Oil Prices Climb As Hormuz Concerns Persist

RTTNews | 119 days ago
Oil Prices Climb As Hormuz Concerns Persist

(RTTNews) - Oil prices rallied on Friday as Hormuz concerns persisted and U.S. President Donald Trump claimed the United States will prevail in its war with Iran, "peacefully or otherwise".

Brent crude prices for July delivery jumped more than 3 percent to $109.19 a barrel as attacks on one ship and the seizure of another around the Strait of Hormuz stoked concerns about energy supplies.

WTI crude futures soared 3.5 percent to $104.70 and were on track for a weekly gain of nearly 9 percent.

Hormuz concerns persist despite Iran's Revolutionary Guards claiming around 30 vessels had crossed the strait since Wednesday evening.

After wrapping up his three-day visit to China, U.S. President Trump said he will not be much more patient with Tehran.

In a lengthy Truth Social post, Trump suggested he may resume the war against Iran after he returns from his trip to China.

Elsewhere, the Trump-Xi summit has so far produced warm words but yielded little progress on the war in Iran. Trump warned Iran to make a deal or face "annihilation".

In a Telegram post, Iran's Foreign Minister Abbas Araghchi has accused the United Arab Emirates of playing an active role in the U.S.-Israeli war against his country.

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

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 | 2h 56min ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

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 | 3h 4min ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

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 | 3h 45min ago
IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery

IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery

Canadian stocks may open with positive bias Friday as oil prices decline following the International Energy Agency's downward revision of global oil demand. Investors seek bargains after six consecutive days of losses. U.S. consumer price data could impact sentiment.
RTTNews | 4h 55min ago
Canadian Dollar Falls As Oil Prices Edge Lower

Canadian Dollar Falls As Oil Prices Edge Lower

The Canadian dollar weakened against other major currencies in the European session on Friday, as the crude oil prices traded lower amid escalating U.S.-Iran tensions and concerns over prolonged disruption to global energy supplies.
RTTNews | 5h 10min ago
Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops

Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops

Supermarket chain Kroger Co. reported Friday higher profit and sales in its second quarter, while Identical Sales growth was slower than the prior year. Further, the firm maintained adjusted earnings outlook for fiscal 2026, but trimmed growth view for identical sales without fuel. In the pre-market activity on the NYSE, the shares were losing around 2.62 percent.
RTTNews | 5h 42min ago
UK Stocks Rise On GDP Growth, Oil Price Decline

UK Stocks Rise On GDP Growth, Oil Price Decline

UK stocks advanced Friday as July GDP growth of 0.4% beat expectations and oil prices tumbled following downward IEA demand revisions. The FTSE 100 reached 10,674.52, up 0.61% despite ongoing US-Iran concerns.
RTTNews | 5h 55min ago