The ongoing U.S.-Canada tariff war has created significant market uncertainty. Europe’s gas withdrawal season is coming to an end, with lower-than-average inventory draws due to warmer weather. Brent crude hit a six-month low earlier this week and speculative traders cut both long and short positions to reduce risk. On Tuesday, U.S. President Donald Trump threatened …
Iran’s Supreme Leader Ayatollah Ali Khamenei stated on Wednesday that negotiating with the United States will not remove Washington’s sanctions on his country but will only “increase” pressure. “If the goal of entering negotiations is for the sanctions to be removed, negotiating with this US administration won’t result in the sanctions being removed,” Khamenei clarified …
Summary of Weekly Petroleum Data for the week ending March 7, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 435.2 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. …
The United States started enforcing 25% tariffs on imported steel and aluminum, as per President Donald Trump’s announcement. Previously, trade restrictions mainly targeted Mexico, Canada and China, but the new tariffs now cover all steel and aluminum imports. The move eliminates exemptions from Trump’s 2018 metal tariffs and increases aluminum duties from 10%. While two rounds …
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Ukrainian forces hit and damaged the Moscow Oil Refinery and a Druzhba oil pipeline facility in Oryol Oblast in a fierce overnight drone attack on Monday, the General Staff of Ukraine’s Armed Forces has reported. According to Ukrainian officials, the giant refinery–capable of processing 11 million metric tons of oil per year and covers nearly half …
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Trump’s planned tariffs on steel, aluminum products from Canada rise to 50% Ontario Premier Ford vows to maintain electricity levy until US tariffs are removed Financial markets react negatively; S&P 500 index and Canadian dollar decline WASHINGTON, March 11 (Reuters) – President Donald Trumpon Tuesday doubled his planned tariffs on all imports of steel and aluminum products from …
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The world’s largest cryptocurrencies, Bitcoin and Ethereum, continued losing ground on Monday, with the first one falling below the $77,500 mark, reaching its lowest level since November 11, 2024. Meanwhile, ETH declined to the lowest point since November 3, 2023. The loss of interest in cryptos seems to be related to a mix of factors, including …
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Crude prices traded in the red on Monday, dropping over 1.5% amid an ongoing market selloff on Wall Street. The Dow Jones plunged more than 800 points during the intraday trade in New York after opening sharply lower and tech-heavy Nasdaq dropped to its lowest level since September 2024 on fears of an economic slowdown after US President Donald Trump …
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Kazakhstan will reduce the flow oil crude via the Caspian Pipeline Consortium by as much as 70% this month, a senior government official told local media. “To date, there have been no reductions in oil transportation through the CPC infrastructure from Kazakhstan. The lion’s share of Kazakhstan’s oil exports goes through this pipeline. However, in …
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The prices of the world’s largest cryptocurrencies fell on Sunday with Bitcoin dropping below $82,500 as investors panic amid economic uncertainty, regulatory fears, and massive liquidations. The decline was seemingly triggered by the announcement by the US of a Strategic Reserve and intentions to accumulate more and the US Securities and Exchange Commission (SEC) dropping its cases against …
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