<a href="https://www.wionews.com/business-economy/oil-prices-fall-on-weak-demand-growth-rise-in-us-crude-stocks-226381">Oil&nbsp;prices&nbsp;fell</a> for a&nbsp;second&nbsp;day&nbsp;on Tuesday&nbsp;on signs that global economic growth is being hit by the <a href="https://www.wionews.com/business-economy/amid-us-china-trade-war-india-can-boost-exports-of-300-products-to-both-countries-report-227511">US-China trade war</a>, though losses were capped by Middle East tensions after last week's tanker attacks.

Brent crude futures were trading 42 cents down at $60.52 a barrel by 0932 GMT. US West Texas Intermediate crude futures lost 26 cents to $51.67.

The New York Federal Reserve on Monday&nbsp;said that its gauge of business growth in New York state posted a record fall this month to its weakest level in more than 2-1/2 years, suggesting an abrupt contraction in regional activity.

US business sentiment has sagged as trade tensions have escalated between China and the United States and on signs of softness in the labour market.

<a href="https://www.wionews.com/world/oil-prices-fall-on-surging-us-crude-stockpiles-economic-concerns-220779">Oil&nbsp;prices&nbsp;have fallen</a> by about 20% from April's 2019 highs, partly because of concerns over the US-China trade war and disappointing economic data.

US President Donald Trump and China's President Xi Jinping could meet at the G20 summit in Japan this month. Trump has said he would meet Xi at the event, though China has not confirmed the meeting.

Putting further pressure on&nbsp;oil, the US energy department on Monday&nbsp;said that shale&nbsp;oil&nbsp;output is expected to reach a record high in July.

Fears of a confrontation between Iran and the United States have mounted since last Thursday's&nbsp;oil&nbsp;tanker attacks, which Washington has blamed on Tehran. Iran has denied involvement.

"Oil&nbsp;prices&nbsp;appear unperturbed by the further escalation of the Iran crisis," said Commerzbank's Carsten Fritsch.

Iran on Monday&nbsp;said it would breach internationally agreed curbs on its stock of low-enriched uranium within 10&nbsp;days, adding that European nations still had time to save a landmark nuclear deal.

Acting US Defense Secretary Patrick Shanahan announced on Monday&nbsp;the deployment of about 1,000 more troops to the Middle East for what he said were defensive purposes, citing concerns about a threat from Iran.

Saudi Arabian Energy Minister Khalid al-Falih on Monday&nbsp;said that countries need to cooperate on keeping shipping lanes open for&nbsp;oil&nbsp;and other energy supplies to ensure stable supplies.

He also said that Saudi exports and production are expected to remain at "about the same level" as the past few months.

Market participants are also awaiting a meeting between the Organisation of the Petroleum Exporting Countries and other producers including Russia, a group known as OPEC+, to decide whether to extend a production cut agreement that ends this month.

Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the US-China trade war, though losses were capped by Middle East tensions after last week's tanker attacks.

Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the US-China trade war, though losses were capped by Middle East tensions after last week's tanker attacks. Brent crude futures were trading 42 cents down at $60.52 a barrel by 0932 GMT. US West Texas Intermediate crude futures lost 26 cents to $51.67. The New York Federal Reserve on Monday said that its gauge of business growth in New York state posted a record fall this month to its weakest level in more than 2-1/2 years, suggesting an abrupt contraction in regional activity. US business sentiment has sagged as trade tensions have escalated between China and the United States and on signs of softness in the labour market. Oil prices have fallen by about 20% from April's 2019 highs, partly because of concerns over the US-China trade war and disappointing economic data. US President Donald Trump and China's President Xi Jinping could meet at the G20 summit in Japan this month. Trump has said he would meet Xi at the event, though China has not confirmed the meeting. Putting further pressure on oil, the US energy department on Monday said that shale oil output is expected to reach a record high in July. Fears of a confrontation between Iran and the United States have mounted since last Thursday's oil tanker attacks, which Washington has blamed on Tehran. Iran has denied involvement. "Oil prices appear unperturbed by the further escalation of the Iran crisis," said Commerzbank's Carsten Fritsch. Iran on Monday said it would breach internationally agreed curbs on its stock of low-enriched uranium within 10 days, adding that European nations still had time to save a landmark nuclear deal. Acting US Defense Secretary Patrick Shanahan announced on Monday the deployment of about 1,000 more troops to the Middle East for what he said were defensive purposes, citing concerns about a threat from Iran. Saudi Arabian Energy Minister Khalid al-Falih on Monday said that countries need to cooperate on keeping shipping lanes open for oil and other energy supplies to ensure stable supplies. He also said that Saudi exports and production are expected to remain at "about the same level" as the past few months. Market participants are also awaiting a meeting between the Organisation of the Petroleum Exporting Countries and other producers including Russia, a group known as OPEC+, to decide whether to extend a production cut agreement that ends this month.

