Oil prices trended lower on Tuesday following the previous session’s sharp gains as ​the market remained cautious about progress in US-Iran peace talks.

India and the United States are “about 99 percent” done with the first tranche of a trade deal, the commerce minister said, as a US delegation began talks in New Delhi on Tuesday.

A surge of US crude oil is arriving in Asia, but the record volumes are nowhere near enough to offset the loss of cargoes from the effective closure of the Strait of Hormuz.

The auction covers 44 lots comprising goods from 102 containers, including chemicals, machinery and spare parts, paper, freezers, generators, limestone, fabrics, transformers, quartz powder and household items

The United Nations Committee for Development Policy (CDP) has expressed a positive position regarding Bangladesh’s request to extend its preparatory period for graduation from the least developed country (LDC) category until November 24 in 2029, according to a statement from the Economic Relations Division (ERD) issued today

"About 99 percent of the issues have been settled," Indian commerce minister Piyush Goyal told reporters in Delhi late Monday

The tariffs would partially replace a 50% tariff on many Brazilian goods imposed by US President Donald Trump last year

US President Donald Trump on Monday signed a proclamation amending his Section 232 national security tariffs on some aluminum, steeland copper imports, the White House said.

China’s finished steel exports to India more than doubled in April to ‌the highest in at least two years, sparking worries among the latter’s steelmakers that despite the imposition of import tariffs they will be swamped by cheaply priced products.

Gold prices fell on Monday ‌as renewed US-Iran tensions pushed the dollar and oil prices higher, fuelling fears of inflation and reinforcing the higher-for-longer interest rate outlook.

Chinese companies in 15 key industrial sectors received vastly more state support than their international competitors between 2005 and 2024, according to an OECD report released on Monday.

Repression of workers’ rights has deepened around the globe, with even “stable” countries like France and the United States now seeing eroded labour protections, the world’s largest trade union organisation said Monday.

The economic shock from ​the Iran war hit European factories last month, suppressing demand for their goods and pushing up raw ‌material costs at the fastest rate in four years, although their Asian peers saw activity expand due to stockpiling, surveys showed on Monday.

Bangladesh received $3.42 billion in remittances in May this year as migrant workers and Bangladeshis living abroad sent more money home to help their families celebrate Eid-ul-Azha.

Oil prices rose more than 3 percent on Monday after Iran and the US traded strikes and Israel ordered troops to move further into Lebanon in its battle with Tehran-backed Hezbollah

The US trade deficit in goods contracted more than expected in April as a surge in exports blunted rising imports, but economists cautioned the trend was ​unlikely to be sustainable, with businesses ramping up investment in artificial intelligence.

India’s foreign exchange reserves fell to a more than one-year low of $681.4 ​billion in the week ended May 22, from $688.89 billion ‌a week earlier, the Reserve Bank of India (RBI) data showed on Friday.

China’s ​factory activity stalled in May as new export orders contracted and input costs kept rising, an official survey showed on Sunday, ‌adding to concerns the world’s second-largest economy is losing momentum despite pockets of strength in services and high-tech manufacturing.

Canada’s economy posted a surprise contraction in the first quarter versus the year before, making it two straight ‌quarters of annualised decline - which some economists call a technical recession - as the country struggles with US tariff uncertainty.

Oil futures fell more than 2 percent on Friday, closing out their steepest ​weekly decline since early April as traders awaited word that the US, Israel and Iran had reached agreement on a ceasefire.