Gold hit another all-time high, silver pulled back...
Gold hit another all-time high,silver pulled back after hitting its first new all-time high since 1980 yesterday, bitcoin continued to fade following a massive liquidation event, and oil tumbled after the IEA said its record oversupply of crude is bigger than previously thought.
Oil fell as escalating trade tensions between China and the US diminished...
Oil fell as escalating trade tensions between China and the US diminished demand for risky assets, while the International Energy Agency increased its estimate of a record crude surplus.
Brent crude futures fell 93 cents, or 1.5%, to settle at $62.39 a barrel. U.S. West Texas Intermediate crude was down 79 cents, at $58.70. Both contracts were at a five-month low. In the latest tit-for-tat between Beijing and Washington, China placed limits on five US entities of one of South Korea's biggest shipbuilders and threatened further retaliatory measures.
The Paris-based IEA on Tuesday raised its forecast of an unprecedented oil oversupply in 2026. Worldwide crude supplies will exceed demand by almost 4 million barrels a day next year, a record annual overhang, the agency said.
However, the Dow and the S&P 500 managed to recover all their morning losses after Fed Chair Jerome Powell took the stage during midday trading, saying the U.S. central bank could reach the point in coming months where it could end its program to shrink its balance sheet.
But that rally didn't fully hold through the close, as remarks from President Donald Trump later in the day added fresh uncertainty to the markets by threating to cut off cooking-oil trade with China.
Greenhouse gas emissions in the Permian Basin have decreased by nearly...
Greenhouse gas emissions in the Permian Basin have decreased by nearly 20% since 2022 even as oil and natural gas production has increased, according to an analysis by S&P Global Commodity Insights. The decline is attributed to improved methane management, advanced monitoring systems, equipment upgrades and artificial intelligence integration. "In recent years, more barrels are being produced with fewer emissions -- something we hadn't seen before in the basin," says Kevin Birn, head of the Center for Emissions Excellence at S&P.
Now two weeks old, the government shutdown could begin to take a substantial...
Now two weeks old, the government shutdown could begin to take a substantial bite out of the US economy this week as more furloughed federal employees miss their paychecks due on Wednesday. The shutdown has already led to flight delays, national park closures, and IRS phone lines going down. And as more employees don’t see a paycheck (and more get laid off), it could dent consumer spending, which drives the bulk of economic growth. Neither Democrats nor Republicans seem to be in a rush to resolve this.
