Yahoo Finance LONDON -Oil prices sank to their lowest since late March on Tuesday on weak economic data from China, expectations of interest rate hikes by the U.S. Federal Reserve and European Central Bank (ECB) this week, and concerns about ample supply. Brent crude fell $2.41, or 3.04%, to $76.90 a barrel by 1404 GMT while U.S. West Texas Intermediate
BOE Report Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil demand. U.S. West Texas Intermediate slid 14 cents, or 0.17%, to $83.09. Brent crude fell 11 cents, or 0.13%, to $87.07 a barrel. Both benchmarks rose 2% on Wednesday to their highest in
BOE Report Oil prices extended losses on Friday on worries about a potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years. U.S. West Texas Intermediate crude futures slipped $1.65, or 2.38%, to $67.71 a barrel. Brent crude fell $2.31, or 3.06%, to $73.29 a barrel. Bothenchmarks, which fell about
BOE Report Oil prices fell on Tuesday, reversing the previous day’s gain, as fears that a global economic slowdown, and drop in fuel demand, amid aggressive interest rate hikes by the U.S. central bank prompted investors to take profits. Traders are awaiting the minutes of the latest Federal Reserve meeting, due on Wednesday, as data on core inflation has
CNBC Oil prices fell on Friday in a volatile session, after strong U.S. jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products. Brent crude futures fell $1.98, or 2.4%, to $80.19 a barrel by 12:11 p.m. EST (1711 GMT), after rising to a session high of
CNBC Oil prices extended losses on Monday as looming increases to interest rates by major central banks and signs of strong Russian exports offset rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. Investors expect the U.S. Federal Reserve to raise rates by 25 basis points on Wednesday, followed the day after by half-point
BOE Report Oil futures fell on Monday, with WTI hitting an 11-month low, as protests in top importer China over strict COVID-19 curbs fuelled demand concerns. U.S. West Texas Intermediate (WTI) crude slid $1.80, or 2.35%, to $74.71 a barrel. It fell as far as $73.82 earlier — its lowest since Dec. 27, 2021. Brent crude dropped $1.90, or
Yahoo Finance NEW YORK – Oil slid about 1% on Thursday as an increase in U.S. interest rates pushed up the dollar and heightened fears of a global recession that would crimp fuel demand. Losses, however, were limited by concern over tight supply. Brent futures fell 90 cents, or 0.9%, to $95.26 a barrel by 11:37 a.m. EDT (1537
BOE Report LONDON – Oil prices fell on Friday after top crude importer China widened its COVID-19 curbs, though benchmarks were poised for a weekly gain on supply concerns and surprisingly positive economic data. Brent crude futures dropped 87 cents, or 0.9%, to $96.09 a barrel by 1309 GMT, having climbed by 1.3% in the previous session. U.S. West Texas
CNBC Oil slid on Tuesday, extending losses of nearly 2% in the previous session, as recession fears and a flare-up in Covid-19 cases in China raised concern over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said that inflation remains a
Reuters LONDON – Oil fell by more than 2% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline. Central banks around the world are certain to increase borrowing costs to tame high inflation this week and there is some risk of
BOE Report Oil prices fell on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes spurred worries of a global economic recession and lower fuel demand. U.S. West Texas Intermediate crude futures shed $3.63, or 4.18%, to $83.37. The benchmark fell to its lowest session
