Brent and WTI crude oil prices fell by 0. 55% and 0.71% respectively, heading for their third monthly decline. A strengthening dollar and a slowdown in manufacturing activity in China affected the market, while increased supply from OPEC+ and the US offset the impact of sanctions.
The price of gold has risen above four thousand dollars per ounce for the first time, increasing by more than 50 percent this year. Investors are seeking safe-haven assets due to political turmoil and uncertainty, as well as the weakening dollar and US government bonds.
Brent and WTI oil prices fell after a rise caused by fears of fuel supply disruptions. Traders expect stronger US sanctions against Russian oil and are monitoring the consequences of tariffs imposed against India.
Wall Street's relentless rise this summer has pushed stock valuations close to record levels, prompting warnings of "euphoric" markets entering "bubble" territory. The S&P 500 index has reached historic peaks, and the cost of borrowing for US corporations has approached its lowest level in decades.
Brent and WTI oil prices fell amid Iran's reaffirmation of commitment to nuclear non-proliferation and expectations of increased OPEC+ production. The US plans to resume nuclear talks with Iran next week.
Oil prices fell by more than $2 a barrel on OPEC+ plans to accelerate production. This raised concerns about increased supply in the market.
Brent crude fell to $65. 42 a barrel, WTI to $61.65. Economists fear a recession due to the trade war, Barclays lowered its oil price forecast.
Barclays analysts warn that new US tariffs, especially for Europe and China, could lead to a recession. High tariffs and uncertainty create risks for corporate profits.
Leading Wall Street banks are planning to sell $3 billion worth of loans issued to Elon Musk to buy Twitter in 2022. The sale will take place a week after the successful sale of $5.5 billion of debt led by Morgan Stanley.
WTI and Brent oil prices rose after Trump imposed new trade duties on imports from Canada, Mexico, and China. Canadian energy products will be subject to a 10% duty, and Mexican energy products - 25%.
Tesla plans to launch a self-driving taxi service in Austin in the summer of 2025. The company has also announced the release of the Optimus robot and large-scale production of cyber taxis by 2026.
Banks plan to sell most of the debt assets of X (formerly Twitter) at 90-95 cents per dollar. The sale of $3 billion of debt is an attempt to minimize losses from the $44 billion deal with Musk.
Capri Holdings is looking for a buyer for its luxury brand Versace due to falling sales. The Italian fashion house Prada is considered a potential buyer, with an estimated deal value of up to $2.19 billion.
NNEGC Energoatom has signed a loan agreement with a consortium of banks for £181 million to purchase nuclear fuel from Urenco. The 5-year loan is guaranteed by the UK government through the UKEF.