BOE Report Oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening COVID-19 curbs in China. Brent crude futures fell 51 cents, or 0.5%, to $93.78 a barrel by 0033 GMT. U.S. West Texas Intermediate crude was at $88.66 a barrel,
Oil Price Oil prices will rise again to $100 per barrel faster than previously estimated, Morgan Stanley said on Thursday, lifting its price forecast for the first quarter of 2023 to $100 from $95 per barrel. “Brent will find its way to $100 per barrel quicker than we estimated before,” the investment bank said in a note carried by Reuters after
CNBC Oil prices edged up on Tuesday as expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday outweighed concerns about the global economy. Brent crude futures rose $1.80, or 2.03%, to $90.67 per barrel after gaining more than 4% in the previous session. U.S. crude futures rose by $1.66, or 1.98%, to $85.25
BOE Report Global oil prices may stay under $100 a barrel for the rest of the year as rate hikes from central banks have tightened credit and reduced investments in risk assets such as commodities, commodities trading major Trafigura said on Tuesday. “Given the macro headwinds, I think generally prices will struggle… despite imminent sanctions,” the trader’s chief economist
BOE Report Oil prices rose modestly in early trade on Monday after sliding to eight-month lows last week weighed down by a surging U.S. dollar and fears sharp interest rate hikes globally would spark a recession and hit fuel demand. The dollar index climbed to a fresh 20-year high on Monday, capping oil price gains. U.S. West Texas Intermediate (WTI)
BOE Report Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilization campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal. U.S. West Texas Intermediate (WTI) crude futures dropped $4.25, or 5.09%, to $79.29. Brent crude
US News LONDON – Oil prices eased on Tuesday, reversing earlier gains, as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week. Brent crude was down 62 cents, or 0.7%, to $93.38 a barrel at 1407 GMT, while WTI crude fell 30 cents, or 0.3%, to
CNBC Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand. Brent crude futures rose $1.42, or 1.5%, to $94.30 per barrel. U.S. West Texas Intermediate crude was up $1.37, or 1.6%, at $88.20 per barrel. Prices were little changed last
Investing LONDON -Oil prices rose on Thursday after Russia threatened to halt oil and gas exports to some buyers, although weighing on the market were concerns that China’s extension of COVID-19 lockdown measures would slow global economic activity and hit fuel demand. Brent crude futures were up 94 cents, or 1.1%, to $89.94 per barrel at 1410 GMT, after falling
US News Oil prices recovered slightly on Wednesday as data pointed to firm fuel demand in the United States, providing respite after a 5% drop a day earlier on fear of demand suffering from increased China COVID-19 curbs and central bank interest rate hikes. U.S. West Texas Intermediate (WTI) crude futures jumped 85 cents, or 0.9%, to $92.49 a
BOE Report Oil prices were slightly down on Friday, but are seeing signs of improving fuel demand, although further gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in a speech later in the day. U.S. West Texas Intermediate (WTI) crude futures dropped 97 cents, or 1.04%, to
US News Oil prices rose on Friday, recouping some of this week’s losses on strong U.S. job growth data but remained on course to close the week near their lowest levels since February, rattled by worries a recession could hit fuel demand. Brent crude rose $1.46, or 1.6%, to $95.58 a barrel by 11:56 a.m. EDT (1556 GMT). U.S.
