Jerry Lin
The Latest
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Oil Prices Rebound 2% as U.S. Demand Surges, Middle East Tensions Simmer
Oil prices climbed nearly 2% Wednesday, rebounding from a steep early-week decline as U.S. inventory data pointed to robust fuel demand and markets weighed the stability of a tenuous ceasefire between Israel and Iran. Brent crude futures rose $1.22, or 1.8%, to $68.36 a barrel, while U.S. West Texas Intermediate gained $1.25, or 1.9%, to $65.62. 
Oil prices climbed nearly 2% Wednesday, rebounding from a steep early-week decline as U.S. inventory data pointed to robust fuel demand and markets weighed the stability of a tenuous ceasefire between Israel and Iran. Brent crude futures rose $1.22, or 1.8%, to $68.36 a barrel, while U.S. West Texas Intermediate gained $1.25, or 1.9%, to $65.62. -
U.S. Consumer Confidence Slumps in June as Tariff Anxiety and Job Market Concerns Deepen
U.S. consumer confidence dropped sharply in June, reversing much of May's gains and renewing concerns about the resilience of the American economy amid ongoing trade tensions, job market uncertainty, and fears of a potential recession. The Conference Board reported Tuesday that its consumer confidence index fell 5.4 points to 93.0, down from 98.4 in May. 
U.S. consumer confidence dropped sharply in June, reversing much of May's gains and renewing concerns about the resilience of the American economy amid ongoing trade tensions, job market uncertainty, and fears of a potential recession. The Conference Board reported Tuesday that its consumer confidence index fell 5.4 points to 93.0, down from 98.4 in May. -
Oil Prices Plunge 8% After Iran Targets U.S. Base But Avoids Disrupting Oil Flow
Oil prices plunged 8% Monday after Iran retaliated against U.S. airstrikes with a missile attack on a U.S. base in Qatar that left global energy flows untouched. Markets interpreted the move as symbolic and restrained, easing fears of disruption to oil exports through the vital Strait of Hormuz and lifting U.S. stocks. 
Oil prices plunged 8% Monday after Iran retaliated against U.S. airstrikes with a missile attack on a U.S. base in Qatar that left global energy flows untouched. Markets interpreted the move as symbolic and restrained, easing fears of disruption to oil exports through the vital Strait of Hormuz and lifting U.S. stocks. -
Oil Prices Fall Sharply as Trump Delays Decision on Iran Strike
Oil prices fell more than 3% Friday as President Donald Trump opted to delay a decision on direct U.S. involvement in the escalating Israel-Iran conflict, citing a potential window for diplomatic talks over Iran's nuclear program. Oil prices fell more than 3% Friday as President Donald Trump opted to delay a decision on direct U.S. involvement in the escalating Israel-Iran conflict, citing a potential window for diplomatic talks over Iran's nuclear program. -
Iran Rejects U.S. Talks, Demands Israel Halt Strikes Before Ceasefire Discussions
Iran hardened its stance against the United States on Friday, rejecting multiple U.S. overtures for negotiations and insisting that any ceasefire discussions can only begin once Israel halts its military operations. The statements, issued separately by President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, signal a sharp escalation in Tehran's diplomatic posture amid ongoing conflict. 
Iran hardened its stance against the United States on Friday, rejecting multiple U.S. overtures for negotiations and insisting that any ceasefire discussions can only begin once Israel halts its military operations. The statements, issued separately by President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, signal a sharp escalation in Tehran's diplomatic posture amid ongoing conflict. -
Fed to Hold Rates as Inflation Jitters Mount Amid Trump Tariffs, Mideast Turmoil
The Federal Reserve is widely expected to hold interest rates steady on Wednesday, resisting pressure from President Donald Trump to cut borrowing costs, as escalating tensions in the Middle East and uncertainty over U.S. tariffs cloud the economic outlook. Policymakers continue to weigh competing signals from a slowing domestic economy and mounting inflation risks. 
