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
Oil prices rose on Wednesday, extending the previous session’s gains, driven by optimism that a relaxation of China’s strict Covid curbs will lead to a recovery in fuel demand in the world’s top oil importer. Brent crude futures were up 52 cents, or 0.6%, at $86.44 a barrel at 0151 GMT, following a 1.7% rally in the previous session. Read More
Oil prices rose on Tuesday after China posted its second-weakest annual economic growth in nearly half a century, though its recent shift in Covid-19 policy underpinned hopes of a recovery in fuel demand this year. Brent crude futures rose $1.18 cents, or 1.4%, to $85.65 a barrel. U.S. West Texas Intermediate (WTI) crude wadded 49 Read More
Oil rose about 1% on Thursday supported by optimism over China’s demand outlook and hopes that upcoming inflation data from the United States will point to a slower increase in interest rates. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting optimism that demand for fuel will grow Read More
Oil prices edged slightly higher on Tuesday as the U.S. government forecast record global petroleum consumption next year and as the dollar hovered at seven-month lows. Global consumption of liquid fuels is forecast to reach 102.2 million barrels per day in 2024, driven primarily by growth in countries like India and China, reflecting trends in Read More
Oil prices climbed more than 3% on Monday as China’s move to reopen its borders boosted the demand outlook and overshadowed global recession concerns. The rally was part of a wider recovery in risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to U.S. interest rates Read More
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 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 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
