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Gold dropped as US President Donald Trump said the ceasefire with Iran has ended, stoking concerns that a renewal of fighting could again drive inflation and push up interest rates.
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Despite spending increase in June, Barclays says most people still pessimistic about economy Relentless sunshine and the World Cup coaxed consumers to spend more on beer and online shopping last month, with purse strings expected to remain loose as England fans gear up for Wednesday’s semi-final. Most people remain pessimistic about the UK economy, according to data from Barclays Bank based on debit and credit card transactions. Continue reading...
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The potential expense of a 20 percent charge to move oil and other goods through the strait has stirred concern among shippers.
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The Strait of Hormuz is a major oil shipping route and the epicenter of the U.S. and Israel's ongoing war with Iran.
Oil extended gains and Asian stocks were set to track Wall Street lower after the standoff between the US and Iran intensified, raising concerns that disruptions to energy supplies could accelerate inflation.
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