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LONDON (Reuters) -Oil prices rose to the highest in two weeks on Thursday amid low liquidity ahead of the Easter holidays after the United States imposed new sanctions to curb Iranian oil exports, elevating supply concerns. Thursday is the last settlement day of the week ahead of the Easter holidays. The new sanctions on Iranian oil exports and hawkish comments on the issue from the U.S. Treasury are increasing supply concerns and helping support crude, said UBS analyst Giovanni Staunovo.

"I just think that we've got to, we've got to be a little patient to see how some of these things play out," Schmid said in a webcast conversation with Dallas Federal Reserve Bank President Lorie Logan at a Dallas Fed event. At the end of the day, he said, the Fed will "react in a positive way to any of those disruptions that might affect that dual mandate," referring to the Fed's mandates of achieving both price stability and full employment.

(Reuters) -BHP Group said that an escalating trade war could harm the world economy and adaptation was key to sustaining global growth, as it reported a slight decline in iron ore production in the third quarter on Thursday. The direct impact on BHP of the tariffs unleashed by U.S. President Donald Trump this month was limited, the mining giant said. Trump has since postponed some of the duties, but has increased levies on China even further.

Trump's trade war is causing all sorts of extreme dislocations in market and economic sentiment.

US oil and gas operators face significant challenges due to recent economic policy changes, potentially leading to decreased production and market uncertainty.

(Bloomberg) -- US Treasuries rallied for a third day as Federal Reserve Chair Jerome Powell said the central bank will aim to prevent tariffs from leading to stickier inflation.Most Read from BloombergTrump Signs Executive Orders on Federal Purchasing, Office SpaceHow Did This Suburb Figure Out Mass Transit?Why the Best Bike Lanes Always Get BlamedDOGE Places Entire Staff of Federal Homelessness Agency on LeaveLA County Floats Leaner Budget Burdened by Fire and Legal CostsThe five-year note led

Federal Reserve Chair Jerome Powell on Wednesday reiterated the long-held view of Fed chairs going back decades that growth in the U.S. federal debt needs to be reined in, but he suggested that politicians are going about it the wrong way. "We're running very large deficits at full employment, and this is a situation that we very much need to address" Powell said at an event at the Economic Club of Chicago. "All of this domestic discretionary spending, which is essentially where 100% of the conversation is, is small as a percentage of federal spending and is declining ... When people are focusing on cutting domestic spending, they're not actually working on the problem."