Author: Anthony Persuader
Financial Journalist with global coverage.
Oil Rises Near $71 as Trump Warns Russia of Secondary Sanctions The prices of crude oil increased on Tuesday amidst supply-side uncertainties and weak global economic performance expectations, while fresh sanctions against Russian exports loom. The IMF estimates the global economy will only grow by 3% while a number of ratings agencies have build bearish estimates for 2025. Brent crude oil futures rose more than 1% toward $71 per barrel on Tuesday, extending a 2.4% gain in the previous session driven by stronger-than-expected US economic data and growing concerns over global supply risks. WTI crude oil futures rose more than…
Oil Prices Dip Ahead of US Federal Reserve Rates Decision Oil prices dipped in the global commodity market amid lingering uncertainty over the global economic outlook following the US-EU trade agreement, as investors awaited the Federal Reserve’s (Fed) interest rate decision. The international benchmark Brent crude fell around 0.22% to $69.41 per barrel, down from $69.57 at the previous session’s close. The US benchmark West Texas Intermediate (WTI) crude decreased by 0.31% to $66.51 per barrel, compared to $66.72 in the prior session. Washington and Brussels struck a deal Sunday that will impose 15% tariffs on most EU goods entering…
Kenya Spends 30% of Revenue to Service Debts—Review Note Reflecting African debt burden, interest payment on public debt consumed Kenyan government revenue, Moody’s Ratings said in a commentary note after completion of periodic review of ratings Moody’s completed a periodic review of the ratings of Kenya and other ratings that are associated with this issuer. The country’s credit ratings and its positive outlook remain unchanged The ratings agency said Kenya’s caa1 credit profile reflects the country’s very weak debt affordability, with interest payments consuming more than 30% of government revenue and large gross financing needs that contribute to elevated liquidity…
Oil Prices Increase as US Inventories Decline by 0.8% Oil prices climbed during early trading hours on Thursday as US inventories fell amidst global trade uncertainties and a weakening dollar. The market also reacted to US President Donald Trump’s disclosure that America may reach a tariff agreement with trading partners after success achieved with Japan, with hope that the EU and India, among others, will find a deal. The international benchmark Brent crude increased around 0.3% to $68.27 per barrel, up from $68.06 at the previous session’s close. The US benchmark West Texas Intermediate (WTI) crude rose by 0.32% to…
Bitcoin, Ethereum, XRP Drag Global Crypto Market Value Down Amidst increased activities, the market value of all cryptocurrencies fell by 0.14% to $3.92 trillion on Wednesday due to sell pressures on top 10 digital assets. Trading data from crypto exchange platforms showed that the top three crypto assets—Bitcoin, Ethereum, and Ripple—hit a roadblock as optimism eased amidst global trade uncertainties and pressures on economic gauges. The largest crypto asset (BTC-USD) declines to $118k level on Wednesday after recent positive and sharp price movement driven by optimism over U.S. regulatory milestones. Reflecting general market sentiment, popular altcoins were falling, with Ethereum…
Oil Prices Fall as Global Trade Uncertainties Weigh on Sentiment Oil prices fell in the commodity as global trade uncertainties weighed on investors’ sentiment. Uncertainty surrounding US trade policy weighed on oil prices on Wednesday, while data from the American Petroleum Institute (API) showing a drop in crude stocks limited the decline in prices. The international benchmark Brent crude fell around 0.5% to $68 per barrel, down from $68.04 at the previous session’s close. The US benchmark West Texas Intermediate (WTI) crude decreased by 0.9% to $65.25 per barrel, compared to $65.32 in the prior session. The volatility in prices…
Sustainable Development Goals: World Off Track 2030 Targets—UN Chief UN Secretary-General António Guterres has warned that the world remains far off track to meeting the Sustainable Development Goals (SDGs) 2030 targets. Addressing ministers at UN Headquarters in New York, Guterres called for urgent action to rescue lagging SDGs amid war, inequality, and fiscal strain. The remarks opened the ministerial segment of the High-level Political Forum on Sustainable Development (HLPF), the UN’s central platform for reviewing the 2030 Agenda and its 17 SDGs. With just five years left to meet the global goals, Guterres urged ministers to “transform these sparks of…
US Dollar Falls Ahead of Fed Chair Jerome Powell Speech In the forex market, the US dollar fell against its major trading partners, with the focus on home sales data for June later in the week, as Federal Reserve officials are in their ‘quiet period’ until after the July 29-30 Federal Open Market Committee meeting. Jerome Powell, US Fed Chair, will be speaking on Tuesday, and markets will parse every word for clues about the path of interest rates. The Fed has paused hikes, but sticky inflation has further fueled uncertainties about monetary policy direction. Reflecting negative sentiment, with the…
US Equity Indexes Mixed as Investors Digest, Earnings, Fed Chair The United States (U.S.) equity indexes ended the week mixed as investors digested quarterly earnings and June inflation data alongside President Donald Trump’s denial that he plans to fire Fed Chair Jerome Powell. The S&P 500 finished at 6,296.79 last Friday, up from 6,259.75 a week earlier. The Nasdaq Composite closed at 20,895.66, an increase from 20,585.53, while the Dow Jones Industrial Average concluded at 44,342.19, slightly lower than 44,371.51. Positive corporate earnings boosted risk appetite, with traders seeing no justification to go against the current trend. Both the S&P…
Crypto Market Cap Hits $4 Trillion as BTC, ETH, XRP Rally The global crypto market surged to $4 trillion as Bitcoin (BTC-USD), Ethereum (ETH-USD), and Ripple (XRP-USD) pulled off yet another historic breakout, blasting near $123,000 for the first time ever—topping its previous all-time high. BTCUSD has, however, spiraled backward on the back of profit-taking activities in the crypto market, while Ethereum (ETH-USD) blazed through its old resistance price level of $3500. The flagship crypto gained 0.38% in the last 24 hours following a wave of fresh Ethereum Traded Fund (ETF) buying, and an upbeat risk appetite spilled over from…