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Tag: Geopolitical

Oil retreats from $70 ceiling on fading geopolitical risk premium

Oil retreats from $70 ceiling on fading geopolitical risk premium

Business
Jan. 12 (UPI) -- Crude oil prices dipped into negative territory on Friday on signs Washington would indeed extend waivers that let Iranian oil flow on the global market.The price for Brent crude oil, the global benchmark, hit $ 70 per barrel for the first time since December 2014 partway through the trading day Thursday, but gave up nearly all of the gains by the close. The bounce-back from the flirtation with the psychological ceiling at one point in overnight trading left the U.S. benchmark, West Texas Intermediate, down more than 1 percent.Traders and market watchers for much of the week said they expected U.S. President Donald Trump to go against the principles of the Joint Comprehensive Plan of Action and not extend waivers to Iran. The president must regularly weigh sanctions and no...
Midday Update: Stocks Retreat From Record Highs as Wall Street Assess Geopolitical Risks, Tax Reform Debate

Midday Update: Stocks Retreat From Record Highs as Wall Street Assess Geopolitical Risks, Tax Reform Debate

Finance
Shutterstock photoWall Street's major indices retreated from record highs into negative turf on Tuesday as tax reform debate in Congress along with fresh geopolitical risks in the Middle East rekindles risk aversion.Financial stocks are leading decliners with Dow component stocks Goldman Sachs ( GS ) and JP Morgan ( JPM ) causing the bulk of the blue chips' losses. The energy sector is also underwater after West Texas intermediate ran into profit-taking before challenging the $ 60 per barrel mark.US stocks were flat to slightly lower at the open in sympathy with European bourses, which reversed early gains following a significant miss on German production data along with worries about war erupting between Saudi Arabia and Iran, as well as the fallout from the "Saudi purge" this weekend.S...
U.S Futures Lower For Third Day as Geopolitical Risks, Profit-Taking Lingers

U.S Futures Lower For Third Day as Geopolitical Risks, Profit-Taking Lingers

Finance
Shutterstock photoU.S. stock futures were trading lower for a third straight day as geopolitical tensions between the U.S. and North Korea dampened investor's appetite for risk and overshadowed upbeat corporate earnings from Macy's ( M ), 21st Century Fox ( FOXA ) and Kohl's ( KSS ).Unnerved by Pyongyang's latest threat to fire ballistic missiles at a U.S. territory by the middle of August, global investors sold equity assets and rotated into safe-havens like the U.S. 10-year Treasury note, gold, the Japanese yen and Swiss franc. The rotation is being amplified by profit-taking in most sectors with the notable exception of defense stocks with shares of Lockheed Martin ( LMT ), Ratheon ( RTN ) and Northrup Grumman (NOC) set to open at record highs.A contraction in producer prices -- an...