Fri, June 09, 2023

anne smith

Oil prices rose

Oil prices fell as potential U.S. interest rate hikes could slow growth

Oil prices retreated as a potential U.S. interest rate hike, which could slow growth and pause oil consumption, weighed on strong economic data from China. Brent crude futures were down $1.83, or 2.23%, at $82.94 a barrel, while West Texas Intermediate was down $1.83. The U.S. Federal Reserve is likely to make another interest rate …

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dollar

Dollar steadied after it seesawed with bond market volatility

The dollar held steady after seeing bond markets falter as investors eyed U.S. economic data. Meanwhile, the dollar index advanced 0.112% to 101.84 in Asian trade after retreating 0.37% on Tuesday, reversing the previous session’s 0.54% rally. Two-year U.S. Treasury yields hit a near one-month high of 4.232% overnight and remained higher in Tokyo trading …

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Oil

India snapped up the vast majority of Russian oil

In April, India and China bought most of the Russian oil at prices above $60 a barrel in the West. This means that the Kremlin enjoys stronger revenues, despite Western sanctions to limit funds for Russian military operations in Ukraine. Western price caps should remain stable for now, despite pressure from some EU countries, such as …

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dollar

Dollar dropped on China’s better-than-expected growth forecast

The dollar retreated against major currencies after better-than-expected growth figures from China. British payrolls supported the pound. China’s gross domestic product advanced 4.52% in the first three months of the year, beating analysts’ expectations of a 4% expansion as it ranked second in the world after the end of COVID-19 restrictions. Separate reports on March …

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Oil might reach $150 per barrel as OPEC+ will control supply

Oil prices retreated after increasing for 2 sessions

Oil prices retreated after hitting a two-session high, with investors again expressing concern over a possible U.S. recession and lower oil demand. Brent oil prices retreated by 19 cents, or 0.22%, to $87.15 per barrel. U.S. West Texas Intermediate fell 11 cents or 0.12%. Both benchmarks advanced 2% to record highs on Wednesday, as a …

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Oil Rises On Tight Supply Moves

Oil prices steadied as the market waited for U.S. inflation data

Oil prices held steady as the market awaited the U.S. inflation report later in the day, which will greatly impact the Federal Reserve’s policy on raising interest rates. Brent crude oil prices were up 14 cents, or 0.2%, at $85.76 a barrel, while U.S. West Texas Intermediate was up 10 cents, or 0.11%, at $81.64 …

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Crude oil jumps on IEA supply shortfall warning

Oil prices rose, continuing the recent positive tone

Oil prices advanced, meaning they continued their recent positive tone, ahead of the industry’s data on weekly U.S. crude inventories as well as easing U.S. inflation. U.S. crude futures advanced 0.92% to $80.43 a barrel, while Brent futures advanced 0.52% to $84.63 a barrel. The American Petroleum Institute will release its weekly statistics on U.S. …

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