Oil prices were up more than 1% on Friday after renewed fighting in the Strait of Hormuz threatened a shaky ceasefire. Iran accused the US of violating the two countries' fragile ceasefire.
A federal court ruled against the new global tariffs that Trump imposed after a stinging loss at the Supreme Court. The Trump administration is conducting two investigations that could end in more tariffs.
US crude oil stockpiles were expected to have fallen last week, while distillate and gasoline inventories also likely fell. That came as US crude exports surged to record level.
Canada's oil sands sector could deliver significant long-term production growth, but industry leaders say expansion will depend heavily on new pipeline infrastructure to move crude abroad.
Growth in the global trade of goods will fall significantly by the end of next year if oil prices remain highly volatile, according to a study. That means major exporters could be put under pressures particularly.
The IMF director warns of an adverse scenario, which envisaged global growth of 2.5% and inflation above 5%. Iran is expected to take centre stage in the forthcoming summit between the US and China.
Brent crude saw a bearish reversal following the double top, so the ongoing rally could turn out to be short-lived. We see the price drop below $98 next week.
Asset recap
As of market close on 7 May, among EBC major products, Paycom Software shares led gains after posting stronger-than-expected Q1 growth. The company has approved a new share repurchase programme.
Shares of Zoetis crashed after the animal-health firm trimmed its full-year guidance, blaming fewer vet visits and weaker demand for premium treatments among US pet owners.
The FTSE 100 dropped as investors weighed Mideast peace prospects. UK investors favored equity funds in April after a record ten-month spell of selling, adding a net 1.1 billion pounds to equity funds.
EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Global Financial Collaboration or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.