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
Author: Updates Comex
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
Brent crude futures extended declines for a third session on Thursday, slipping under $100 a barrel, as fears of a potential global recession spurred concerns about oil demand. Brent crude futures fell 94 cents, or 0.9%, to $99.75 a barrel by 0231 GMT after tumbling to a session low of $98.50 earlier. WTI crude futures slid 79 cents, Read More
Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger. Brent crude futures rose as much as $3.08, or 2.9%, to Read More
Oil prices fell in early Asian trade on Monday, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia. Brent crude futures slipped 35 cents, or 0.3%, to $111.28 a barrel at 0016 GMT, having Read More
Oil prices rose 2% on Friday, recouping most of the previous session’s declines, as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand. Brent crude futures rose $2.61, or 2.4%, to $111.63 per barrel. WTI crude futures for August delivery rose $2.41, or 2.25%, to $108.15 Read More
Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while political unrest in Libya and Ecuador added to those supply concerns. U.S. West Texas Intermediate (WTI) crude futures rose 1.7% to $111.44 a barrel, extending a Read More
Oil prices settled up by more than $3 a barrel on Friday, supported by tight supply, but they notched their second weekly decline on concern that rising interest rates could push the world economy into recession. Brent crude settled up $3.07, or 2.8%, at $113.12 a barrel by 12:10 p.m. EDT (1610 GMT). U.S. West Read More
Gold prices inched lower on Thursday, pressured by expectations of aggressive interest rate hikes after the U.S. Federal Reserve chief doubled down on the central bank’s fight against inflation. Spot gold was down 0.2% at $1,832.91 per ounce by 0239 GMT. U.S. gold futures fell 0.2% to $1,834.30. “With [Fed Chair Jerome] Powell pointing out Read More