Market News - Gold, Oil & Forex

The U.S. energy system has helped mitigate the shock loss of oil and LNG supply from the Middle East when the Strait of Hormuz closed to traffic and sent refiners and gas importers worldwide scrambling for alternative supply. The record American crude oil production and huge natural gas production and rising LNG exports were decades in the making, during which companies invested billions of dollars every year to increase oil, natural gas, and fuel supply, the American Petroleum Institute (API)...

The months-long closure of the Strait of Hormuz has led to severe fuel shortages around the globe, as companies battle to continue operations. Airlines have been hit hard as they struggle to obtain enough jet fuel to maintain their regular flight schedules. The U.S.-Israeli war on Iran led to the closure of the Strait of Hormuz – a key trade corridor connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, via which roughly 20 per cent of the world’s oil is transported when fully...

Europe is deepening its ties with North Africa to develop stronger clean energy connections between the two regions in support of a green transition. The European Union and several European countries have invested in Morocco and Egypt in recent years to support renewable energy development in countries with favourable climate conditions for energy production. Over the coming decade, Europe and North Africa are expected to establish a stronger clean energy trade corridor that will help both...

July's shockingly weak NFP report flipped September Fed odds toward a hold, but with Brent still above $80 and the Strait of Hormuz crisis unresolved, Treasury yields, the Dollar, and equities all stopped short of a full dovish repricing. The post Weak NFP Flips Fed Bets, but Oil Keeps Markets Trapped in Tug-of-War appeared first on ActionForex.

Our summary of recent economic events and what to expect in the weeks ahead. Canadian Highlights Canadian employment jumped 75k in July, with broad-based gains across industries, pushing the unemployment rate down to 6.4% and reinforcing signs of economic resilience despite ongoing trade uncertainty. Strong labour market and international trade data alongside improving housing activity, […] The post The Weekly Bottom Line: Stocks Hit All-Time Highs Amid Mixed Economic Data appeared first on...

Canadian manufacturing and wholesale sales data for June next Friday should reveal readings consistent with more real gross domestic product growth in June, capping off a solid Q2. The BoC highlighted two-sided risks to the interest rate in their prior policy meetings – risks of cuts tied to potential downside growth surprises and hike risks […] The post Canada’s Growth Momentum Likely Persisted Near the End of Q2 appeared first on ActionForex.

An $18 billion July gain hides stock swings of 40% in a month, a $50 billion gap at the top no ranking has seen before, and a spinning revolving door at the bottom.

The company is backed by Robert Friedland, who said the Syerston project “will be the world’s first source of primary mine supply for scandium end-users”.   

Despite continued hostilities in the Middle East and an expansion of the war to the Red Sea, oil traders have remained largely bearish on the commodity, betting on a quick peace deal-and they might get a nasty shock. Earlier this week, Brent crude sank below $80 per barrel, and WTI dropped below $75, after President Trump said peace talks between the United States and Iran had resumed, even though Iranian officials denied there were any talks in progress. However, Iran is negotiating a deal...

Europe desperately needs an energy storage revolution. As the region gets rocked by the third energy crisis in four years, the continent’s insufficient indigenous energy systems, and backups to those systems, has become abundantly and painfully clear. "We swore we’d learn. We promised things would change but here we are," a ‘highly frustrated European diplomat’ was recently (anonymously) quoted by the BBC in March.  As a result, the continent is now in an incredibly precarious position that...