Chevron lowers price of Venezuelan crude after US forces seize tanker

Gold prices have steadied after a five-day rally, as investors are closely monitoring upcoming US economic data that may influence the Federal Reserve's decisions on interest rates. This pause in gold's upward momentum comes amid anticipation of potential rate cuts by the Fed.

Asian equities opened with a modest decline as investors adopted a cautious approach ahead of the release of critical US economic data, which is expected to provide insights into future interest rate movements. The Japanese yen, however, gained strength during this period.

Oil prices have declined as the market adjusts to a more favorable supply outlook, which has outweighed disruptions in Venezuelan oil flows. The recent seizure of a sanctioned oil tanker by the U.S. near Venezuela has added to the volatility, yet traders remain focused on the broader supply dynamics.

Venezuela has accused Trinidad and Tobago of collaborating with the United States in the recent seizure of an oil tanker off its coast, an action described by the Maduro regime as theft of Venezuelan oil. This incident follows a broader pressure campaign by the Trump administration against Nicolás Maduro's government, escalating tensions in the region.

Bets against the US dollar, commonly referred to as the greenback, are increasing as investors prepare for a significant release of US economic data. This trend reflects a cautious sentiment in the markets, with many anticipating potential shifts in monetary policy based on upcoming indicators.

Venezuela's state oil company PDVSA has recently suffered a cyberattack, leading to significant disruptions in operations and causing tankers to make abrupt U-turns amid rising tensions with the United States.

The United States has paused its £31 billion tech prosperity deal with Britain, citing insufficient progress on resolving trade barriers. This decision represents a significant setback in US-UK relations, particularly as the deal was initially celebrated as a transformative step in bilateral cooperation during Donald Trump's presidency.

The United States has requested that the European Union exempt its liquefied natural gas (LNG) from a proposed methane emissions law, as revealed in a recent document. This demand comes amid ongoing discussions about energy supply and environmental regulations, highlighting the complexities of transatlantic energy relations.