Jerry Lin
The Latest
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Oil Prices Retreat from Recent Surge as Libya Production Concerns Ease
Oil prices experienced a slight pullback on Tuesday, retreating from a recent surge triggered by a halt in Libyan production and escalating Middle East tensions. U.S. crude oil futures slipped below $77 per barrel, with West Texas Intermediate (WTI) trading at $76.99, marking a decline of 43 cents or 0.56%. This drop follows a dramatic increase in prices driven by supply disruptions from Libya and concerns over regional conflict. 
Oil prices experienced a slight pullback on Tuesday, retreating from a recent surge triggered by a halt in Libyan production and escalating Middle East tensions. U.S. crude oil futures slipped below $77 per barrel, with West Texas Intermediate (WTI) trading at $76.99, marking a decline of 43 cents or 0.56%. This drop follows a dramatic increase in prices driven by supply disruptions from Libya and concerns over regional conflict. -
Exxon Mobil Forecasts Steady Oil Demand Through 2050, Challenging Net-Zero Goals
Exxon Mobil Corp.'s latest forecast underscores a formidable challenge to global climate ambitions, projecting that oil and natural gas will continue to dominate the world's energy mix for decades. Despite the rapid expansion of renewable energy and the push towards net-zero carbon emissions, Exxon's report indicates that fossil fuels will still account for over 50% of the global energy market by 2050. 
Exxon Mobil Corp.'s latest forecast underscores a formidable challenge to global climate ambitions, projecting that oil and natural gas will continue to dominate the world's energy mix for decades. Despite the rapid expansion of renewable energy and the push towards net-zero carbon emissions, Exxon's report indicates that fossil fuels will still account for over 50% of the global energy market by 2050. -
Gold Prices Near Record Highs as Fed Rate Cuts Boost Demand
Gold prices continued their upward trajectory on Monday, hovering near record highs as market sentiment was bolstered by dovish signals from the U.S. Federal Reserve and a weakening dollar. Spot gold rose 0.6%, reaching $2,526.15 per ounce, just shy of last week's record high of $2,531.60. U.S. gold futures also saw a 0.6% increase, climbing to $2,561.90 per ounce. 
Gold prices continued their upward trajectory on Monday, hovering near record highs as market sentiment was bolstered by dovish signals from the U.S. Federal Reserve and a weakening dollar. Spot gold rose 0.6%, reaching $2,526.15 per ounce, just shy of last week's record high of $2,531.60. U.S. gold futures also saw a 0.6% increase, climbing to $2,561.90 per ounce. -
Oil Prices Surge as Global Tensions Escalate, Libyan Oil Production Halts Amid Mideast Conflict
Oil prices surged on Monday as a combination of escalating geopolitical tensions and a sudden halt in Libyan oil production sent shockwaves through global markets. The price of Brent crude soared by 3%, surpassing $81 per barrel, while U.S. crude futures climbed to $77.30 per barrel, marking a significant spike driven by fears of supply disruptions in key oil-producing regions. 
Oil prices surged on Monday as a combination of escalating geopolitical tensions and a sudden halt in Libyan oil production sent shockwaves through global markets. The price of Brent crude soared by 3%, surpassing $81 per barrel, while U.S. crude futures climbed to $77.30 per barrel, marking a significant spike driven by fears of supply disruptions in key oil-producing regions. -
Bitcoin’s Surge Beyond $64,000 Signals Renewed Optimism Among Investors
Bitcoin has surged past the $64,000 mark, reigniting interest in the cryptocurrency market and signaling a potential upward trend. The leading cryptocurrency's impressive rally comes on the heels of comments from Federal Reserve Chairman Jerome Powell, which have sparked speculation of an imminent rate cut. This development has catalyzed a broader market rally, with Bitcoin leading the charge. 
Bitcoin has surged past the $64,000 mark, reigniting interest in the cryptocurrency market and signaling a potential upward trend. The leading cryptocurrency's impressive rally comes on the heels of comments from Federal Reserve Chairman Jerome Powell, which have sparked speculation of an imminent rate cut. This development has catalyzed a broader market rally, with Bitcoin leading the charge. -
Gold Prices Surge Over 1% as Powell Hints at Imminent Rate Cuts
Gold prices surged over 1% on Friday, buoyed by comments from Federal Reserve Chair Jerome Powell that signaled the central bank is likely to cut interest rates in September. The precious metal, which often benefits from lower interest rates, saw its spot price rise to $2,512.63 per ounce, edging closer to the record high of $2,531.60 reached earlier in the week. U.S. gold futures also climbed, settling at $2,546.30. 
Gold prices surged over 1% on Friday, buoyed by comments from Federal Reserve Chair Jerome Powell that signaled the central bank is likely to cut interest rates in September. The precious metal, which often benefits from lower interest rates, saw its spot price rise to $2,512.63 per ounce, edging closer to the record high of $2,531.60 reached earlier in the week. U.S. gold futures also climbed, settling at $2,546.30. -
Fed Signals Rate Cuts Ahead as Inflation Cools: Powell Says ‘The Time Has Come for Policy to Adjust’
Federal Reserve Chair Jerome Powell hinted at imminent interest rate cuts during his keynote address at the Fed's annual retreat in Jackson Hole, Wyoming. While Powell refrained from specifying the exact timing or magnitude of the cuts, his message was clear: the central bank is ready to shift its focus after a prolonged period of aggressive rate hikes aimed at taming inflation. 
Federal Reserve Chair Jerome Powell hinted at imminent interest rate cuts during his keynote address at the Fed's annual retreat in Jackson Hole, Wyoming. While Powell refrained from specifying the exact timing or magnitude of the cuts, his message was clear: the central bank is ready to shift its focus after a prolonged period of aggressive rate hikes aimed at taming inflation. -
Jobless Claims Edge Up, But Labor Market Remains Robust Amid Fed's Rate Hike Concerns
The U.S. job market continues to show signs of resilience, even as the number of Americans filing for unemployment benefits rose modestly last week. According to the latest data from the Department of Labor, jobless claims increased by 4,000 to a seasonally adjusted 232,000 for the week ending August 17. Despite this uptick, the level of claims remains historically low, reflecting a labor market that is cooling gradually but still healthy. 
The U.S. job market continues to show signs of resilience, even as the number of Americans filing for unemployment benefits rose modestly last week. According to the latest data from the Department of Labor, jobless claims increased by 4,000 to a seasonally adjusted 232,000 for the week ending August 17. Despite this uptick, the level of claims remains historically low, reflecting a labor market that is cooling gradually but still healthy. -
Oil Prices Steady After Four-Day Slide Amid Concerns Over Global Demand Outlook
Oil prices stabilized on Thursday following four consecutive days of decline as concerns over global demand weighed heavily on the market. Despite these worries, a significant drawdown in U.S. crude oil inventories provided a much-needed floor for prices. 
Oil prices stabilized on Thursday following four consecutive days of decline as concerns over global demand weighed heavily on the market. Despite these worries, a significant drawdown in U.S. crude oil inventories provided a much-needed floor for prices. -
Fed Signals September Rate Cut Likely as Economic Concerns Mount
Federal Reserve officials are increasingly inclined toward a much-anticipated interest rate cut in September, according to minutes released from their July meeting. The meeting, which took place on July 30-31, revealed that while the central bank held rates steady, there was considerable support for a rate reduction at their next policy gathering. 
Federal Reserve officials are increasingly inclined toward a much-anticipated interest rate cut in September, according to minutes released from their July meeting. The meeting, which took place on July 30-31, revealed that while the central bank held rates steady, there was considerable support for a rate reduction at their next policy gathering.