The Federal Reserve is widely expected to hold interest rates steady on Wednesday, resisting pressure from President Donald Trump to cut borrowing costs, as escalating tensions in the Middle East and uncertainty over U.S. tariffs cloud the economic outlook. Policymakers continue to weigh competing signals from a slowing domestic economy and mounting inflation risks. -
Japan’s Exports to U.S. Plunge Nearly 25% Amid Trump Tariffs, Trade Deficit Hits ¥637.6 Billion
Japan posted a trade deficit of ¥637.6 billion ($4.4 billion) in May as exports slumped 1.7% year-over-year, weighed down by a dramatic 24.7% decline in automobile shipments to the United States following new tariffs imposed by President Donald Trump. The drop in exports marked the sharpest monthly contraction since September 2024, and came alongside a 7.7% fall in imports, driven by weakening domestic demand, Japan's Finance Ministry reported Wednesday. 
Japan posted a trade deficit of ¥637.6 billion ($4.4 billion) in May as exports slumped 1.7% year-over-year, weighed down by a dramatic 24.7% decline in automobile shipments to the United States following new tariffs imposed by President Donald Trump. The drop in exports marked the sharpest monthly contraction since September 2024, and came alongside a 7.7% fall in imports, driven by weakening domestic demand, Japan's Finance Ministry reported Wednesday. -
UK Inflation Holds at 3.4% in May, Keeping Bank of England on Course for Rate Hold
UK inflation eased slightly in May but remained stubbornly above the Bank of England's 2% target, bolstering expectations that policymakers will hold interest rates steady at 4.25% during Thursday's monetary policy meeting. The Office for National Statistics reported Wednesday that the consumer price index rose 3.4% in the 12 months to May, marginally down from April's upwardly revised figure. 
UK inflation eased slightly in May but remained stubbornly above the Bank of England's 2% target, bolstering expectations that policymakers will hold interest rates steady at 4.25% during Thursday's monetary policy meeting. The Office for National Statistics reported Wednesday that the consumer price index rose 3.4% in the 12 months to May, marginally down from April's upwardly revised figure. -
US Retail Sales Fall 0.9% in May as Auto Slump and Tariff Anxiety Hit Spending
Retail sales in the United States declined 0.9% in May, the Commerce Department reported Tuesday, reflecting a sharper-than-expected pullback in consumer spending following a surge in March as buyers rushed to beat tariffs on imported goods. The decline, which exceeded the 0.6% drop forecast by Dow Jones, underscores growing consumer caution amid geopolitical uncertainty and lingering effects from trade tensions. 
Retail sales in the United States declined 0.9% in May, the Commerce Department reported Tuesday, reflecting a sharper-than-expected pullback in consumer spending following a surge in March as buyers rushed to beat tariffs on imported goods. The decline, which exceeded the 0.6% drop forecast by Dow Jones, underscores growing consumer caution amid geopolitical uncertainty and lingering effects from trade tensions. -
Oil Prices Surge as Israel-Iran Strikes Hit Refineries, Gas Field
Oil prices surged sharply in early Asian trading Monday as Israel and Iran launched direct attacks on each other's energy infrastructure, stoking fears of wider supply disruptions across the Middle East. Brent crude futures rose $2.37, or 3.2%, to $76.60 per barrel, while U.S. West Texas Intermediate climbed $2.39, or 3.3%, to $75.37. Both benchmarks had settled 7% higher Friday, after jumping more than 13% during the session. Oil prices surged sharply in early Asian trading Monday as Israel and Iran launched direct attacks on each other's energy infrastructure, stoking fears of wider supply disruptions across the Middle East. Brent crude futures rose $2.37, or 3.2%, to $76.60 per barrel, while U.S. West Texas Intermediate climbed $2.39, or 3.3%, to $75.37. Both benchmarks had settled 7% higher Friday, after jumping more than 13% during the session.
