Latest news with #DanielHynes
Reuters
15-07-2025
- Business
- Reuters
Oil edges down as market contemplates potential sanctions, tariffs
July 15 (Reuters) - Oil prices edged down on Tuesday as the market digested U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump's trade tariffs. Brent crude futures fell 5 cents to $69.16 a barrel by 0000 GMT, while U.S. West Texas Intermediate crude futures fell to $66.89, down 9 cents. Both contracts settled more than $1 lower in the previous session. Trump announced new weapons for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in 50 days. Oil prices had climbed at the news of potential sanctions, but later gave up these gains as the 50-day deadline raised hopes that sanctions could be avoided, and traders dwelled on whether the U.S. would actually impose steep tariffs on countries continuing to trade with Russia. "The pause eased concerns that direct sanctions on Russia could disrupt crude oil flows. Sentiment was also weighed down by rising trade tensions," ANZ senior commodity strategist Daniel Hynes wrote in a note to clients. Trump said on Saturday he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rates. Tariffs risk slowing down economic growth, which could sap global fuel demand and drag oil prices lower. Elsewhere, oil demand is set to stay "very strong" through the third quarter, keeping the market snugly balanced in the near term, the Organization of Petroleum Exporting Countries' secretary general said, according to a Russian media report. Goldman Sachs on Monday raised its oil price outlook for the second half of 2025, pointing to potential supply disruptions, shrinking oil inventories in Organisation for Economic Co-operation and Development countries, and production constraints in Russia.
Yahoo
15-07-2025
- Business
- Yahoo
Oil edges down as market contemplates potential sanctions, tariffs
By Anjana Anil (Reuters) -Oil prices edged down on Tuesday as the market digested U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump's trade tariffs. Brent crude futures fell 5 cents to $69.16 a barrel by 0000 GMT, while U.S. West Texas Intermediate crude futures fell to $66.89, down 9 cents. Both contracts settled more than $1 lower in the previous session. Trump announced new weapons for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in 50 days. Oil prices had climbed at the news of potential sanctions, but later gave up these gains as the 50-day deadline raised hopes that sanctions could be avoided, and traders dwelled on whether the U.S. would actually impose steep tariffs on countries continuing to trade with Russia. "The pause eased concerns that direct sanctions on Russia could disrupt crude oil flows. Sentiment was also weighed down by rising trade tensions," ANZ senior commodity strategist Daniel Hynes wrote in a note to clients. Trump said on Saturday he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rates. Tariffs risk slowing down economic growth, which could sap global fuel demand and drag oil prices lower. Elsewhere, oil demand is set to stay "very strong" through the third quarter, keeping the market snugly balanced in the near term, the Organization of Petroleum Exporting Countries' secretary general said, according to a Russian media report. Goldman Sachs on Monday raised its oil price outlook for the second half of 2025, pointing to potential supply disruptions, shrinking oil inventories in Organisation for Economic Co-operation and Development countries, and production constraints in Russia. Sign in to access your portfolio
CNA
15-07-2025
- Business
- CNA
Oil edges down as market contemplates potential sanctions, tariffs
Oil prices edged down on Tuesday as the market digested U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump's trade tariffs. Brent crude futures fell 5 cents to $69.16 a barrel by 0000 GMT, while U.S. West Texas Intermediate crude futures fell to $66.89, down 9 cents. Both contracts settled more than $1 lower in the previous session. Trump announced new weapons for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in 50 days. Oil prices had climbed at the news of potential sanctions, but later gave up these gains as the 50-day deadline raised hopes that sanctions could be avoided, and traders dwelled on whether the U.S. would actually impose steep tariffs on countries continuing to trade with Russia. "The pause eased concerns that direct sanctions on Russia could disrupt crude oil flows. Sentiment was also weighed down by rising trade tensions," ANZ senior commodity strategist Daniel Hynes wrote in a note to clients. Trump said on Saturday he would impose a 30 per cent tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rates. Tariffs risk slowing down economic growth, which could sap global fuel demand and drag oil prices lower. Elsewhere, oil demand is set to stay "very strong" through the third quarter, keeping the market snugly balanced in the near term, the Organization of Petroleum Exporting Countries' secretary general said, according to a Russian media report. Goldman Sachs on Monday raised its oil price outlook for the second half of 2025, pointing to potential supply disruptions, shrinking oil inventories in Organisation for Economic Co-operation and Development countries, and production constraints in Russia.
Yahoo
15-07-2025
- Business
- Yahoo
Oil edges down as market contemplates potential sanctions, tariffs
By Anjana Anil (Reuters) -Oil prices edged down on Tuesday as the market digested U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump's trade tariffs. Brent crude futures fell 5 cents to $69.16 a barrel by 0000 GMT, while U.S. West Texas Intermediate crude futures fell to $66.89, down 9 cents. Both contracts settled more than $1 lower in the previous session. Trump announced new weapons for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in 50 days. Oil prices had climbed at the news of potential sanctions, but later gave up these gains as the 50-day deadline raised hopes that sanctions could be avoided, and traders dwelled on whether the U.S. would actually impose steep tariffs on countries continuing to trade with Russia. "The pause eased concerns that direct sanctions on Russia could disrupt crude oil flows. Sentiment was also weighed down by rising trade tensions," ANZ senior commodity strategist Daniel Hynes wrote in a note to clients. Trump said on Saturday he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rates. Tariffs risk slowing down economic growth, which could sap global fuel demand and drag oil prices lower. Elsewhere, oil demand is set to stay "very strong" through the third quarter, keeping the market snugly balanced in the near term, the Organization of Petroleum Exporting Countries' secretary general said, according to a Russian media report. Goldman Sachs on Monday raised its oil price outlook for the second half of 2025, pointing to potential supply disruptions, shrinking oil inventories in Organisation for Economic Co-operation and Development countries, and production constraints in Russia.
The Advertiser
03-07-2025
- Business
- The Advertiser
Australian shares dip as banks slip, while miners gain
The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday.
