Latest news with #Traders
Wall Street Journal
an hour ago
- Business
- Wall Street Journal
Week of Middle East Conflict Pushes Oil Prices Higher
Fears of a spiraling Middle East war put Wall Street in a holding pattern this week, with oil prices grinding higher and choppy stock trading leaving major U.S. indexes little changed. Brent crude futures, the international pricing benchmark, closed Friday at $77.01 a barrel, an 11% jump since Israel launched a ferocious air campaign against Iran. Traders feared a worst-case scenario in which Tehran could shock the global economy by cutting off ship traffic through the Strait of Hormuz, a chokepoint for oil and gas supplies.
The National
12 hours ago
- Business
- The National
Oil prices slip as Trump announces two-week pause on Iran action
Traders grasp at the hope of a diplomatic solution as Iran's Foreign Minister meets his European counterparts
Yahoo
20 hours ago
- Business
- Yahoo
Most Asian Currencies Strengthen; Middle East Tensions in Focus
Most Asian currencies strengthened against the dollar in early Asian trading, as traders keep an eye on escalating hostilities between Israel and Iran.
Reuters
5 days ago
- Business
- Reuters
Rupee braces for more losses on oil risks; RBI likely to provide support
MUMBAI, June 16 (Reuters) - The Indian rupee is set to extend losses at Monday's open, weighed by fears that the intensifying Israel-Iran conflict is likely to increase oil prices further. Expectations that the Reserve Bank of India (RBI) will step in to curb depreciation pressures amid oil risks may offer some support to the local currency, traders said. The 1-month non-deliverable forward indicated an open in the 86.16-86.20 range, versus 86.08 in the previous session. The Indian currency had slipped to 86.20 on Friday — its weakest level in over two months — following Israel's attack on Iran. While it recovered from the day's lows, likely due to an RBI intervention, it still logged its worst daily performance in more than a month. With the Israel-Iran conflict escalating over the weekend and on Monday, the rupee is unlikely to find relief. Early on Monday, Israel's air force attacked sites in central Iran with surface-to-surface missile. Brent crude jumped at open on Monday, climbing past $78, before pulling back. "Oil's getting jumpy, and if prices keep climbing, it's hard to bet against (dollar/rupee) moving higher," a dealer at a foreign bank said. "That said, RBI won't just sit back — they'll keep a lid on things like they always do." Other Asian currencies were mostly weaker at the start of the week, while the dollar index was little changed. The focus this week is on a series of central bank policy decisions, with the U.S. Federal Reserve's meeting on Wednesday taking centre stage. "A further escalation in Iranian-Israeli tensions could take oil prices above $80 and would mean more upside for the dollar. The Fed was already likely to keep rates on hold through the third quarter and the latest developments only reinforce that," ING Bank said in a note. KEY INDICATORS: ** One-month non-deliverable rupee forward at 86.26; onshore one-month forward premium at 9.25 paise ** Dollar index up at 98.30 ** Brent crude futures up 1% at $75 per barrel ** Ten-year U.S. note yield at 4.42% ** As per NSDL data, foreign investors sold a net $383mln worth of Indian shares on Jun. 12 ** NSDL data shows foreign investors bought a net $5mln worth of Indian bonds on Jun. 12
Yahoo
6 days ago
- Climate
- Yahoo
Leith gala day cancelled as 'appalling and dangerous' weather conditions hit Edinburgh
The popular Leith gala day has been cancelled as 'appalling' weather conditions hit Edinburgh. The event kicked off on Saturday, June 14, but organisers have since made the decision to pull the festival due to 'dangerous thunder and lightning'. It comes amid a yellow weather warning for adverse conditions across Edinburgh and the Lothians. READ MORE: Hollywood actor spotted on Edinburgh city centre street leaving fans starstruck READ MORE: Man arrested over shooting of two gangland Scots outside of Spanish bar Organisers claim it "was not an easy decision". A statement published online reads: "Due to appalling weather and dangerous thunder and lightning, for safety reasons we are closing the gala day event. "This was not an easy decision. We did try to persevere but today the weather was not on our side. "Thanks to all traders and public that braced the weather. Leith Festival." Join Edinburgh Live's Whatsapp Community here and get the latest news sentstraight to your messages. Locals have been left gutted by the circumstances. One person said: "Such a shame but safety must come first. Well done to everyone today for trying to make it happen". Another said: "So sorry for all of you who I know put so much work into organising this event." During the day Met forecasters warn spray and sudden flooding could lead to difficult driving conditions and some road closures as well as a small chance of communities being cut off by flooded roads. They also say, where flooding or lightning strikes occur, there is a chance of delays and cancellations to public transport. Power cuts could also occur and homes and businesses could be flooded quickly.
