Goldman Sachs Group Inc. sees two-sided risks to oil prices as a slump in demand competes with supply losses from the Middle East because of the Iran war. April oil sales data from China and Western Europe jointly imply about 2 million barrels a day of downside risk to the bank’s “already low” demand estimates for the month, analysts including Daan Struyven said in a note dated May 31. That adds a...
Goldman Sachs Group Inc. sees two-sided risks to oil prices as a slump in demand competes with supply losses from the Middle East because of the Iran war. April oil sales data from China and Western Europe jointly imply about 2 million barrels a day of downside risk to the bank’s “already low” demand estimates for the month, analysts including Daan Struyven said in a note dated May 31. That adds about $10 a barrel of downside risk to a forecast of Brent crude prices of $90 a barrel in the fourth quarter. The global oil market has been upended by the Iran war, with shipments from Persian Gulf producers through the Strait of Hormuz cut to a trickle — leading to the shut-in of millions of barrels of production. The Brent benchmark has rallied more than a quarter since the start of the conflict in late February, leading to demand destruction, especially for jet fuel and petrochemical feedstocks. “We see significant upside price risks from potentially more persistent Mideast supply losses but also meaningful price downside from weaker demand,” the Goldman analysts said. “Actual end-use oil demand may have fallen more in response to higher prices than expected.” China’s oil imports are set to drop to levels not seen since the pandemic , as the war reveals the extent to which demand has disappeared and may not be coming back. The world’s biggest crude importer may have inbound shipments of just 10.9 million barrels a day this year, according to London-based consultancy Energy Aspects Ltd. Brent futures traded near $93 a barrel on Monday after closing at a six-week low on Friday amid optimism for a peace deal between the US and Iran.
Maximusnd/iStock via Getty Images Fund performance Institutional Class shares of Columbia Intermediate Duration Municipal Bond Fund returned 0.10% for the three months ending March 31, 2026. For monthly performance information, please check online at columbiathreadneedleus. com . The fund's benchmark, the Bloomberg 3-15 Year Blend Municipal Bond Index, returned -0.34% for the same period. The fund...
Maximusnd/iStock via Getty Images Fund performance Institutional Class shares of Columbia Intermediate Duration Municipal Bond Fund returned 0.10% for the three months ending March 31, 2026. For monthly performance information, please check online at columbiathreadneedleus. com . The fund's benchmark, the Bloomberg 3-15 Year Blend Municipal Bond Index, returned -0.34% for the same period. The fund outperformed its benchmark, with its slightly below benchmark duration and bar-bell structure providing down-side protection during the March selloff. Market overview Market volatility returned in the first quarter of 2026, as investors navigated a complex mix of geopolitical risk, shifting inflation expectations and an evolving U. S. Federal Reserve policy outlook. Escalating tensions in the Middle East and a sharp rise in energy prices contributed to renewed inflation concerns late in the quarter, while uncertainty around artificial intelligence ( AI ) –driven productivity gains and global trade policy weighed on risk sentiment. Against this backdrop, the Fed paused its rate-easing cycle, leaving the federal funds rate unchanged at 3.50%–3.75% and reinforcing a data-dependent stance amid persistent inflation pressures and slower employment growth. First-quarter returns were negative across most asset classes. The S&P ( SPGI ) 500 Index and MSCI ( MSCI ) ACWI (ex US) Index both declined, by 4.33% and 0.71%, respectively, while the Russell 2000 Index rose 0.89%. The Bloomberg US Treasury Index, Bloomberg Aggregate Bond Index and Bloomberg Municipal Bond Index all saw negative performance, declining by 0.04%, 0.05% and 0.18%, respectively. Treasury yields moved higher across the yield curve during the quarter, rising by 32, 19, 12 and 4 basis points ( BPS ) in 2-, 5-, 10- and 30-year maturities, respectively. () Municipal yields also increased across the curve, by 3, 26, 36 and 23 for the same maturities. The municipal market witnessed a return of the “January effect, ” lea...
‘Innovative artist’, who was married to George Lucas until 1983 and worked on several Martin Scorsese films, has died from metastatic cancer Marcia Lucas, who won an Oscar as editor of the 1977 film Star Wars and was part of a group of pioneering female editors who were essential to film’s New Hollywood era, has died aged 80. Lucas, who was married to the Star Wars creator, George Lucas, from 1969...
‘Innovative artist’, who was married to George Lucas until 1983 and worked on several Martin Scorsese films, has died from metastatic cancer Marcia Lucas, who won an Oscar as editor of the 1977 film Star Wars and was part of a group of pioneering female editors who were essential to film’s New Hollywood era, has died aged 80. Lucas, who was married to the Star Wars creator, George Lucas, from 1969 to 1983, died on Wednesday from metastatic cancer, her attorney Deidre Von Rock said in an email to the Associated Press. Continue reading...
(RTTNews) - The Japanese stock market is trading significantly higher on Monday, extending the sharp gains in the previous session, following the broadly positive from Wall Street on Friday, with the Nikkei 225 moving above the 67,000 mark to fresh all-time highs, with gains in i
(RTTNews) - The Japanese stock market is trading significantly higher on Monday, extending the sharp gains in the previous session, following the broadly positive from Wall Street on Friday, with the Nikkei 225 moving above the 67,000 mark to fresh all-time highs, with gains in i
China’s manufacturing activity slowed in May, according to a private survey of export-oriented firms, in line with an official gauge that suggests the world’s second-largest economy is losing some steam. The RatingDog China manufacturing purchasing managers index fell to 51.8 from 52.2 in April, according to a statement released on Monday. That compared with the median forecast of 51.3 by economis...
China’s manufacturing activity slowed in May, according to a private survey of export-oriented firms, in line with an official gauge that suggests the world’s second-largest economy is losing some steam. The RatingDog China manufacturing purchasing managers index fell to 51.8 from 52.2 in April, according to a statement released on Monday. That compared with the median forecast of 51.3 by economists. A reading above the 50 threshold indicates improving conditions from the previous month. Official figures released Sunday showed factory activity fell to 50 from 50.3 in April, as disruptions from a five-day break added to pressures on global demand and input costs from the continuing conflict in the Middle East. The war in Iran is taking a toll on smaller export-oriented firms and raising their input costs. Still, tech remains a bright spot, with Goldman Sachs Group Inc. and Nomura Holdings Inc. estimating China’s overseas sales of semiconductors, computers and other products related to artificial intelligence accounted for about half of its export growth in April. The economy, however, is showing signs of faltering after a strong first quarter. Growth slowed across the board in April, with industrial production and retail sales posting their weakest gains in years. Chinese exports have continued to surge this year after an unprecedented $1.2 trillion trade surplus last year. Shipping volumes so far in 2026 are mostly staying above last year’s record-setting levels, thanks in part to demand driven by investments in data centers and power equipment to support a global AI buildout. The surging demand for AI-related goods along with a global oil shock from the war in Iran pushed China’s export prices to rise at the sharpest pace in three years last month. China Export Prices Climb Most in Three Years on Oil Shock World’s Appetite for AI Makes China Less Afraid of Stronger Yuan EU Plans Tougher Trade Measures to Rebuff Chinese Export Surge China’s Economy Succumbs to Slowd...