Oil prices slid down further, having dipped in the past two days, and nearing their weekly low levels, stirring concerns of a coming recession and a decline in global oil requirements amidst surplus U.S. gasoline stocks. June Brent futures dropped 14 cents, representing a 0.22% decline, ending at $80.97 per barrel. June delivery of West …
The dollar breaks s first weekly gain. However, gains were pared by a soft economic report that suggested the economy was slowing. Japan’s consumer inflation rate remained consistent with the Bank of Japan’s target in March in the Asian region. The main index hit a four-decade peak, putting pressure on the Bank of Japan to …
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 …
Oil prices fell as potential U.S. interest rate hikes could slow growth Read More »
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 …
Dollar steadied after it seesawed with bond market volatility Read More »
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 …
India snapped up the vast majority of Russian oil Read More »
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 …
Dollar dropped on China’s better-than-expected growth forecast Read More »
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 …
Oil prices retreated after increasing for 2 sessions Read More »
The dollar fell to a two-month low after a report showed U.S. inflation eased slightly in March, raising hopes that the Federal Reserve’s rate hike campaign is either over or could be next month. Statistics released on Wednesday showed that consumer price index inflation edged closer to 5% in March from a year earlier, up …
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 …
Oil prices steadied as the market waited for U.S. inflation data Read More »
The dollar retreated against all major currencies except the yen as investors looked to release U.S. inflation statistics later in the day to gauge how soon U.S. interest rates will approach higher levels. The U.S. dollar index retreated by 0.072% to close at 102.06. The euro was last up 0.122% at $1.0927, while the sterling advanced …
The U.S. dollar paused after its best performance this month against major peers as a firm U.S. labor market underpinned a Federal Reserve rate hike in one month. The yen, which is highly sensitive to long-term U.S. bond yields, was able to pare back more than 1% of Monday’s decline as 10-year Treasury yields also …
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. …
Oil prices rose, continuing the recent positive tone Read More »
Oil prices advanced after three straight weeks of gains, as expected supply cuts from Saudi Arabia and other OPEC+ producers offset expectations of a slowdown in global growth that could drag back fuel demand. Crude oil prices rallied more than 6% last week after OPEC+ surprised the market with a new move to cut production …
The dollar held firm after Japan’s new central bank governor said in his first public remarks that it was important to maintain his predecessor’s policy direction by controlling the yield curve. The ten-year Treasury yield edged closer to the 3.415% mark in Friday’s retreating trade over the Easter holiday. Yields remained high at 3.39% at …
Russia exported a record amount of oil products in March as Moscow successfully developed alternative routes for its supply a month after Western sanctions came into force. Marine crude shipments in March 2023 totaled 3.12 million bpd, according to Kpler, up 31.2% year-on-year and slightly higher than the previous peak of 3.12 million bpd exported …
