Iraq agreed with Kurdistan to resume oil exports through a pipeline in the semi-autonomous region, a boost for OPEC’s second-largest producer after the closure of the Strait of Hormuz forced output cuts.
The Fed is widely expected to hold interest rates steady this week, marking the central bank’s second pause of the year. The Fed’s closely watched “dot plot” forecast will offer clues about where interest rates may be headed in the months and years ahead
US stocks climbed on Monday as Wall Street weighed the likely impact of surging oil prices on the Federal Reserves interest rate path and looked for signs of easing in the Strait of Hormuz supply disruption.
Gold wavered, as the conflict in the Middle East entered a third week and investors weighed a softer dollar against continued threats to global oil supplies.
A Federal Reserve announcement on interest rates, comments from Fed Chair Jerome Powell, and earnings from AI darling Micron are on the way this week.
Stocks fell and global oil prices settled at $100 per barrel for the first time since 2022 as the effective closure of the Strait of Hormuz continued to roil markets.
The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at ?sea in what Treasury Secretary Scott Bessent said was a step to ?stabilize global energy markets roiled by the war on Iran.
Two oil tankers have been attacked in Iraqi waters, according to the country’s state oil marketer, prompting the nation’s oil terminals to suspend operations.
US stock futures moved lower late Wednesday as investors grappled with rising oil prices following a second straight mostly down day on Wall Street.
US stocks ended little changed on Tuesday to cap a volatile trading session as investors weighed President Trumps hint at a swift end to the Iran war, while oil futures trimmed losses.
The International Energy Agency has ?proposed the largest ?release of oil reserves in ?its history to bring down crude prices that have soared due ?to the ?U.S.-Israel war with Iran, the Wall ?Street Journal reported on Tuesday, citing officials ?familia
US stock futures fell late Monday after a turbulent session in which equities staged a sharp rebound after plummeting against soaring oil prices.
As the price of crude oil surpassed $110 a barrel Monday, reaching heights not seen since 2022, consumers were feeling the effects of the Iran war and its damage to worldwide energy production.
Federal Reserve officials say the war in Iran could impact the near-term inflation outlook and add to economic uncertainty, potentially pushing back the timeline for any further interest rate cuts under consideration until later this year.
US stock futures tumbled at the start of the week as oil prices surged past the $100-a-barrel mark. The sell-off followed a bruising stretch for equities, with the Dow closing out its worst weekly decline in nearly a year.
