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
Oil prices rose in early Asian trade on Thursday after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output, though bearish economic signals from central bankers and falling equities weighed. U.S. crude futures rose 34 cents to $95.23 a barrel by 0016 GMT, while Brent crude futures rose 51 cents, or $101.73 a Read More
Benchmark Brent oil climbed above $100 a barrel on Wednesday after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn. Brent for October settlement reached a three-week high and was last up 92 cents at $101.14 per Read More
Oil prices slumped on Monday as investors were concerned that aggressive U.S. interest rate hikes might weaken the global economy and fuel demand while a stronger dollar also weighed. Brent crude futures for October settlement fell 27 cents, or 0.3%, to $96.45 a barrel. U.S. West Texas Intermediate (WTI) crude futures for September delivery, due Read More
Oil prices slipped on Friday after two days of gains and are heading for weekly losses as a strong dollar and worries about a global economic slowdown weigh. Brent crude futures were down 97 cents, or 1%, at $95.62 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was at $89.59 a barrel, down Read More
Gold prices gained on Tuesday supported by a softer dollar, while market participants awaited U.S. inflation data for cues on the Federal Reserve’s policy tightening path. Spot gold was 0.4% higher at $1,794.76 per ounce, while U.S. gold futures rose 0.4% to $1,811.40. A weaker greenback makes gold less expensive for overseas buyers. The dollar Read More
Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.47, or 1.5%, to $98.13 a barrel, while U.S. West Texas Intermediate (WTI) Read More
Gold prices gained on Tuesday supported by a softer dollar, while market participants awaited U.S. inflation data for cues on the Federal Reserve’s policy tightening path. Spot gold was 0.4% higher at $1,794.76 per ounce, while U.S. gold futures rose 0.4% to $1,811.40. A weaker greenback makes gold less expensive for overseas buyers. The dollar Read More
Gold prices edged lower on Monday after solid U.S. jobs data last week boosted the prospect of aggressive interest rate hikes by the U.S. Federal Reserve, lifting the dollar and Treasury yields. Spot gold was down 0.1% at $1,771.74 per ounce, as of 0454 GMT, after dropping 1% in the previous session. U.S. gold futures Read More