Oil prices slip for second day on global growth fears

Bangladesh's central bank on Thursday sued a Philippine bank to recoup losses it suffered when unidentified hackers stole $81 million from its account at the Federal Reserve Bank of New York nearly three years ago.

In a complaint filed with the US District Court in Manhattan, Bangladesh Bank accused Rizal Commercial Banking Corp (RCBC) and dozens of others, including several top executives, of involvement in a "massive" and "intricately planned" multi-year conspiracy to steal its money.

Bangladesh Bank said funds were stolen with the help of unnamed North Korean hackers who used malware with such names as "Nestegg" and "Macktruck" to obtain backdoor access its network.

It said funds were then funnelled through RCBC accounts in New York City and to the Philippines, where much of it disappeared in that country's casino industry.

RCBC did not immediately respond to a request for comment after market hours.

It had said on Wednesday, after learning the lawsuit would be filed: "We welcome this complaint, as it is an opportunity for RCBC to put on record again that it was a victim of what was started in Bangladesh by still-unnamed persons."

The case arose from a February 2016 incident when hackers tricked the New York Fed into sending out the $81 million.

Funds eventually landed in four accounts held in fake names at an RCBC branch in Makati City. Much of it was quickly withdrawn, and only about $15 million has been recovered.

RCBC, based in Manila, has contended that the theft was an inside job and accused Bangladesh Bank of a cover-up.

Fazle Kabir, governor of Bangladesh Bank, said on Wednesday the New York Fed had signed an agreement to help with the case.

A New York Fed spokeswoman declined to discuss what support her office might offer.

The hackers sought to steal close to $1 billion, but ultimately stole $101 million, including $20 million sent to a Sri Lankan account. That transfer was reversed after a spelling error was caught.

On Jan. 10, a Philippine court found Maia Deguito, who managed RCBC's Makati City branch, guilty of eight counts of money laundering tied to the heist. It sentenced her to a 32- to 56-year prison term and a $109 million fine.

Deguito is a defendant in Thursday's lawsuit. Her lawyer could not immediately be reached for comment.

In August 2016, the Philippine central bank fined RCBC a record 1 billion pesos ($19 million) for failing to stop stolen money from moving through the bank.

The case is Bangladesh Bank v Rizal Commercial Banking Corp et al, U.S. District Court, Southern District of New York, No. 19-00983.

Bangladesh's central bank on Thursday sued a Philippine bank to recoup losses it suffered when unidentified hackers stole $81 million from its account at the Federal Reserve Bank of New York nearly three years ago.

Bangladesh's central bank on Thursday sued a Philippine bank to recoup losses it suffered when unidentified hackers stole $81 million from its account at the Federal Reserve Bank of New York nearly three years ago. In a complaint filed with the US District Court in Manhattan, Bangladesh Bank accused Rizal Commercial Banking Corp (RCBC) and dozens of others, including several top executives, of involvement in a "massive" and "intricately planned" multi-year conspiracy to steal its money. Bangladesh Bank said funds were stolen with the help of unnamed North Korean hackers who used malware with such names as "Nestegg" and "Macktruck" to obtain backdoor access its network. It said funds were then funnelled through RCBC accounts in New York City and to the Philippines, where much of it disappeared in that country's casino industry. RCBC did not immediately respond to a request for comment after market hours. It had said on Wednesday, after learning the lawsuit would be filed: "We welcome this complaint, as it is an opportunity for RCBC to put on record again that it was a victim of what was started in Bangladesh by still-unnamed persons." The case arose from a February 2016 incident when hackers tricked the New York Fed into sending out the $81 million. Funds eventually landed in four accounts held in fake names at an RCBC branch in Makati City. Much of it was quickly withdrawn, and only about $15 million has been recovered. RCBC, based in Manila, has contended that the theft was an inside job and accused Bangladesh Bank of a cover-up. Fazle Kabir, governor of Bangladesh Bank, said on Wednesday the New York Fed had signed an agreement to help with the case. A New York Fed spokeswoman declined to discuss what support her office might offer. The hackers sought to steal close to $1 billion, but ultimately stole $101 million, including $20 million sent to a Sri Lankan account. That transfer was reversed after a spelling error was caught. On Jan. 10, a Philippine court found Maia Deguito, who managed RCBC's Makati City branch, guilty of eight counts of money laundering tied to the heist. It sentenced her to a 32- to 56-year prison term and a $109 million fine. Deguito is a defendant in Thursday's lawsuit. Her lawyer could not immediately be reached for comment. In August 2016, the Philippine central bank fined RCBC a record 1 billion pesos ($19 million) for failing to stop stolen money from moving through the bank. The case is Bangladesh Bank v Rizal Commercial Banking Corp et al, U.S. District Court, Southern District of New York, No. 19-00983.

