Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with Covid infections spreading in the top oil-importing nation. China’s government is dismantling pandemic restrictions, yet a surge in infections there is prompting tougher travel rules on Chinese visitors in some countries. Read More
Oil prices rose in early trade on Wednesday after industry data showed U.S. crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil. Brent crude futures gained 25 cents, or 0.3%, to $88.61 a barrel at 0101 GMT, while U.S. West Read More
Oil prices rose on Tuesday and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Brent crude futures rose 72 cents to settle at $93.86 a barrel, while U.S. West Texas Intermediate crude rose $1.05 to $86.92. Russia’s state-owned pipeline monopoly Transneft has Read More
Oil prices extended losses in early Asian trade on Tuesday after OPEC cut its 2022 global demand forecast, while rising Covid-19 case numbers in China clouded the outlook for fuel consumption in the world’s top crude importing nation. Brent crude futures fell 39 cents, or 0.4%, to $92.75 a barrel by 0133 GMT after settling Read More
Gold prices jumped over 2% on Tuesday to firm above the key $1,700 per ounce level, boosted by a fall in the dollar and bond yields and technical buying, while market focus remained on U.S. inflation data later this week. Spot gold rose 2.2% to $1,711.87 per ounce Tuesday afternoon, its highest level since Oct. Read More
Oil prices edged 2% lower on Tuesday on growing worries about fuel demand as COVID-19 outbreaks worsened in top crude importer China, and jitters about the outcome of U.S. Midterm elections. Brent futures for January delivery fell $2.34 to $95.59 a barrel, a 2.4% loss. U.S. crude fell $2.64, or 2.9%, to $89.15 per barrel. Read More
Oil prices slid in early trade on Friday, extending losses from the previous session on fears U.S. interest rates will go higher than previously expected and fresh concerns that Covid outbreaks will dent fuel demand in China. Brent crude futures dropped by 22 cents, or 0.2%, to $94.45 a barrel at 0025 GMT after falling 1.5% Read More
Gold prices were flat on Friday but headed for a second week of gains, as some weak U.S. economic data fanned expectations that the Federal Reserve might ease the aggressive pace of raising interest rates beginning December. Fundamentals Spot gold was flat at $1,663.22 per ounce, as of 0130 GMT but it was up 0.4% for the week Read More
Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar. Brent crude futures rose 25 cents, or 0.3%, to $95.94 a barrel by 0015 GMT. U.S. West Texas Intermediate (WTI) crude rose 19 cents, or 0.2%, to Read More
Oil prices were near flat on Friday, as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up. Brent crude futures lost 5 cents to trade at $92.33 a barrel by 00:02 GMT. U.S. West Texas Intermediate futures rose 7 cents to trade at $84.58 a barrel. Brent Read More
