Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East.
President Joe Biden on Monday hosted Iraq’s leader at the White House as his administration worked to prevent an escalation in Mideast hostilities following Iran’s weekend aerial assault on Israel. Iraqi Prime Minister Mohammed Shia al-Sudani was visiting for talks intended to focus primarily on U.
Oil prices extended losses in early trade on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East.
Traders had been anxiously watching to see how markets would react after the Islamic republic on Saturday launched its first strike on Israel from its own territory. Tehran sent drones and missiles towards the Jewish state in retaliation for a suspected Israeli attack on its consulate in Damascus on April 1 that killed several military commanders.
Israel's war cabinet was set to meet for the third time in three days on Tuesday, an official said, to decide on a response to Iran's first-ever direct attack, amid international pressure to avoid further escalating Middle East conflicts.
The potential for a reacceleration of U.S. inflation and prospect of outright war in the Middle East is starting to weigh heavily on traders and many investors, whose mindset is being described in words not frequently used.
Oil dipped for a second day on Tuesday as concerns about Middle East supply eased after Iran's weekend attack on Israel while stronger than expected U.S. retail sales dampened investor hopes for demand-spurring cuts to interest rates.
U.S. stocks are wavering and oil prices are easing Monday with hopes that international efforts to calm escalating tensions in the Middle East may help. The S&P 500 fell 0.2% in afternoon trading. It had been up as much as 0.
That charge was levelled in an article published by NBC News on Sunday; the news outlet reported that Mr Biden had “privately” expressed to aides and staff that Israel’s Benjamin Netanyahu “is trying to drag Washington into a broader conflict”.
Israel's war cabinet was set to meet for the third time in three days on Tuesday, an official said, to decide on a response to Iran's first-ever direct attack, amid international pressure to avoid further escalating the conflicts in the Middle East.
There's a global diplomatic push to try to avert a broader conflict in the Middle East following Iran's attack on Israel. The U.S. and others are appealing to both sides to calm regional tensions.
Treasury Secretary Janet Yellen warned Tuesday of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's "malign and destabilizing activity” in the region.
U.S. stock index futures edged lower on Tuesday, weighed by elevated Treasury yields as investors remained wary of the conflict in the Middle East, turning the lens on company earnings to gauge the strength of the economy.
Wall Street stocks bounced early Monday following solid US retail sales data as markets embraced hopes that the world will avert a sharp escalation of conflict between Iran and Israel.
Monday's nationwide protests called for the U.S. to pressure Israel to stop civilian casualties and suffering in the Gaza War. But it comes just as tensions are escalating in the Middle East with Iran's weekend attack on Israel.
Oil steadied on Tuesday with support from data showing China's economy grew faster than expected and Middle East tensions but weighed by concern that U.S. interest rates may stay higher for longer and reduce demand.
By Ankur Banerjee SINGAPORE (Reuters) -Asian stocks sank and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected U.S. retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.
By Trevor Hunnicutt and Simon Lewis WASHINGTON (Reuters) -Iraqi Prime Minister Mohammed Shia al-Sudani called for restraint in the Middle East on Monday during talks in Washington as tensions soar between Iran and Israel after Tehran's weekend strikes.
Wall Street wavered, U.S. Treasury yields rose and the Japanese yen hit a 34-year trough on Monday as solid data and a calmer Middle East after Iran's weekend attacks on Israel helped revive investor risk appetite.
Wall Street's main stock indexes rose on Monday after a bruising sell-off in the previous session on the back of disappointing earnings from some big U.S. banks, while escalating tensions in the Middle East made investors wary.
Wall Street's main stock indexes eyed a higher open on Monday after a bruising sell-off in the previous session on the back of disappointing earnings from some big U.S. banks, while escalating tensions in the Middle East made investors wary.
U.S. stock index futures rose on Monday, after Wall Street witnessed a bruising sell-off on the back of disappointing earnings from some big U.S. banks last week and escalating tensions in the Middle East made investors wary.
Wall Street stocks ended lower in choppy trading on Tuesday as Treasury yields climbed, with investors weighing the likely path of interest rates in a resilient U.S. economy with persistent inflation.
U.S. stocks closed sharply lower on Monday, as an early lift from a strong retail sales report succumbed to a jump in Treasury yields and concerns about rising geopolitical tensions between Iran and Israel.
The top U.S. diplomat for East Asia discussed Middle East developments, the South China Sea and Taiwan issues with Chinese counterparts in Beijing, the State Department said on Monday, the latest effort by the two countries to stabilize rocky ties.