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
Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signaling weak U.S. fuel demand. Brent crude futures rose 53 cents, or 0.6%, at $97.31 a barrel by 0020 GMT while West Texas Intermediate (WTI) crude futures rose 55 cents, also a 0.6% gain, to Read More
Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous Read More
Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply. Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum in July as flagging global Read More
Oil prices were mixed on Thursday, as concerns about a potential global recession that would knock energy demand offset lower crude inventories and a rebound in U.S. gasoline consumption. Brent crude futures ended the day 52 cents higher at $107.14, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) settled 84 cents, or Read More
Oil prices edged up on Thursday, extending gains from the previous session, buoyed by lower crude inventories and higher gasoline demand in the United States. Brent crude futures for September rose 40 cents, or 0.4%, to $107.02 a barrel by 0010 GMT, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) was at Read More
Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures for September settlement rose $1.66, or 1.6%, to $106.81 a barrel, extending a 1.9% gain in the previous Read More
Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the U.S., the world’s biggest oil user, may limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel at 0205 GMT, down for Read More
Oil prices fell more than $4 on Thursday after higher U.S. gasoline stockpiles stoked demand worries and returning energy supply from Libya and Russia eased supply concerns. Brent crude futures dropped $4.29, or 4%, to $102.65 a barrel by after slipping 0.4% in the previous session. U.S. West Texas Intermediate crude futures fell $4.15, or Read More
Oil prices fell more than $1 a barrel on Wednesday, under pressure from global central bank efforts to limit inflation and ahead of expected builds in U.S. crude inventories as fuel demand weakens. Brent crude prices for September fell $1.06, or 0.9%, to $106.29 a barrel, while U.S. West Texas Intermediate (WTI) crude for August Read More
Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread Covid-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose $2.20, or 2.2%, to $103.36 a barrel, having advanced by 2.1% on Friday. U.S. West Read More
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