Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand. Brent crude futures fell 59 cents, or 0.7%, to $88.73 per barrel by 0016 GMT while U.S. crude futures fell by 54 cents, or 0.7%, to $81.59. Both benchmarks rebounded in the prior two sessions amid volatile Read More
Oil prices were mixed in early Asian trade on Wednesday as support from U.S. production cuts caused by Hurricane Ian contended with crude storage builds and a strong dollar. Brent crude futures fell 4 cents, or 0.1%, to $86.23 per barrel by 0022 GMT, while U.S. West Texas Intermediate crude futures were up 22 cents at $78.03 per Read More
Oil steadied in early Asian trade on Tuesday as indications that producer alliance OPEC+ sought to avoid a collapse in prices, along with a slight softening in the U.S. dollar, tempered an earlier selloff. Brent crude futures rose 26 cents, or 0.3%, to $84.32 per barrel by 0033 GMT, while U.S. West Texas Intermediate crude futures were up Read More
Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow’s mobilization campaign in its war with Ukraine and apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell $2.81, or 3.11%, to $87.65 a barrel by 1051 GMT. Read More
Gold reversed losses after Federal Reserve Chair Jerome Powell explained the central bank’s reasoning for hiking interest rates on Wednesday. Spot gold initially fell after the Fed increased interest rates by 75 basis points for the third time in a row. The central bank also indicated it will continue hiking above the current level. Spot gold was Read More
Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and raising concerns of tighter oil and gas supply. Brent crude futures rose $2.17, or 2.4%, to $92.79 a barrel after falling $1.38 the previous day. U.S. West Texas Intermediate crude was at Read More
Gold prices fell on Tuesday, weighed down by a firmer dollar and elevated U.S. bond yields, as the Federal Reserve gears up for a hefty rate hike to tame inflation pressures. Spot gold was down 0.4% at $1,669.80 per ounce, as of 0839 GMT. U.S. gold futures were flat at $1,678.20. “Gold is under pressure, Read More
Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand. Brent crude futures rose $1.15, or 1.3%, to $92.50 a barrel by 0049 GMT after settling up Read More
Oil prices were broadly steady on Friday but on track for a weekly decline on fears of sharp interest rate increases expected to curb global economic growth and fuel demand. Brent crude futures were up 52 cents at $91.36 per barrel. U.S. West Texas Intermediate (WTI) crude futures added 29 cents to trade at $85.39 per barrel. Both Read More
Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude importer, and further increases in U.S. and European interest rates. Brent crude had risen $1.16, or 1.2%, to $95.16 a barrel, while WTI crude increased by $1.16, or 1.3%, Read More
Oil prices tumbled on Thursday, as new Covid-19 lockdown measures in China added to worries that high inflation and interest rate hikes are denting fuel demand. Brent crude futures fell $2.50, or 2.6%, to $93.15 per barrel. U.S. West Texas Intermediate (WTI) crude futures slid $2.31, or 2.6%, to $87.22 per barrel. “Western-world oil demand, as well as Read More
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