response of Israeli Minister without Portfolio Benny Gantz to United States President Joe Biden’s proposed hostage deal, Walla News reported, citing a US official. Gantz and Defense Minister Yoav Gallant were briefed before the speech, though details of Gantz’s reaction remained undisclosed. Washington is also said to be …
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Former United States President Donald Trump took to Truth Social again to comment on him being found guilty on 34 counts of first-degree falsifying business records by claiming he is “a political prisoner of a falling nation.” “But I will soon be free, November 5th, and Make America Great Again!” he added in capital letters. Trump …
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United States President Joe Biden urged Hamas to accept Israel’s proposal for a new ceasefire deal. “Now is the time to raise your voices and demand that Hamas comes to the table, agrees to this deal, and ends this war that they began,” Biden wrote on X, formerly known as Twitter. Previously, Biden confirmed that …
Biden’s three-part plan for cease-fire, hostage release First, a six-week “full and complete ceasefire” including “withdrawal of Israeli forces from all populated areas of Gaza, the release of a number of hostages including women, the elderly, [and] the wounded” and the release of “hundreds of Palestinian prisoners” by Israel. The second phase would commence after …
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Core PCE price index rose 0.2% in April, smallest gain of year Inflation-adjusted spending fell, restrained by tepid services The Federal Reserve’s preferred measure of underlying US inflation moderated in April and consumers dialed back their spending, supporting plans for an eventual reduction in interest rates. The so-called core personal consumption expenditures price index, which …
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The United States completely removed its offshore temporary Gaza aid pier, Deputy Pentagon Press Secretary Sabrina Singh announced during a press briefing. “The IDF has fully removed the US-military built pier from the coast of Gaza. The pier sections have been relocated to Ashdod for repair and rebuilding,” Singh added while reiterating that the repairs …
Oil sank despite US data showing the biggest drop in the nation’s stockpiles in five weeks West Texas Intermediate crude for July delivery slumped $1.32, or 1.7%, to close at $77.91 a barrel on the New York Mercantile Exchange. July Brent crude settled at $81.86 a barrel on ICE Futures Europe, down $1.74, or 2.1%. …
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Oil retreated as another weak sale of Treasuries raised concerns about rising yields, stoking a risk-off mood across financial markets. West Texas Intermediate settled below $80 as equities declined. The drop pared Tuesday’s 2.7% gains, which were driven by renewed geopolitical risks, including ship attacks in the Red Sea and Israel’s advance into the Gazan …
Continue reading “Oil Falls as Weak Treasury Auction Boosts Dollar”