A recent report from Citi Research warns that the Federal Reserve's hawkish monetary policy could suppress the U.S. housing market and make the broader economy dangerously dependent on AI investment.
Brazil's state-run oil company, Petrobras, will join a new government program providing a 1.00 real per liter subsidy on diesel, a move aimed at stabilizing fuel prices ahead of the upcoming presidential election.
Crude oil futures fell on Friday after reports that China, at Saudi Arabia's request, pressured Iran to rein in Houthi attacks, easing some geopolitical supply fears. However, ongoing pipeline disruptions and refining constraints continue to support the market.
Crude oil benchmarks posted their first weekly loss in three weeks as concerns over a Saudi pipeline outage abated and signs of potential U.S.-Iran diplomacy emerged.
Wheat futures closed lower on Thursday, influenced by reports of a potential diplomatic solution for Black Sea grain exports and U.S. export sales data that met market expectations.
The U.S. Department of Agriculture has confirmed a new case of the flesh-eating screwworm parasite in a New Mexico horse, creating uncertainty around the planned reopening of a key livestock trade port with Mexico.
The investment bank said it can no longer model a clear outlook for oil markets as the ongoing conflict surpasses previous economic assumptions and drives prices above $100 per barrel.
JPMorgan analysts said they no longer have a clear baseline view for oil markets, citing escalating geopolitical risks and significant supply disruptions from the ongoing US-Iran conflict. The bank noted that severe demand destruction, rather than inventory draws, has so far prevented a more extreme price spike.
The U.S. State Department confirmed it will allow a delegation of top Iranian officials, including President Masoud Pezeshkian, to attend the UN General Assembly in New York despite an ongoing war between the nations.
