Oil prices were mixed on Thursday, as concerns about a potential global recession that would knock energy demand offset lower crude inventories and a rebound in U.S. gasoline consumption. Brent crude futures ended the day 52 cents higher at $107.14, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) settled 84 cents, or Read More
Oil prices edged up on Thursday, extending gains from the previous session, buoyed by lower crude inventories and higher gasoline demand in the United States. Brent crude futures for September rose 40 cents, or 0.4%, to $107.02 a barrel by 0010 GMT, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) was at Read More
Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures for September settlement rose $1.66, or 1.6%, to $106.81 a barrel, extending a 1.9% gain in the previous Read More
Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the U.S., the world’s biggest oil user, may limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel at 0205 GMT, down for Read More
Oil prices fell more than $4 on Thursday after higher U.S. gasoline stockpiles stoked demand worries and returning energy supply from Libya and Russia eased supply concerns. Brent crude futures dropped $4.29, or 4%, to $102.65 a barrel by after slipping 0.4% in the previous session. U.S. West Texas Intermediate crude futures fell $4.15, or Read More
Oil prices fell more than $1 a barrel on Wednesday, under pressure from global central bank efforts to limit inflation and ahead of expected builds in U.S. crude inventories as fuel demand weakens. Brent crude prices for September fell $1.06, or 0.9%, to $106.29 a barrel, while U.S. West Texas Intermediate (WTI) crude for August Read More
Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread Covid-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose $2.20, or 2.2%, to $103.36 a barrel, having advanced by 2.1% on Friday. U.S. West Read More
Oil prices rose on Friday amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains. Brent crude futures for September delivery added 2.3% to trade at $101.37 per barrel, while WTI crude rose 1.9% to $97.61. “Oil is trading very much to the beat of Federal Reserve policy and the implications it Read More
Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a U.S. supply report showing rising inventories and caution ahead of U.S. inflation data. Despite a tight physical oil market, investors have sold oil futures on worries that aggressive rate hikes Read More
Gold was pinned at near a nine-month low on Monday as bets for aggressive interest rate hikes by the U.S. Federal Reserve and the dollar’s ascent dimmed appeal for bullion. Spot gold fell 0.3% to $1,737.32 per ounce. U.S. gold futures dipped 0.3% to $1,737.00. Despite recession risks, lately investors have opted for dollar over Read More
