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
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
