OPEC+ sources said that the group’s oil producers are considering reducing its output target at a meeting on October 5. They aim to reduce between 500,000 and 1M barrels per day (BPD) to stabilize the market. An OPEC source estimated the likely number was closer to 500,000 BPD earlier this week. However, a source familiar …
The oil price increased by around $2 per barrel on Tuesday from a nine-month low, helped by supply restraints in the American Gulf of Mexico ahead of Hurricane Ian and a weakening of the currency from its highest point in two decades. Analyst predictions of potential supply cutbacks from the Organization of the Petroleum Exporting …
Following a steep decline last week, oil prices remained close to eight-month lows on Monday as investors worried that a weakening global economy would reduce demand for petroleum. By 21:30 E.T., U.S. West Texas Intermediate futures were steady at $78.67 per barrel, and London-traded Brent oil futures were up 0.3% to $85.29 per barrel (01:30 …
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 …
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 …
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 …
The stocks market keeps losing high gains. Is bear still on? let’s overview today’s performance. European shares traded lower on Tuesday as global markets failed to consolidate gains after a bloody week last week. The pan-European Stoxx 600 was down 0.6% in early trade after giving back about 0.5% of its opening gain. Basic resources …
Global markets still struggle to regain their values. How have Forex, Stocks, Crypto, and Commodities performed this week? Our weekly overview will outline the markets’ weekly performance to help you determine future trends. Forex Weekly Overview The dollar was little changed against major currencies on Friday. Still, it was on track for its best performance …
Weekly Overview: Forex, Stocks, Crypto, Commodities Jul 1 Read More »
On Monday, natural gas prices declined as experts forecasted a slow rise in output, milder weather, and a drop in demand in the coming weeks. Futures tied to the commodity slashed 2.16% or 0.17 to $7.97 per MMBtu. It trailed a plunge of 10.21% to $7.96 per MMBtu last Friday. Accordingly, American data provider Refinitiv …
Natural gas ticks lower on slow output forecasts Read More »
The Thai baht and Malaysian ringgit led advances among developing Asian currencies on Thursday, as the dollar fell after the US Federal Reserve hiked rates by an expected 50 basis points but lowered its rate-hike forecast. The baht (THB=TH) rose 0.9 percent to its highest level since October 2021, followed by the ringgit (USDMYR) and …
Asia’s Exchange Markets on a Rise, Thai Baht Leads The Way Read More »
On Wednesday, oil prices ticked higher as the European Union, the world’s largest trading bloc, stated plans to phase out imports of Russian crude. Brent oil futures increased 3.57% or 3.77 points to $108.75 per barrel. The international benchmark completely reversed a downturn of 1.58% to $105.88 per barrel yesterday. US West Texas Intermediate added …
