Oil prices declined in early Asian trading on Monday, influenced by concerns over weaker demand in China, the world’s largest oil importer. Market sentiment was also affected by investor attention on the progress of ceasefire talks in the Middle East, which could potentially lower supply risks. By 0032 GMT, Brent crude futures fell by 13 … Read more
Wall Street’s major indexes climbed roughly 1% following July’s retail sales data, which suggested strong consumer spending and eased concerns about a possible imminent recession in the world’s largest economy, on Thursday. At 9:35 a.m. ET, the Dow Jones Industrial Average rose by 503.66 points, or 1.26 per cent, reaching 40,512.05. The S&P 500 increased … Read more
Oil prices dropped by over $1 per barrel on Monday following statements from Israeli officials who expressed a desire to prevent a full-scale conflict in the Middle East while addressing a lethal rocket attack in the Israeli-occupied Golan Heights over the weekend. By 11:17 a.m. EDT (1517 GMT), Brent futures for September delivery had fallen … Read more
Oil prices declined on Monday following President Joe Biden’s announcement that he would not pursue a second term, while investors speculated about potential U.S. interest rate cuts as early as September. By 1327 GMT, Brent crude futures had decreased by 68 cents, or 0.82%, to $81.95 per barrel. U.S. West Texas Intermediate crude futures dropped … Read more
Oil prices stabilized on Wednesday as the Organization of the Petroleum Exporting Countries (OPEC) maintained its growth forecast for oil demand for this year and next, while U.S. crude and gasoline inventories likely decreased last week. At 1312 GMT, Brent futures rose by 1 cent, or 0.01%, to $84.67 a barrel, following a 1.3% decline … Read more
Oil prices dipped on Monday after four weeks of gains, as concerns over supply disruptions eased amid hopes for a ceasefire deal in Gaza. However, the potential impact of Hurricane Beryl on supplies limited the decline. By 12:30 GMT, Brent crude futures had fallen 42 cents, or 0.5%, to $86.12 a barrel. U.S. West Texas … Read more
Oil prices remained steady on Tuesday as traders awaited signs of increased summer demand that could support prices, despite concerns about ample supply potentially limiting gains. Benchmark Brent crude futures were unchanged at $84.23 per barrel at 1231 GMT, following an increase in the previous session. Meanwhile, U.S. West Texas Intermediate crude futures, which also … Read more
Oil prices continued their upward trajectory amid investor apprehensions regarding potential disruptions in supply due to escalating geopolitical tensions, on Wednesday. However, some of these concerns were mitigated by an unexpected increase in U.S. crude oil inventories. Brent crude futures climbed by 84 cents, representing a 0.9% increase, reaching $89.76 per barrel by 11:38 a.m. … Read more