Oil prices retreated for a fourth session, heading for their widest weekly loss in five weeks on fears the prospect of a big US interest rate hike would dampen demand for the fuel. Brent was down 63 cents, or 0.83%, at $80.97 a barrel by 1140 GMT. The price of US WTI crude fell by …
The dollar index was steady, while the yen weakened after the Bank of Japan held its stimulus parameters steady. The dollar rose sharply by 0.64% in comparison to the yen upon the decision by the Bank of Japan to retain its policy at the last conference held by the governor. After the decision, the dollar/yen’s sharp …
Oil fell earlier in the week after China set a modest increase target for this year and avoided any major stimulus. At the same time, there were concerns about further monetary tightening by the Federal Reserve. West Texas Intermediate saw a decrease to $79 a barrel after witnessing a 5% increase in closing last week. …
After staying at the same level for three months, the dollar reacted to Federal Reserve Chairman Jerome Powell’s message that interest rates may be increased quicker than previously thought. Yuan has experienced significant weakening as a result of unanticipated low inflation by the government. At the convention’s second day of testimony, Powel reaffirmed his statement …
The leaders of the OPEC + coalition, Russia and Saudi Arabia, agreed to continue close cooperation in oil policy in the group during the visit of the Saudi foreign minister to Moscow. All countries participating in this format are scrupulously fulfilling their obligations to maintain their proper place and stability in the global energy market. …
Russia and Saudi Arabia continue cooperation in oil policy Read More »
Oil prices fell as a stronger dollar and weak oil data from top oil importer China reversed momentum after a five-day rally. Brent oil crude futures were down 41 cents, or 0.49%, at $85.78 a barrel by 1250 GMT. The price of WTI oil fell by 40 cents, or 0.55%, and amounted to 80.07 USD. …
Oil prices reverse momentum after five-day rally Read More »
Global shares fell, and the dollar rose ahead of testimony from Federal Reserve Chairman Jerome Powell, who is expected to offer an outlook for US rates, while weak Chinese trade data further weighed on oil and copper. Statistics demonstrated a steep decrease in both China’s exports and imports in the first two months of the …
Global shares fall as dollar rises ahead of Fed Powell’s testimony Read More »
The euro dropped versus the dollar after posting its biggest one-day gain in a month following the release of new eurozone inflation statistics. On Wednesday, the euro rose by 0.93% against the dollar, the highest daily rise it has experienced in a month. This uptick was propelled by higher-than-expected German inflation figures for February. These …
Oil fell, paring earlier gains, as signs of heavy supply, and a rise in U.S. crude inventories countered expectations of higher demand from China. The American Petroleum Institute reported that U.S. crude stockpiles increased by 6.3 million barrels in the week concluding on Feb. 24, preceding the Energy Information Administration’s official supply data. Brent crude …
Oil prices fall, despite signs of improved China demand Read More »
The dollar fell, and the Chinese yuan gained, while the euro rose after German inflation data suggested price pressures remained high. The New Zealand and Australian dollars were among the legatees of strong data from China, which beat expectations when the official manufacturing purchasing managers’ index rose to 52.7 last month from 50.2 in January. China’s …
The dollar takes a hit as chinese yuan gains strength Read More »
US oil prices have risen, receiving support from the hope that a solid economic removal in China will promote fuel demand, which influences US interest rates in the world’s largest economy. Brent futures increased by 87 cents on Tuesday due to Tuesday’s exhaustion, and the barrel was up to $83.33. More active can reach a …
On Tuesday, the US dollar resumed its upward trend, reclaiming its first monthly increase since September with increased value against the pound and euro from the day before. The dollar index was flat at 104.63, still up 2.62% from February; its first monthly increase since September. Investors now expect federal funds to exceed 5.43% in …
Oil extended its longest losing streak this year ahead of the release of Federal Reserve, which could provide further clues on monetary tightening in the U.S. West Texas Intermediate fell to $75 a barrel after falling for a fifth straight session. The prospect of more aggressive interest rate hikes from the Fed to tame inflation …
Oil prices were lower, although the decline was limited due to worries about Russia‘s exports to Poland through the major pipeline. Benchmark Brent crude futures fell 25 cents, or 0.32%, to $82.92 a barrel, while US WTI decreased 19 cents, or 0.23%, to $76.14. At the close of the day, both indices were over 90 …
The dollar traded at seven–week highs last week as investors took advantage of strong economic data and quick revisions. On Friday, the data showed that US consumer costs were sharply shaken in January and inflation accelerated. Traders now expect summer interest rates to be around 5.42%, compared to the 4.92% they considered in early February. …
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