Section
The latest commodities coverage from the TrustFinance editorial desk.
Estimates for second-quarter S&P 500 profit growth have jumped to 39%, according to LSEG data, though a sharp sell-off in chipmaker SK Hynix has raised concerns ahead of key U.S. tech earnings reports.
A powerful 7.1-magnitude earthquake in southern Japan was followed by a deadly explosion at an Aeon shopping mall, leaving at least three dead and four missing. Investigators are focusing on a potential gas leak as the cause of the blast.
China's market regulator is scheduled to meet with solar industry representatives to tackle a severe price war driven by overcapacity, according to local media reports. The meeting will focus on pricing compliance and cost-accounting standards.
Gold prices were little changed as investors awaited the Federal Reserve's policy decision, while a sharp rebound in oil prices following renewed Middle East tensions rekindled concerns over inflation.
Crude oil benchmarks rebounded sharply on Wednesday, gaining over 4% after an Iranian missile attack on U.S. forces reignited geopolitical supply risks and an industry report showed a significant drop in U.S. inventories.
Crude oil benchmarks surged after industry data pointed to a significant drop in U.S. inventories, offsetting recent losses tied to a pause in the U.S.-Iran conflict.
The American Petroleum Institute has come out against a Gulf-backed proposal for Iran to collect voluntary fees from vessels passing through the Strait of Hormuz, citing security concerns.
The U.S. Senate voted overwhelmingly to move forward with legislation aimed at sanctioning Russian officials and imposing tariffs on countries reliant on Russian energy. The procedural vote saw strong bipartisan backing as lawmakers seek to increase pressure on Moscow.
The U.S. Senate is scheduled to vote on a sweeping sanctions bill targeting Russian energy revenue and Iran, timed to honor the late Senator Lindsey Graham. However, the legislation faces potential hurdles over provisions granting the president broad tariff authority.
