India has asked its state-owned refiners to consider increasing purchases of US and Venezuelan crude oil following a trade agreement that the Trump administration said included a pledge to halt imports of Russian barrels, reported Bloomberg, citing refinery executives familiar with the matter. The development places India’s energy procurement strategy under renewed global scrutiny as
At the moment, the oil market is riddled with different scenarios, which keep investors on their toes. The prospect of India completely stopping Russian oil imports may lead to market tensions and supply mismatch, according to experts. Moreover, experts argue, Russia would not be able to find alternative buyers if India stops purchasing oil from
Concerns over potential supply disruptions, stemming from escalating tensions between the US and Iran and the risk of attacks on Tehran or shipping, caused oil prices to tick up on Thursday morning. Meanwhile, a strong labour market in the US as indicated by the latest economic data also augurs well for energy markets, according to
Gold and oil prices tumbled on Thursday in a volatile session as traders assess geopolitical tensions and positive economic data. Gold prices slipped more than 2% and silver plunged 7% as stronger US employment data prompts traders to push back expectations for an early Federal Reserve (Fed) interest rate cut. Oil prices plunged by nearly
US employers added far more jobs than expected in January, delivering a rare upside surprise after months of subdued hiring and easing fears that the labor market was sliding into a prolonged slowdown. Payrolls rose by 130,000 last month, significantly above economists’ expectations, while the unemployment rate edged down to 4.3%, according to government data
Bitcoin, Ether, and XRP are all in the red as the broader cryptocurrency market shed billions in market cap over the last 24 hours. The bearish performance has spread to other leading cryptocurrencies, with Stellar (XLM) down by nearly 2%. XLM is trading below $0.1600 at the time of writing on Wednesday, extending its correction
Gold prices rose more than 1% on Wednesday as a weaker dollar and falling bond yields boosted sentiment. Gold prices climbed back over $5,100 per ounce, while silver rose more than 4% as investors digested key employment data from the US. Meanwhile, oil prices also jumped more than 2%, with Brent hitting $70 per barrel
US equities moved higher on Wednesday after a stronger-than-expected January jobs report eased concerns about slowing economic momentum and reinforced confidence in the resilience of the labour market. The Dow Jones Industrial Average rose 207 points, or about 0.4%. The S&P 500 gained 0.6%, while the Nasdaq Composite advanced 0.8%, as investors responded positively to
Reddit stock (NYSE: RDDT) is once again drawing attention on Wall Street. After spending much of last year under a cloud of doubt over growth and monetisation, the social platform is seeing sentiment turn. This time, the shift is being driven less by hype and more by something investors care deeply about: clear signs that
HYPE, the native coin of the Hyperliquid DEX, has lost 18% of its value since hitting its yearly high of $38 last week. It has now dropped below $30 and could record further losses as the broader market continues to underperform. The derivatives data further support this bearish sentiment, with rising short bets while funding