Saudi supporters called for an Amazon boycott on Thursday, angered by the accusations that their crown prince had hacked Jeff Bezos’s phone. U.N. human-rights experts linked Crown Prince Mohammed bin Salman on Wednesday to the hacking of a phone belonging to the Amazon AMZN, -0.43% founder and Washington PostRead More →
U.S. stocks recovered from overnight losses to touch new records midday Wednesday, after remarks by President Trump suggested the U.S. and Iran were refraining from further military action in the aftermath of attacks on U.S. bases overnight in retaliation for last week’s killing of Maj. Gen. Qassem Soleimani by AmericanRead More →
Iran fired at least a dozen missiles early Wednesday, local time, at U.S. military bases in Iraq, in an apparent retaliation against the killing of Iranian Maj. Gen. Qassem Soleimani, a top general who led Iran’s Islamic Revolutionary Guard Corps. The Wall Street Journal reported that two military bases, oneRead More →
Gold’s haven appeal amid mounting U.S.-Iran tensions and uncertainty in the Middle East could turn sour following the precious metal’s recent price rally to near seven year highs. “The geopolitical instability is adding fuel to the fire,” said Maria Smirnova, senior portfolio manager at Sprott Asset Management, following a sharpRead More →
Oil prices added to gains on Monday, with the benchmarks for crude touching their highest levels in at least 7 months in the wake of Friday’s killing of Iranian Gen. Qassem Soleimani in a U.S. drone strike, which has ratcheted up Middle East tensions. West Texas Intermediate crude for FebruaryRead More →
MENAHEM KAHANA/AFP via Getty Images Tourists at the Khazneh, or Treasury, in Petra, Jordan. The popular destination is in a region of the world where tensions can be expected to rise after an U.S. airstrike in Baghdad, Iraq, killed a top Iranian military official. Iran and Iraq are obviously notRead More →
The death of an Iranian military leader in a U.S. airstrike has sent markets reeling. But U.S. consumers won’t feel the impact of rising oil prices immediately. Qassem Soleimani, the leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps, was killed in an airstrike on Baghdad’s international airportRead More →
It’s always useful to have a sense of Middle Eastern history, as financial markets swirled following the news of the U.S. airstrike that killed a prominent Iranian general in Baghdad. So let’s go way back to…September, when an unprecedented drone attack on Saudi Arabia oil processing facilities cut the country’sRead More →
Crude oil prices skyrocketed and U.S. stock market futures fell on Thursday night following news that a top Iranian general and an Iraqi militia’s deputy commander were killed in a U.S. airstrike at Baghdad’s airport. The Associated Press reported an airstrike killed Gen. Qassem Soleimani, head of Iran’s elite QudsRead More →
Qassem Soleimani, leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps, was killed in a U.S. airstrike at Baghdad’s international airport Friday, local time, escalating long-brewing animosities between Tehran and Washington. President Donald Trump authorized the airstrike that killed Soleimani, a top Iranian general who is considered oneRead More →
The Organization of the Petroleum Exporting Countries and their allies are expected to announce an agreement to reduce crude oil output further this week, even as the group, collectively known as OPEC+, struggles to see full compliance from all of its members. A committee of oil producers led by SaudiRead More →
Oil futures settled lower Tuesday, pressured by signs that Saudi Arabia is making progress in restoring production following attacks on processing facilities, as well as concerns over the global demand picture. Also contributing to declines in oil prices, Iranian President Hassan Rouhani on Tuesday said he was open to discussRead More →
Global crude production has taken a serious hit following the weekend attack on Saudi oil facilities, leading to a spike in oil prices, but for gasoline — and U.S. drivers — this market-moving event couldn’t have come at a better time. “Motorists are lucky this didn’t happen during summer drivingRead More →
Oil futures headed lower for a second day in a row on Wednesday as crude-oil markets reacted to Saudi Arabia’s report that it would fully restore some 5.7 million-barrels-a-day of crude output by month ended after last weekends attacks. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman on Tuesday saidRead More →
Oil futures dropped sharply on Tuesday, after registering one of the sharpest rallies on record a day earlier, following a report that output from Saudi Arabia will be quick to recover from weekend attacks on major crude facilities which disabled more than half of the kingdom’s daily crude production level.Read More →
Bonds issued by embattled U.S. energy companies with sub-investment-grade ratings saw a major boost Monday after oil prices spiked following Saturday’s attack on Saudi Arabia’s oil production facilities. Energy company defaults have weighed down the U.S. high-yield bond market all year as companies have struggled to balance slower global growthRead More →
A Yemeni rebel group aligned with Iran took credit for a drone attack against Saudi Arabia’s main oil refinery this past weekend. The range, payload, and accuracy of the attack, as well as the sophistication of the operation, suggest that the Houthis had a lot of help from their patronRead More →
Gold futures headed solidly higher on Monday after an attack on Saudi Arabian oil production sent oil prices skyrocketing and investors turning to haven assets, including bonds and precious metals. December gold GCZ19, +0.66% on Comex gained $9.70, or 0.7%, to $1,509.20 an ounce, after registering on Friday a weeklyRead More →
The chances of a deeper oil production cut by the Organization of the Petroleum Exporting Countries and their allies has seen a significant uptick in just the last couple of days, as the group known as OPEC+ readies for meeting on the sidelines of the World Energy Congress in AbuRead More →
An earlier version of this report incorrectly stated that prices for futures were trading in record territory. The most-active contract for gold is trading at its highest levels since 2013. The error has been corrected. Getty Images Geopolitical tensions helped nudge investors into gold on Tuesday, with the precious metalRead More →
S&P 500 retreats after notching its first record since April Minneapolis Fed President Kashkari advocates for a 50-basis point interest-rate cut June Flash manufacturing PMIs were the worst since September 2009; services were the worst since 2016 Stocks finished lower Friday amid heightened tensions between Iran and the U.S. butRead More →
The Strait of Hormuz, the world’s most sensitive oil-transportation choke point, remains in focus, after U.S. and Iranian officials on Thursday said Iran shot down a U.S. military drone near the waterway. “This event is raising fears Iran and the U.S. are headed toward a military confrontation that would haveRead More →
Crude futures notched modest gains on Friday, a day after an attack on two tankers in the Strait of Hormuz triggered concerns about disruptions to the global flow of oil and prompted a rally in prices. Despite Thursday’s price climb of more than 2%, however, oil futures face losses forRead More →
The Senate on Thursday voted against an effort to block sales of certain U.S. arms to Qatar and Bahrain, though Kentucky Republican Sen. Rand Paul’s push got support from more than 40% of the chamber. His measure targeting the arms sales to Qatar was defeated by a vote of 42-57,Read More →
U.S. Treasury prices rose Thursday, pulling yields lower, after two oil tankers came under attack in the Gulf of Oman, a key shipping artery for oil products. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, -0.17% edged lower by 1.4 basis points to 2.115%. The 2-year noteRead More →
