China
Both Brent and WTI were up 1 percent so far this week after a surge earlier in the week
Bullion has lost 3.3 percent so far this week and is set for its worst weekly performance since November 2024
The International Energy Agency (IEA) expects global oil stocks to rise by over 700,000 b/d across the year
This abrupt shift has created what the IMF terms “epistemic uncertainty” – a fundamental unpredictability about the rules governing global trade
U.S. crude stockpiles rose by 3.5 million barrels to 441.8 million barrels in the week ended May 9
Market focus is now on the U.S. producer price index data, due at 12:30 GMT, following the softer-than-expected consumer data
Expectations of a significant increase in U.S. oil inventories tempered optimism in the market for now
Positive developments in U.S. trade policy are diminishing the appeal of gold in the short-term
The revision follows a landmark agreement between the U.S. and China will lower tariffs for 90 days
U.S. and China cut tariffs temporarily, boosting markets but leaving uncertainties unresolved.
U.S. and China announced tariff reductions, boosting global shares and altering market dynamics
