(Investing) – Oil futures dropped from their highest levels in weeks on Monday, pressured by weakness in consumer spending in China, the world’s largest oil importer. Brent crude futures fell 32 cents, or 0.4%, to $74.17 a barrel by 1300 GMT after settling on Friday at their highest since Nov. 22. U.S. West Texas Intermediate crude dropped by 27 cents, or
Investing Oil prices held steady on Tuesday in choppy trade as the focus turned to the U.S. Federal Reserve’s policy meeting that concludes on Wednesday, while fears of weaker demand in China curbed gains. Prices saw some support from prospects of lower U.S. crude stockpiles and concerns over U.S. production in the aftermath of Hurricane Francine. Brent crude futures for November were up
Reuters LONDON :Oil prices crept up on Thursday, clawing back some of the previous three days’ losses despite the U.S. Federal Reserve entertaining further tightening of interest rates if inflation remains sticky, a move that could hurt oil demand. Brent crude futures were up 51 cents, or 0.6 per cent, at $82.41 a barrel by 1121 GMT. U.S. West Texas
CNBC Oil prices edged lower on Friday, and were on course for their steepest weekly loss in three months, as investors weighed weaker-than-expected U.S. jobs data and the timing of a Federal Reserve interest rate cut. Brent crude futures for July were down 71 cents, or 0.85%, to settle at $82.96 a barrel. U.S. West Texas Intermediate crude for June
Oil Price The US Federal Reserve has blocked an attempt led by the European Central Bank (ECB) to make climate risks a pillar of global rules for banks and require them to report their strategies on meeting climate commitments, sources with knowledge of the matter have told Bloomberg. Some members of the Basel Committee on Banking Supervision (BCBS), which includes central
CNBC Several OPEC+ members are set to tighten global production by an additional 1.16 million barrels per day until the end of the year, further burdening central bank efforts to curtail global inflation — but critically protecting the alliance’s broader output strategy from political pressures. Washington has stepped in to criticize Sunday’s announcement where eight OPEC+ producers — including group
Oil Price Traders expect the Federal Reserve to end its rate hikes in two months, which could push oil prices higher due to the generally inverse relationship between rates and oil prices. According to a Reuters report, the Fed might end its rate-hike policy as soon as March, as economic indicators suggest inflation is slowing down and getting under control.
Oil Price The Bank of America has predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and a “successful” economic reopening by China, Reuters reports. BofA has forecast that Brent prices–currently trading at $76.73–will average $100/bbl in 2023 thanks to Chinese oil demand recovery on a post-COVID reopening
CNBC Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements but said the labor market in particular is still well below where it was before the Covid-19 pandemic hit. Powell
CNBC The Federal Reserve is facing a big summer ahead as markets look for clues about when the ultra-easy policy measures put in place during the pandemic might finally start to unwind. Investors got their first indication this week when minutes from the central bank’s last policy meeting featured a discussion in which some members said it would be time soon to
CNBC The Federal Reserve on Wednesday declined to let up on its easy-money policy despite an economy that it acknowledged is accelerating. As expected, the U.S. central bank decided to keep short-term interest rates anchored near zero as it buys at least $120 billion of bonds each month. The latter part of policy is a two-pronged effort to support an
CNBC Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell has reaffirmed the central bank’s commitment to keep loose monetary policy in place. That includes a statement of near-certainty that interest rates won’t be going anywhere as inflation remains tame and millions of Americans remain in need of assistance as the nation rebuilds from the
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
