Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil prices climbed on Friday as markets reacted to potential tariffs by U.S. President Donald Trump on Mexico and Canada, the top crude suppliers to the U.S.
Brent crude futures for March, expiring Friday, rose 38 cents to $77.25 a barrel at 0110 GMT, while the more-active April contract increased 34 cents to $76.23. U.S. West Texas Intermediate (WTI) crude gained 49 cents to $73.22.
Despite Friday’s gains, Brent is set for a 1.6% weekly decline, while WTI has dropped 2%. However, for January, Brent is on track to gain 3.6%, marking its strongest month since June, while WTI is up 2%.
Trump has threatened a 25% tariff on Canadian and Mexican exports if they do not curb fentanyl shipments into the U.S., with a decision expected soon on whether crude oil imports will be affected.
Canada exported 3.9 million barrels per day (bpd) of crude to the U.S. in 2023, out of 6.5 million bpd of total U.S. imports, while Mexico supplied 733,000 bpd, according to the Energy Information Administration.
Oil prices remain volatile as geopolitical risks rise. "Crude prices fluctuated as investors weigh U.S. tariffs alongside new policy moves," said ANZ Bank analyst Daniel Hynes.
Additional factors keeping prices elevated include sanctions on Russia, restricted Venezuelan oil purchases, and pressure on Iran. "Geopolitical risks will drive oil prices higher, potentially compounded by the U.S. refilling its strategic petroleum reserve," Hynes added.
As uncertainty lingers over trade policies and global supply chains, crude markets remain on edge, with traders closely monitoring developments in Washington.
