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...Oil markets shrugged off Israel’s retaliatory strikes against Iran after a shortlived price spike on Friday, in a sign of investors’ confidence that the action will not escalate into a broader conflict in...
...Oil prices fell sharply as concerns over a glut outweighed fears that supplies could be disrupted by a widening conflict in the Middle East....
...Crude oil prices, which climbed higher than $90 a barrel this month for the first time since October, have buoyed oil majors....
...London’s FTSE 100 added 0.5 per cent as rising metals prices buoyed index heavyweights in the mining sector....
...Driven by a fall in food prices, it was also lower than the rate of price growth in the US for the first time since March 2022....
...Yields on benchmark 10-year US Treasuries fell 0.04 percentage points to 4.58 per cent, reflecting rising prices....
...Helima Croft, head of commodities research at RBC Capital Markets, said current oil prices were not an “accurate barometer” of the pressure building in the region....
...Oil prices climbed to their highest level since October after strong manufacturing data from the US and China boosted traders’ expectations for demand....
...Prices are still higher then they were throughout the first quarter....
...Stephanie Stacey...
...“The US economy is still not landing [weakening] and the risk of higher oil prices has increased....
...The moves came after the Office for National Statistics said that consumer prices rose at an annual rate of 3.2 per cent in March, down from 3.4 per cent in February but ahead of the 3.1 per cent forecast...
...“Geopolitical risks are leading to higher commodity prices and that’s combining with existing inflation and interest rate anxieties....
...Stephanie Stacey What will the ECB say about interest rate cuts?...
...The region-wide Stoxx Europe 600 was up 0.3 per cent shortly after the opening bell, led by strong gains for commodity-linked stocks as oil prices climbed on rising tensions in the Middle East and stronger...
...Mining stocks were among the few positive performers in Europe as metals prices continued to rally on hopes that a rebound in economic growth will stimulate demand....
...European stocks slipped on Friday, following Wall Street lower as flaring tensions in the Middle East spooked traders and sent oil prices higher....
...European stocks closed higher on Thursday, buoyed by rising commodity prices. The region-wide Stoxx Europe 600 gained 0.2 per cent, as did Germany’s Dax. France’s CAC 40 added less than 0.1 per cent....
...Pictet Asset Management has bought more commodities in recent months in expectation that improved demand may spark price rises, while offering a buffer to stubborn consumer price growth....
...European stocks climbed higher on Monday, boosted by mining stocks as metals prices continued to rise....
...It warned, however, that interest rates may stay higher for longer than expected amid stubborn inflation — particularly price rises caused by geopolitical tensions....
...Gains for energy and mining groups pushed European stock markets higher on Monday, as metals prices extended recent rallies....
...Oil prices rose after Ukraine struck oil refineries deep inside Russia and official figures showed US stockpiles had dropped....
...The biggest driver for traders this week is likely to be the February reading of the Federal Reserve’s preferred inflation gauge — the core personal consumption expenditures price index — which is due on...
...Oil prices climbed above $92 per barrel for the first time since October on rising fears of a widening conflict in the Middle East....
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