Oil prices inched higher on Monday, recovering from an 8% fall last week to more than three-week lows, driven by expectations slower growth in major economies may limit fuel use. Brent crude futures rose 43 cents, or 0.5, to $80.37 a barrel, while U.S. West Texas Intermediate (WTI) crude futures climbed 25 cents to $73.64. Read More
Oil prices eased on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. Brent crude futures fell 8 cents, or 0.1%, to $82.09 a barrel, while U.S. West Texas Intermediate (WTI) crude Read More
Oil prices closed steady on Tuesday after recovering from a near three-week low, drawing support from a weakening dollar and on data showing that demand for U.S. crude and petroleum products rose in November. The more active second-month Brent contract settled at $85.46 a barrel, up 96 cents or 1%, while the U.S. West Texas Read More
Oil prices fell on Tuesday, touching two-week lows on the prospect of further interest rate increases, a stronger U.S. dollar and ample Russian crude flows. March Brent crude futures were 86 cents, or 1%, lower at $84.04 per barrel, having touched their weakest level since Jan. 13 earlier in the session. The March contract expires on Read More
Oil prices rose about 2% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data. Brent futures rose $1.35, or 1.6%, to settle at $87.47 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 86 cents, or 1.1%, to settle at Read More
Oil prices rose 1% on Thursday on expectations that demand will strengthen as top oil importer China reopens its economy and on news U.S. crude inventories have risen less than expected. Brent crude futures rose 78 cents, or 0.9%, to $86.90 a barrel by 1046 GMT. U.S. West Texas Intermediate (WTI) crude futures were up Read More
Oil rose by about $1 a barrel on Friday and posted second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of Covid-19 restrictions in China is set to increase global demand to a record high this Read More
The dollar soared against the yen on Friday, on track for its largest daily gain in roughly two weeks, after the Bank of Japan governor repeated that the central bank will maintain its ultra-loose monetary policy amid speculation an imminent shift is coming. BOJ Governor Haruhiko Kuroda, who addressed the World Economic Forum in the Read More
Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent future for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per barrel, a 0.7% gain. The benchmarks were on track for Read More
Oil futures fell Thursday, extending losses from the previous day, as a surprise jump in U.S. crude stocks weighed on the market along with fears of a recession that were heightened by disappointing U.S. retail sales and output data. Brent crude futures lost 83 cents, or 1%, to $84.15 a barrel, after earlier easing to Read More
