Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Trump, Xi Focus on Trade and AI at White House Summit 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Add as a preferred source on Google
Saudi Arabia, the world’s top oil exporter, has cut its May crude oil prices for Asian buyers to the lowest level in four months. State-owned Saudi Aramco lowered the official selling price (OSP) for its flagship Arab Light crude by $2.30 to $1.20 per barrel above the Oman/Dubai average, marking the sharpest drop in over two years and the second consecutive monthly decline.
This price cut follows a surprise move by eight OPEC+ nations to accelerate oil production increases, adding 411,000 barrels per day in May—three times the initially expected boost and roughly 0.4% of global supply. The decision, coupled with rising global trade tensions, led to an 11% plunge in global oil prices for the week ending April 4, pushing prices to over three-year lows.
Analysts had forecasted a cut of $1.80 to $2 per barrel for Arab Light in Asia, reflecting falling benchmark prices and increased Russian crude exports to the region after sanctions-related disruptions early in the year. In March, Dubai crude's spot premium averaged $1.38 per barrel, significantly down from $3.33 in February.
For May, Aramco also reduced prices for other Asian crude grades by $2.30 per barrel. U.S.-bound exports saw a modest $0.20 cut, with Arab Extra Light priced at $5.85 above ASCI. In Europe, reductions were more moderate at $0.50 across most grades, with Arab Light for Northwest Europe now at $2.55 over ICE Brent and Mediterranean-bound crude at $2.35.
These strategic pricing adjustments reflect shifting market dynamics and increasing competition in Asia, especially as Russian supply rebounds and OPEC+ ramps up output.
