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Dollar Retreats on Iran Optimism
The dollar index (DXY00 ) fell from a 6-week high on Wednesday and finished down by -0.24%. The dollar gave up an early advance on Wednesday and moved lower after comments from President Trump that the US was in the “final stages” with Iran, which knocked crude oil prices down...
Nat-Gas Prices Retreat on Expectations for US Storage Levels to Build
June Nymex natural gas (NGM26 ) on Wednesday closed down -0.110 (-3.53%). Nat-gas prices on Wednesday fell from an 8-week nearest-future high and settled sharply lower. Abundant US nat-gas supplies, along with expectations that storage levels will continue to build, pressured prices on Wednesday. The consensus is that Thursday's weekly...
Stellantis - Dongfeng Joint Venture will see Chinese maker's EVs built in France
French-Italian auto group Stellantis and China's Dongfeng have announced a plan to launch a joint venture based in Europe, with Stellantis having a controlling 51% stake. The deal would see Dongfeng's new electric models assembled in Stellantis' plant in western France to comply with the EU's new "Made in Europe" rule that would require 70% of EV content made locally. Also in the segment, one man in the US has turned a broken pink Barbie car into a solution to combat soaring fuel prices.
Crude Oil Prices Plummet on Speculation Strait of Hormuz Could Soon Reopen
July WTI crude oil (CLN26 ) on Wednesday closed down -5.89 (-5.66%), and July RBOB gasoline (RBN26 ) closed down -0.1911 (-5.35%). Crude oil and gasoline prices plunged on Wednesday, with gasoline falling to a 1.5-week low. Crude price plummeted on Wednesday after President Trump said the US is in...
Sugar Prices Erase Early Gains as Crude Oil Prices Plunge
July NY world sugar #11 (SBN26 ) on Wednesday closed down -0.28 (-1.87%), and Aug London ICE white sugar #5 (SWQ26 ) closed unchanged. Sugar prices gave up an early advance today and settled mostly lower. Sugar prices came under pressure after crude oil prices (CLN26 ) plunged by more...