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US gasoline prices slipped below the $3 per gallon threshold this week, touching their lowest level in nine weeks as markets responded to signs of progress in US-Iran negotiations aimed at ending the conflict.
President Donald Trump on Friday pushed back against reports in Iranian state media describing the terms of a potential war-ending deal, saying the published details bear no relation to what was agreed in writing between the two sides.
Oil markets extended their decline on Friday as crude slipped below the $85 mark, marking the steepest weekly drop in two months. The sell-off reflected mounting investor confidence that the prolonged standoff between the United States and Iran could be approaching a resolution.
Global usage of artificial intelligence platforms has reached record highs even as public sentiment toward the technology has cooled, with OpenAI's ChatGPT becoming the fastest app in history to reach one billion monthly active users, according to estimates from market intelligence firm Sensor Tower.
US consumer confidence edged higher in early June, with the closely watched University of Michigan sentiment gauge climbing to 48.9 from May's all-time low of 44.8. The reading exceeded analyst forecasts of 46, marking a tentative break from months of deteriorating household morale.
DRW, a prominent trading firm, has taken a $176 million hit on power market positions after a period of severe volatility in electricity and gas prices battered its trading book during the winter months.
CME Group, the world's leading derivatives marketplace, said it will expand its benchmark suite of equity index futures with the introduction of four new E-mini contracts, pending regulatory review, broadening access to all-cap risk management tools for US equities.
Luxury stocks rallied sharply on Friday after Iranian state media reported that a proposed deal between the United States and Iran would include a reopening of the Strait of Hormuz and the lifting of US oil sanctions, offering relief to a sector hit hard …
Liquidity in global oil markets has collapsed at a record pace this year, as investors increasingly avoid committing capital to an asset class that has become highly sensitive to shifting political signals around the Iran conflict.
Gold prices remained under pressure on Friday, trading close to $4,200 per ounce and heading for a second consecutive weekly loss. The metal's decline came even as crude oil tumbled on growing hopes for a US-Iran peace agreement, a development that would typically be …
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