Bangladesh sues Philippine bank over cyber heist at New York Federal Reserve Bank

Gold rose as much as 1 per cent today, hitting the highest in more than two years, as investors piled back into safe havens such as bullion amid renewed market jitters over Britain&#39;s decision to leave the European Union (EU).&nbsp; 
 
Asian shares also tumbled as fears over instability in the EU returned with a vengeance, sending the pound to three-decade low and hammering risky assets. 
 
Spot gold touched its highest since March 2014 at $1,371.40, and was trading up 0.9 per cent at $1,367.20 an ounce by 0401 GMT. It surpassed the $1,358.20 mark hit on June 24 in the immediate aftermath of the Brexit vote. 
 
US gold was up 0.8 per cent at $1,369.40. 
 
&quot;No one is able to understand how much risk is yet to be unravelled (from Brexit). That is an uncertainty that no one likes. This is what is driving gold prices higher,&quot; said Helen Lau, an analyst at Argonaut Securities in Hong Kong. 
 
Yellow metal is on track to log its biggest yearly gain since 2010&nbsp; 
 
The Bank of England took steps on Tuesday to ensure British banks keep lending as the financial consequences of the decision to leave the EU began to materialise. 
 
The yellow metal, often favoured as a hedge against economic and financial uncertainty, has risen about 29 per cent this year and is on track to log its biggest yearly gain since 2010. 
 
Further boosting gold, were comments from New York Federal Reserve President William Dudley, who said that the central bank can be patient on raising interest rates due to low inflation and uncertainties over US economic prospects. 
 
New orders for US factory goods fell in May on weak demand for transportation and defence capital goods, but growing order backlogs and lean inventories suggested the worst of the manufacturing downturn was probably over. 
 
Investors will be watching out for signs on the US Federal Reserve&#39;s thinking on rates from minutes of its June 14-15 meeting due later in the day. 
 
Holdings in SPDR Gold Trust, the world&#39;s largest gold-backed exchange-traded fund, increased 3.02 per cent to 982.72 tonnes on Tuesday, the highest since June 2013. 
 
SPDR gold holdings have jumped more than 50 per cent this year so far, heading for biggest annual rise since 2006. 
 
Spot silver&#39;s rally hit a bump on Tuesday as the metal fell 2 per cent, its biggest one-day loss in about three weeks. It was up 1.7 per cent at $20.26. 
 
Among other precious metals, platinum, which was trading at two-month highs, edged 0.2 per cent lower to $1,070.24 an ounce. 
 
Palladium was up 0.3 per cent at $599.47. 
 
(Reuters)&nbsp;

Asian shares also tumbled as fears over instability in the EU returned with a vengeance, sending the pound to three-decade low

Gold rose as much as 1 per cent today, hitting the highest in more than two years, as investors piled back into safe havens such as bullion amid renewed market jitters over Britain's decision to leave the European Union (EU). Asian shares also tumbled as fears over instability in the EU returned with a vengeance, sending the pound to three-decade low and hammering risky assets. Spot gold touched its highest since March 2014 at $1,371.40, and was trading up 0.9 per cent at $1,367.20 an ounce by 0401 GMT. It surpassed the $1,358.20 mark hit on June 24 in the immediate aftermath of the Brexit vote. US gold was up 0.8 per cent at $1,369.40. "No one is able to understand how much risk is yet to be unravelled (from Brexit). That is an uncertainty that no one likes. This is what is driving gold prices higher," said Helen Lau, an analyst at Argonaut Securities in Hong Kong. Yellow metal is on track to log its biggest yearly gain since 2010 The Bank of England took steps on Tuesday to ensure British banks keep lending as the financial consequences of the decision to leave the EU began to materialise. The yellow metal, often favoured as a hedge against economic and financial uncertainty, has risen about 29 per cent this year and is on track to log its biggest yearly gain since 2010. Further boosting gold, were comments from New York Federal Reserve President William Dudley, who said that the central bank can be patient on raising interest rates due to low inflation and uncertainties over US economic prospects. New orders for US factory goods fell in May on weak demand for transportation and defence capital goods, but growing order backlogs and lean inventories suggested the worst of the manufacturing downturn was probably over. Investors will be watching out for signs on the US Federal Reserve's thinking on rates from minutes of its June 14-15 meeting due later in the day. Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, increased 3.02 per cent to 982.72 tonnes on Tuesday, the highest since June 2013. SPDR gold holdings have jumped more than 50 per cent this year so far, heading for biggest annual rise since 2006. Spot silver's rally hit a bump on Tuesday as the metal fell 2 per cent, its biggest one-day loss in about three weeks. It was up 1.7 per cent at $20.26. Among other precious metals, platinum, which was trading at two-month highs, edged 0.2 per cent lower to $1,070.24 an ounce. Palladium was up 0.3 per cent at $599.47. (Reuters)

Gold at highest in over two years over renewed Brexit concerns