Jerry Lin
The Latest
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BP Posts Weakest Profits in Four Years as Oil Prices Slump and Debt Rises; Shares Fall
British oil major BP reported its weakest quarterly earnings in nearly four years, weighed down by falling crude oil prices and declining refining margins. The company's third-quarter results saw a 30% drop in profit to $2.3 billion, a significant decline from the $3.3 billion recorded in the same period last year. These figures mark BP's poorest performance since the fourth quarter of 2020, when the industry was hit hard by the COVID-19 pandemic. 
British oil major BP reported its weakest quarterly earnings in nearly four years, weighed down by falling crude oil prices and declining refining margins. The company's third-quarter results saw a 30% drop in profit to $2.3 billion, a significant decline from the $3.3 billion recorded in the same period last year. These figures mark BP's poorest performance since the fourth quarter of 2020, when the industry was hit hard by the COVID-19 pandemic. -
Is the Yen Still a Safe Haven Amid Election Uncertainty?
Despite the yen's overall weakness this year, it could still emerge as a favored safe-haven asset for investors in the face of the upcoming U.S. presidential election. 
Despite the yen's overall weakness this year, it could still emerge as a favored safe-haven asset for investors in the face of the upcoming U.S. presidential election. -
Oil Prices Climb as U.S. SPR Purchase Plan Boosts Market Amid Demand Concerns
Oil prices rose more than 1% on Tuesday, rebounding after the sharpest drop in two years the previous day, as a U.S. government plan to purchase crude oil for its Strategic Petroleum Reserve (SPR) offered a measure of market support. Brent crude futures increased by 94 cents, or 1.32%, reaching $72.36 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 98 cents, or 1.45%, to $68.36 a barrel by midday trading. 
Oil prices rose more than 1% on Tuesday, rebounding after the sharpest drop in two years the previous day, as a U.S. government plan to purchase crude oil for its Strategic Petroleum Reserve (SPR) offered a measure of market support. Brent crude futures increased by 94 cents, or 1.32%, reaching $72.36 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 98 cents, or 1.45%, to $68.36 a barrel by midday trading. -
Yen Hits Three-Month Low Amid Political Uncertainty Following Japan's Election
The Japanese yen sank to a three-month low against the U.S. dollar on Monday, pressured by Japan's ruling coalition's significant election setback and the growing uncertainty surrounding the future of the Bank of Japan's (BoJ) monetary policy. 
The Japanese yen sank to a three-month low against the U.S. dollar on Monday, pressured by Japan's ruling coalition's significant election setback and the growing uncertainty surrounding the future of the Bank of Japan's (BoJ) monetary policy. -
Oil Prices Plummet as Israel Avoids Major Iranian Targets in Retaliation
Oil prices tumbled over 6% on Monday following Israel's restrained military response to Iran, marking a significant retreat in the geopolitical risk premium that had built up in crude markets. Both Brent crude and West Texas Intermediate (WTI) futures saw sharp declines, with Brent closing 6.3% lower at $71.25 a barrel and WTI falling 6.7% to $67. 
Oil prices tumbled over 6% on Monday following Israel's restrained military response to Iran, marking a significant retreat in the geopolitical risk premium that had built up in crude markets. Both Brent crude and West Texas Intermediate (WTI) futures saw sharp declines, with Brent closing 6.3% lower at $71.25 a barrel and WTI falling 6.7% to $67. -
Gold Retreats from All-Time High as Investors Take Profits Amid Middle East Tensions
Gold prices edged lower on Friday as some investors took profits after a recent rally that pushed the precious metal to record highs earlier in the week. Spot gold slipped by 0.4% to $2,724.50 per ounce, down from its peak of $2,758.37 reached on Wednesday. Despite the pullback, geopolitical tensions in the Middle East, particularly the ongoing conflict between Israel and Hezbollah, helped limit the decline as investors continue to seek safe-haven assets. 
Gold prices edged lower on Friday as some investors took profits after a recent rally that pushed the precious metal to record highs earlier in the week. Spot gold slipped by 0.4% to $2,724.50 per ounce, down from its peak of $2,758.37 reached on Wednesday. Despite the pullback, geopolitical tensions in the Middle East, particularly the ongoing conflict between Israel and Hezbollah, helped limit the decline as investors continue to seek safe-haven assets. -
Russia’s Central Bank Hikes Interest Rate to 21% Amid Surging Inflation and Military Spending
Russia's central bank raised its key interest rate to 21% on Friday, a drastic move aimed at controlling surging inflation driven by increased government spending, particularly on the military. This 200 basis point hike takes the rate to its highest level since February 2003, surpassing analysts' expectations of a 100-point rise. The bank's decision comes amid ongoing inflationary pressures, fueled by both domestic demand and external economic challenges linked to the war in Ukraine. 
Russia's central bank raised its key interest rate to 21% on Friday, a drastic move aimed at controlling surging inflation driven by increased government spending, particularly on the military. This 200 basis point hike takes the rate to its highest level since February 2003, surpassing analysts' expectations of a 100-point rise. The bank's decision comes amid ongoing inflationary pressures, fueled by both domestic demand and external economic challenges linked to the war in Ukraine. -
Oil Prices Edge Higher Amid Middle East Tensions and Ceasefire Hopes
Oil prices are on track for a modest weekly gain of around 2% as geopolitical tensions in the Middle East continue to dominate market sentiment. Investors are closely watching developments in the region, with a focus on potential ceasefire talks between Israel and Iran that could ease some of the volatility in global energy markets. By Friday morning, Brent crude futures had risen by 33 cents, or 0.44%, to $74.71 per barrel, while U.S. West Texas Intermediate (WTI) crude was up 31 cents, or 0.44%, at $70.50. Oil prices are on track for a modest weekly gain of around 2% as geopolitical tensions in the Middle East continue to dominate market sentiment. Investors are closely watching developments in the region, with a focus on potential ceasefire talks between Israel and Iran that could ease some of the volatility in global energy markets. By Friday morning, Brent crude futures had risen by 33 cents, or 0.44%, to $74.71 per barrel, while U.S. West Texas Intermediate (WTI) crude was up 31 cents, or 0.44%, at $70.50. -
Oil Prices Remain Steady Amid Middle East Tensions and Uncertainty Around U.S. Election
Oil prices remained relatively stable on Thursday, as market participants weighed the potential impacts of escalating tensions in the Middle East, as well as reports of North Korean troops heading to Russia, just days ahead of the pivotal U.S. presidential election. Despite broader volatility in recent weeks, Brent crude futures edged up 29 cents, or 0.4%, to settle at $75.25 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 33 cents, or 0.5%, to $71.10 a barrel. 
Oil prices remained relatively stable on Thursday, as market participants weighed the potential impacts of escalating tensions in the Middle East, as well as reports of North Korean troops heading to Russia, just days ahead of the pivotal U.S. presidential election. Despite broader volatility in recent weeks, Brent crude futures edged up 29 cents, or 0.4%, to settle at $75.25 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 33 cents, or 0.5%, to $71.10 a barrel. -
Gold Hits Record High Amid U.S. Election Uncertainty and Geopolitical Tensions
Gold prices reached record highs on Wednesday, driven by geopolitical tensions and uncertainty surrounding the upcoming U.S. presidential election, even as U.S. bond yields climbed and the dollar strengthened. 
Gold prices reached record highs on Wednesday, driven by geopolitical tensions and uncertainty surrounding the upcoming U.S. presidential election, even as U.S. bond yields climbed and the dollar strengthened.
