Oil On Track For Biggest Weekly Loss Since June Ahead Of Peace Talks

RTTNews | 154 days ago

(RTTNews) - Oil prices climbed on Friday but were on track for their steepest weekly loss since June 2025 ahead of U.S. oil and gas rig count data from Baker Hughes later in the day and U.S.-Iran diplomatic talks scheduled for the weekend.

Brent crude prices rose nearly 2 percent toward $98 a barrel after reports suggested that missile and drone strikes have cut Saudi Arabia's oil production capacity by around 00,000 barrels per day and reduced flows through the East-West pipeline by about 700,000 bpd.

WTI crude futures for May delivery were up more than 2 percent at $99.85. Both Brent and WTI crude prices were down about 11 percent so far this week after the United States and Iran agreed to a temporary truce, brokered by Pakistan.

However, tensions lingered around Israeli strikes across Lebanon and the blockade of the Strait of Hormuz.

According to ship-tracking data, just seven ships passed through the strait in the past 24 hours against a normal daily flow of around 140.

Israel and Hezbollah exchanged strikes overnight as U.S. President Donald Trump criticized Iran's handling of the Strait of Hormuz and warned Tehran against charging fees on oil tankers.

Trump said Washington, as the 'winner' of the war, has a 'concept' for charging a toll in the strategic waterway.

Israeli Prime Minister Benjamin Netanyahu announced that his country was ready for direct negotiations with Lebanon, while insisting that Israel's attacks across the country targeting Hezbollah would continue.

The IDF warned Hezbollah may expand rocket attacks beyond northern Israel, raising fears of a wider escalation.

Addressing the nation, Iran's newly appointed Supreme Leader, Mojtaba Khamenei, declared victory in the West Asia conflict and vowed that Iran will not let the U.S.-Israel go unpunished for their alleged acts of aggression.

Elsewhere, Ukraine and Russia have agreed to a rare 32-hour ceasefire for Orthodox Easter, with both sides announcing a temporary halt in fighting.

U.S. Dollar Ticks Higher Amid Inflation Data Release, Expectations Of Reopening Of Strait Of Hormuz

The U.S. Dollar value inched higher as investors weighed today's inflation data that pushed the odds for a rate hike in the U.S. higher against reports of an upcoming meeting between the Gulf Cooperation Council nations and Iran to hasten the reopening of the Strait of Hormuz.

RTTNews | 6h 52min ago

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.

RTTNews | 9h 8min ago

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.

RTTNews | 9h 42min ago

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.

RTTNews | 10h 5min ago

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.

RTTNews | 13h 26min ago

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair

RTTNews | 13h 35min ago

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.

RTTNews | 14h 15min ago

U.S. Consumer Prices Increase In Line With Estimates In August

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August.

RTTNews | 15h 17min ago

EURUSD	1.1598	GBPUSD	1.3518
USDJPY	153.62	USDCAD	1.387