What the commodity markets can look forward to from the Trump-Xi Summit
The trade in agricultural products, energy, and rare earths have become the major bargaining cards in the trade dispute between the United States and China. They are likely to be discussed again next week when President Donald Trump hosts his counterpart Xi Jinping at the White House. What else do we know?
Oil eases and Treasury yields fall as tech leads Wall St. to a higher close
Wall Street rebounded on Thursday, as falling US Treasury yields, easing oil prices and solid labor data helped the markets to move past 'the Federal Reserve’s first interest rate increase in more than?three years. The Nasdaq led a broad rally in the US stock market, which helped all three major US indexes close sharply higher.
Sources say that China rare earth firms have halted some US shipments due to geopolitical concerns.
Three sources have confirmed that some Chinese suppliers of rare earths are refusing to ship to the U.S. out of fear for repercussions by Beijing. This highlights the fact that access to these materials is still an issue for Washington, weeks before President Xi Jinping's visit. U.S. officials…
Kharg Island, Iran and its energy sector
Oil has jumped on the escalating tensions with Iran, including a post created by AI for U.S. president Donald Trump, who claimed to have seen?the Kharg Island hub of oil being destroyed', a claim that was deemed "laughable" by an Iranian official. A U.S. official stated on Monday that there was no evidence to support such an attack.
New York Times Business News - August 31,
These are the most popular?stories from the New York Times business pages. These?stories have not been verified and we cannot?guarantee?their accuracy. On Sunday, the U.S. forces attacked two Iranian rocket launchers that were attempting to disperse mines in the Strait of Hormuz. This was…
Wellbred, an oil trader sanctioned by the United States over Iran-related links
As part of its efforts to target Tehran's international financial connections, the United States has imposed sanctions against Singapore-based Wellbred Capital, and its trading companies in?the United Arab Emirates, and Switzerland. On Monday, the Office of Foreign Assets Control of the U.S.
Bessent: US Treasury will stick to its debt auction schedule, despite larger buybacks
Treasury Secretary Scott Bessent announced on Monday that the U.S. Treasury would continue its regularly scheduled auctions of debt, including those for long-dated securities, despite the?move? to increase the buyback size of 10- to 30 year?securities. Bessent responded to a question at a…
US sanctions against Iran are being expanded in an 'economic assault'
The Trump administration announced on Monday that it would be expanding the secondary sanctions imposed on countries and entities with business ties to Iran around the world. Washington is increasing economic pressure against Tehran as its war approaches six months. Treasury Secretary Scott…
Source: U.S. Treasury will expand scope of secondary sanctions against Iran
A source familiar with Trump's plans said that the U.S. Treasury is expected to expand the scope of secondary sanctions the Treasury can impose on entities and countries who maintain business ties with Iran. Sources said that the action was intended to send a final message to countries to…
Trump has threatened to isolate Iran. Who are Iran's trading partners?
The threat of Donald Trump, the U.S. president, to impose unprecedented economic war and isolation against Iran could have consequences for countries who trade with it. Trump warned that any country supporting Iran would face economic consequences. In recent years, Iran has traded with a number of major trading partners.
The weekend reads: Fed rethinking, EV race and yen rescue
Want to be inspired? Every Friday, Weekend Reads highlights what the Open Interest team has been watching, listening to, and reading. This week, we've selected articles on the Federal Reserve's monetary policy, electric cars, industrial policing, forex interventions, energy security, and investing. This weekend, we read... MIKE DOLAN.
The financial week in five charts - Yenterventions, refinery windfalls, and SpaceX's splurge
Open Interest (ROI), every Friday, distills the previous five days' financial data into five charts that highlight the major trends, surprises, and overlooked movements. JAMIE MCGEEVER is a columnist for ROI Markets. The U.S. Treasury has not made its first FX intervention, and it won't make its last. It was a very unusual move.
The US has lifted sanctions on Serbia's NIS oil company, which is owned by Russians.
Serbian energy Minister Dubravka Djedovic Handanovic announced on Instagram that the U.S. Treasury Office of Foreign Assets Control has granted another reprieve to Serbian-owned NIS oil until July 31. The waiver from the U.S. Office of Foreign Assets Control allows NIS to continue to import…
The U.S. seeks to waive sanctions on Serbia's NIS Oil Company, which is owned by Russians.
The company announced on Friday that Serbia's Russian owned NIS (NIIS.BEL), the only oil refinery in the country, had applied for a new U.S. sanctions waiver to continue 'operations' after July 1, when the existing one expires. NIS cannot import or process crude oil without the waiver. NIS supplies up to 80% the Serbian market…
MOL receives US license extension to negotiate the purchase of sanctioned NIS Oil firm, reports news agency
According to a report by the Serbian news agency Tanjug, the Office of Foreign Assets Control of U.S. Treasury has granted a license to Hungary's MOL energy company to negotiate a purchase of a majority stake in Serbia's Russian owned NIS up until July 1. The report did not provide any further…
MOL Hungary, Gazprom Neft Russia, and Gazprom will get an extension of NIS talks
Serbian President Aleksandar Vucic announced on Tuesday that the initial deadline had expired. He said that the talks between Hungary's MOL and Russia’s Gazprom and Gazprom should be extended by 15 days. Last October, the Office of Foreign Assets Control of the U.S. Treasury imposed sanctions…
Serbia concludes negotiations on shareholder agreement with Hungary's MOL regarding NIS oil company
Serbia completed Wednesday talks on a shareholders agreement with MOL, Hungary’s largest oil and gas company, regarding its minority stake in Russian-owned, U.S. sanctioned NIS Oil & Gas. Serbia's Energy Minister Dubravka Djedovic Handanovic announced this in an Instagram post. MOL's acquisition talks with NIS's majority owners…
Serbia's NIS wants a new US license to operate after 16 June
NIS Serbia, owned by Russians, operates the only oil refinery in Serbia. The company has now applied for a 'U.S. The company announced on Wednesday that it would apply for a new?U.S. NIS said that in its request to U.S. Treasury’s Office of?Foreign Assets Control (OFAC), it highlighted "the…
The US allows MOL, the Hungarian oil company, more time to negotiate with NIS, the Serbian oil company.
The?U.S. has?granted more time to Hungary's largest oil-and-gas company, MOL MOLB.BU. MOL announced late Saturday that the government will 'negotiate' the?purchase of a majority share in Serbian NIS NIIS.BEL. This oil company is controlled by Russia. The deal involves the purchase of a?56.16 % stake in?NIS held by Gazprom (SIBN.MM), based in Russia.
Serbia is not satisfied with MOL's proposal for NIS oil company
Belgrade was not happy with the revised proposal made by Hungary's MOL regarding its purchase of a majority share in Serbia's oil company NIS, said the country's energy minister on Wednesday. The talks between MOL, the majority owner of NIS and Russia's Gazprom and Gazprom (44.9% and 11.3% respectively) are separate.