In May, China saw a continued increase in crude stock builds, despite a decline in seaborne imports.Stockpiling rate exceeded 1 million barrels per day in May for the second-consecutive month, Vortexa said in its latest analysis. In May, China’s seaborne crude imports dropped to below 10 million barrels per day, an…
Worries over potential disruptions stemming from the Israel-Iran conflict are impacting the oil shipping industry. The costs associated with chartering tankers to transport oil from the Middle East to Asia have risen, leading to a slowdown in ship bookings, according to a Reuters report.Tensions in the Middle East escalated last week…
The USD/JPY exchange rate could be on the verge of a big move after forming a symmetrical triangle ahead of the Federal Reserve and Bank of Japan (BoJ) interest rate decisions. The pair was trading at 144 on Monday, a few points above the year-to-date low of 139.95. BoJ interest rate…
During the last two major crypto market booms in 2017 and 2021, stablecoins have been just a footnote. But now, they’re on the agenda at Amazon and Walmart board meetings. They are central to new financial regulations and legislations. Some of the world’s biggest retailers, tech giants, and payments companies are betting…
Oil prices climbed sharply last week following Israel’s airstrike on Iran and the latter’s retaliatory action on Tel Aviv.However, the rally is likely to be short-lived unless the conflict escalates further in the coming weeks, according to Daniel Ghali, a senior commodity strategist at TD Cowen. In a recent note…
EU Energy Commissioner Dan Jorgensen announced on Monday that the European Commission will not include measures to limit the EU’s dependence on Russian nuclear fuel in its proposals to ban Russian gas this week.This week, the EU executive is set to propose legal measures to achieve its stated goal of…
Nippon Steel’s long-delayed merger with US Steel has concluded a fraught chapter in industrial dealmaking, but some investors of Nippon Steel remain concerned about how the Japanese giant will finance the acquisition and planned capital expenditures.The “golden share” or stake set aside for the US government in the combined company…
Even as tensions simmer in the Middle East with the possibility of crude oil supply disruptions, prices are likely to be capped below the $80-per-barrel mark. This rise in tensions between Iran and Israel is likely to sustain a high oil price risk premium in the short term, given the heightened…
US stocks have recovered significantly over the past two months from the initial plunge catalyzed by the Trump administration’s tariff policy. S&P 500 currently sits some 20% above its April low.However, following the recent rally, the benchmark index looks “statistically expensive relative to its own history on all 20 of…
Asian stock markets started the trading week with a largely positive tone on Monday, though investors remained on high alert, carefully assessing the escalating tensions between Israel and Iran alongside a fresh batch of economic data from China. While the geopolitical situation fueled a jump in oil prices, most regional…