Oil prices rose more than 2 percent on Wednesday after Russian President Vladimir Putin announced a partial military mobilization that escalated Ukraine’s civil war and raised concerns about falling oil and gas supplies. After losing $1.38 the day before, Brent oil futures increased $2.28, or 2.5%, to $92.90 a barrel at 0707 GMT. U.S. West …
In addition to indicators of a probable rise in gasoline stocks in the United States, traders were concerned that the Federal Reserve’s widely anticipated interest rate hike would put further pressure on crude demand, contributing to the oil prices’ continued declines on Wednesday. By 20:37 ET, U.S. crude West Texas Intermediate futures were down 0.2% …
Tuesday saw a slight increase in oil prices as OPEC+ continued to produce less than their quotas. However, prices were still on track to decline for a fourth consecutive month due to expectations of another increase in U.S. interest rates, which could slow economic growth and fuel demand. At 0939 GMT, the price of Brent …
The price of oil rose on Monday. Meanwhile, supply worries ahead of the EU’s oil embargo on Russia in December outweighed worries about a global recession that could dampen gasoline demand. Brent futures rose 0.5 percent on Friday and then gained 60 cents, or 0.7 percent, to $91.95 a barrel by 0330 GMT. U.S. WTI …
Despite a little increase on Friday, oil prices continued to drop for the week due to concerns over sudden interest rate increases that would hurt the global economy and fuel consumption. As of 03:15 GMT, Brent oil futures were up 24 cents, or 0.3%, to $91.08 a barrel. Still, it had lost 1.9% of its …
On Thursday, the attention shifted away from potential supply disruption and toward weak demand worries about a significant build-up in crude inventories in the US and a strong currency. As a result, oil prices began to drift lower. By 0636 GMT, the benchmark Brent crude futures contract had lost 23 cents, or 0.2%, of its …
Since the start of the Ukraine War, energy has been a major concern in the EU. While the sanctions have halted Russia to a degree, a lot of Europe is still dependent on its energy exports. In a recent push, Europe has decided to stop using Russian gas, but that’s caused further issues. The timing …
Although there was some volatility in oil prices on Friday as investors processed an unexpected increase in U.S. crude stocks, substantial weekly losses were predicted due to worries that demand will be negatively impacted by slowing global economic growth. Brent oil futures on the London market increased 0.4% to $88.88 a barrel, while U.S. By …
Oil prices increased on Wednesday as a result of Russian threats to break its energy supply agreements. This reversed previous session losses when prices plunged to their lowest levels since Russia invaded Ukraine. Following a low of $91.20 on February 18th, Brent oil futures were up 85 cents, or 0.92%, at $93.68 a barrel …
How Will Putin’s Supply Halt Threats Impact Europe? Read More »
On Monday, oil prices increased by more than $2 a barrel as investors anticipated potential actions by OPEC+ producers to reduce output and boost prices at a meeting later in the day. After climbing 0.7% on Friday, Brent oil futures increased by $2.43, or 2.6%, to $95.45 a barrel at 0850 GMT. After rising …
According to the Saudi energy minister, OPEC+ dealt with challenges. It trimmed production, state news agency SPA stated on Monday, noting Abdulaziz bin Salman’s comments in a Bloomberg interview. Brent crude rose by $1.32, or 1.4%. It was $97.80 a barrel by 1110 GMT. U.S. WTI crude climbed $1.65, or 1.8%, to $92.01. According to …
Brent crude futures dropped $3.49, or 3.56%, to $94.66 a barrel by 0945 GMT after settling 1.5% weaker on Friday. U.S. WTI crude fell $3.32, or 3.61%, at $88.77, following a 2.4% drop in the prior session. China’s economy unexpectedly stalled in July. Meanwhile, according to government data, refinery production fell to 12.53M BPD, its …
Oil Declines Following Disappointing Chinese Data Read More »
In times of economic uncertainty, many investors turn to commodities as a safe haven. But what are commodities, and how can you invest in them? Commodities are natural resources like oil, gold, and agriculture. They are essential inputs in many industries, and their prices can be volatile. Investing in commodities can be a risky proposition, …
Commodities tumbled from record highs as investors reversed bullish bets on everything from corn to copper to oil amid recent signs of recession fears sweeping financial markets. Brent crude fell below $100 a barrel on Thursday for the first time since April, 29% below its recent high. Other markets were also hit hard, with the …
Commodity Market Overview: Will Oil Prices Keep Surging? Read More »
On Wednesday, gold prices clawed back from a three-month low as the greenback and US treasuries declined, ahead of key American inflation data. Bullion futures for June 22 bounced up 0.49% or 9.10 points to $1,850.20 per ounce. This movement came after a drop of 0.20% to $1,836.50 per ounce in the early trading session. …
