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 …
The U.S. dollar advanced in early European trade, with safe-haven demand amid ongoing banking volatility and ahead of a Federal Reserve policy meeting scheduled for this week. The dollar index traded up 0.1% at 103.470. The dollar decreased in value during the night following the revelation of emergency liquidity actions by prominent central banks in …
The U.S. Dollar Edged Higher and What is the Reason Read More »
Oil prices were firm on Friday after a meeting between Saudi Arabia, and Russia cheered markets amid expectations of stronger Chinese demand. Still, it edged toward its biggest weekly decline since December as the banking crisis rattled global financial and oil markets. Brent crude futures were up $1.12 at $75.78 a barrel, up 1.5% on …
Oil prices firm despite banking crisis: OPEC+ meeting in focus Read More »
The dollar edged lower after major U.S. energy brokers, including the government and banks, dumped a key stake in regional lender First Republic Bank, restoring some confidence to investors. Thursday’s rescue of the First Republic lifted global risk levels on Friday as worries about global banks eased, paving the way for gains in the Australian …
Oil prices extended losses, trading near monthly lows in more than a year after the European Central Bank raised interest rates and tensions over the global banking crisis weighed on the outlook for demand. Brent crude oil futures were down $1.15, or 1.6%, at $72.54 a barrel. West Texas Intermediate crude futures were down $1.27, …
The euro advanced slightly, with small gains after the European Central Bank took steps to raise interest rates. However, the rate path in the coming period would depend on incoming statistics. The ECB had been increasing rates rapidly to tackle high inflation. However, the sudden failure of the Silicon Valley Bank in the US has …
The dollar advanced in early trade as the market turned its view on possible moves in US interest rates on Tuesday amid February inflation statistics. The US consumer price index retreated to 6%. Still, key parts of the report showed negative price increases quickly, showing the Federal Reserve’s lack of room to manoeuvre in response …
US interest rates and February inflation statistics boosted dollar Read More »
Oil extended its slide on Wednesday, falling 3.9% to its lowest level over a year as jitters over Credit Suisse rattled global markets and overshadowed expectations of a recovery in Chinese oil demand. After Credit Suisse’s largest investor announced that they would not be able to offer additional support to assist the Swiss bank in …
The dollar rose steadily after falling after the Silicon Valley Bank closed on Monday. Consumer Price Index readings can potentially cause further volatility on a global scale. Traders quickly downgraded their forecasts for a rate hike by the Federal Reserve. The euro is down 0.1% at $1.073 in recent weeks as the dollar moves higher. …
OPEC further raised its forecast for China’s oil demand growth in 2023 as the country’s COVID-19 restrictions ease, though it left the global total steady, citing possible risks to world growth. World oil demand will rise by 2.34 million barrels per day, or 2.4%, in 2023, the Organization of the Petroleum Exporting Countries said. This …
Oil retreated by $4, along with stocks, as the collapse of Silicon Valley Bank increased fears of a new financial crisis. Brent crude futures fell $3.97, or 4.9%, to settle below $78.83 a barrel. West Texas Intermediate U.S. crude oil futures fell $3.87, or 5%, to settle at $72.83 a barrel. Brent hit its lowest …
Emerging market currencies edged higher after a sharp drop in the dollar amid increased bets that the US Federal Reserve will immediately pause its aggressive monetary policy following the collapse of Silicon Valley Bank. MSCI’s gauge of emerging market currencies rose 0.6%, hitting a one-month high earlier in the day. The dollar index retreated sharply …
Emerging market currencies edge higher after SVB collapse Read More »
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. …
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