May

Crude oil prices plummeted to near multi-year lows following President Trump’s reciprocal tariff announcement, with a larger-than-expected production increase by OPEC and its allies adding further pressure to the sell-off.

Major central banks are set to decide on interest rates this week, providing guidance on market trajectory. Investors will particularly focus on the Federal Reserve’s policy outlook, as the bank may step in and buoy a wobbly Wall Street after it fell into correction territory.

Residents have been warned that evacuations may be necessary if the seismic activity continues.

Party leaders advocate for snap elections, which may occur on either 11 or 18 May. President Marcelo Rebelo de Sousa, who is convening the Council of State tomorrow, will make the decision.

In a historic move, the leader of the Kurdistan Workers’ Party has called for the group to disarm, paving the way for a new peace process in Turkey and a reshaping of alliances in Syria.

Crude oil prices rose to a three-week high amid mounting concerns over supply disruptions and increasing demands. However, technical analysts caution that oil markets may be over-bought.