The Latest Breaking News on Markets

Oil and economic experts confirmed that the voluntary oil production cuts taken by oil-exporting countries within OPEC+, starting May and continuing until the end of 2023, aim to achieve market balance. Mubarak Alhajeri, a faculty member at Kuwait's College of Technological Studies, explained that the cut had shocked global markets…

Shares are mostly higher in Asia as investors watch for the latest moves by central banks

U.S. Treasury Secretary Janet Yellen criticized the decision by OPEC+ oil producers over the weekend to cut output, saying it was “unconstructive” and would add to the uncertainty overhanging global growth.

The Reserve Bank has left interest rates on hold at 3.6 per cent, but says some further tightening of monetary policy may be needed, while the Australian share market hit a fresh three-week high.

The Organization of the Petroleum Exporting Countries and its allies over the weekend announced a surprise cut to crude production.

In total, cutbacks in production will be over one million barrels a day. Because of these announced cutbacks, the global benchmark of oil prices, Brent crude, had a 5.31% increase in cost, rising to $84.13 a barrel. The U.S. benchmark, WTI, surged to $79.83 a barrel, a 5.48% increase.

As U.S. steel sentiment hits a new high this year due to increased finished prices, the steel sector is poised to stay afloat amid macro uncertainties. Is it the right time to buy, sell, or hold Friedman Industries (FRD), Aqua Metals (AQMS), and Companhia Siderúrgica Nacional (SID)? Let’s discuss….

All you need to know about the Opec+ decision to cut production and the potential knock-on effects

In support of the stability of the global oil markets, and the enhancement of the balance between supply and demand, the member of the Organization of Petroleum Exporting Countries (OPEC) and the producing countries within the OPEC+ have decided to implement a voluntary reduction of crude oil production. Experts described…

Shell and BP saw their share prices rise following a jump in the price of oil.

Oil surged at the week’s open after OPEC+ unexpectedly announced crude output cuts that threaten to tighten the market, delivering a fresh inflationary jolt to the world economy and irking the White House.