Oil advanced for a third session as a pause in some exports from Iraqi Kurdistan fueled fears of a tightening supply and, as fears of a global banking crisis faded, supported challenges in broader markets. The Iraqi government in Baghdad has halted the export of 450,000 barrels of oil per day from the semi-independent Kurdistan …
The dollar held steady against most major peers, ending a recent slide, and also gained sharply against the yen, which has been volatile as Japan’s fiscal year-end approaches. The dollar index was steady at 102.43, giving back a small gain to 0.32% in Europe. It has declined over the past two sessions, falling 2.12% month-on-month, …
The U.S. dollar retreated slightly as fears of full-scale banking instability dampened demand for the so-called on-protected shelter assets. The yen advanced, despite also being traditionally a haven, with analysts pointing to higher flows ahead of the end of Japan’s fiscal year. The dollar retreated to 130.52 yen and was last down 0.38% at 102.49 …
Currency markets react to banking instability fears Read More »
Oil held its highs as tensions between Iraq and the Kurdistan region halted exports, while expectations for the fallout from the banking crisis dampened. West Texas Intermediate futures climbed to nearly $73 per barrel on Monday, following a 4.8% surge after recently dipping. A legal disagreement between Iraq, Kurdistan and Turkey has halted the production …
Oil prices remain high as Iraq-Kurdistan tensions halt exports Read More »
Oil prices advanced as investors weighed efforts by authorities to contain fears about the global banking system. At the same time, the Russian president’s plans to deploy tactical nuclear weapons in Belarus raised tensions in Europe. Brent crude oil futures rose $1.13, or 1.49%, to $76.12 a barrel. West Texas Intermediate American crude oil advanced …
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The dollar was steady, and the yen retreated from a seven-week high as investors assessed the actions of authorities and regulators to contain the crisis in the global banking system. The dollar index retreated 0.08% to 103.02, advancing 0.6% on Friday amid worries in the European banking sector. On Monday, the Federal Deposit Insurance Corp. …
Steady dollar and retreating yen amidst regulatory actions Read More »
Oil prices fell sharply amid lower European bank stocks and after the U.S. Energy Secretary said it could take several years to replenish the country’s strategic oil reserve, dampening the outlook for demand. The price of Brent crude decreased by $1.56 (or 2.3%) yesterday. At the same time, WTI U.S. crude futures dropped $1.49, dropping …
Market assumptions have shifted sharply. At the same time, the dollar‘s downward momentum has paused, implying that the US-backed currency may be regaining some of the strength it lost recently as interest rates moved. The euro has moved to $1.092 twice in the past two days but has stalled. Similarly, the sterling advanced to $1.24 …
Dollar gains momentum as euro and sterling stall Read More »
Oil prices were relatively stable after the U.S. dollar retreated ahead of the U.S. Federal Reserve’s crucial interest rate decision. Brent crude futures saw a 3% increase this week, rising to a total of 18 cents, or 0.25%, to hit $75.52 per barrel. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.25%, to …
The dollar fell to a five-week low ahead of the U.S. Federal Reserve’s policy meeting as investors await the central bank’s path amid global banking volatility. Investors are interested in whether the Fed will continue fighting sticky inflation or pause interest rate hikes amid recent challenges among banks, including bankruptcies and last-minute bailouts. The U.S. …
The dollar ended its longest losing streak 2-1/2 years after the Federal Reserve paused interest rate hikes. Meanwhile, the Swiss franc strengthened following the central bank’s additional increase. The Federal Reserve raised the benchmark funds rate by 25 basis points as widely expected but held back on the current hike needed in favor of some …
Oil prices retreated, halting a three-day rally, after a surprise rise in U.S. crude inventories and as the Federal Reserve underscored the dangers of a global hike. U.S. crude futures were trading 0.22% lower at $70.76 a barrel, while the Brent contract was back 0.22% at $76.56. Benchmarks posted gains in the first three days of …
The dollar retreated, and the sterling held steady. Traders said the banking crisis could put the Federal Reserve and Bank of England on hold from raising rates. Investors’ attention shifted to central bank meetings due this week after volatility in markets caused by the lack of stability in the worldwide banking sector. The Swiss franc …
Oil prices advanced from 15-month lows earlier in the day as Credit Suisse’s bailout eased fears of global banking sector turmoil that could weigh on economic growth and fuel demand. After initial volatility on Monday, sentiment in financial markets increased following UBS’s takeover of Credit Suisse. Brent oil prices advanced by 52 cents, or 0.72%, …
Oil prices rise as Credit Suisse bailout eases fears Read More »
Brent crude oil fell below $72 a barrel in domestic trade amid volatility in the banking sector. The Brent contract for May delivery was trading at $71.65 a barrel, down $1.33 from Friday’s close. WTI Nymex was 65.52 dollars per barrel in April, 1.23 less than the previous settlement. Oil prices have come under pressure …
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