BOE Report LONDON – Oil prices edged up on Monday in choppy trading as China’s continuation of loose monetary policy was partly offset by fears that high inflation and energy costs could drag the global economy into recession. Brent crude futures rose 53 cents, or 0.6%, to $92.16 a barrel by 1245 GMT, recovering from a 6.4% fall last
CNBC Oil rose Monday as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, de facto leader of the Organization of the Petroleum Exporting Countries (OPEC) last week raised the possibility of production cuts, which sources said could coincide with a boost in
CNBC Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil. Brent crude futures gained 2.7% to trade at $100.03 a barrel, while U.S. West Texas Intermediate crude futures advanced 3.2% to $94.87. “Natural gas and electricity prices
BOE Report Oil prices rose in early trade on Wednesday ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. West Texas Intermediate (WTI) crude futures rose $2.26, or 2.41%, to $96.06 a barrel. Brent crude futures were last up $2.24, or 2.24%, at $101.97 a barrel. The
CNBC Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike. Industry group the American Petroleum Institute said on Tuesday crude stocks fell by 4 million barrels, four times the forecast decline.
US News HOUSTON – Oil prices rose over 1% on Monday, bolstered by supply fears, a dip in the U.S. dollar and stronger equity markets, but prices seesawed as some worried rising U.S. interest rates would weaken fuel demand. Brent crude futures for September rose $1.30, or 1.2%, to $104.45 a barrel by 1:09 p.m. ET (1710 GMT), while U.S.
Reuters LONDON :Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S. central bank could raise interest rates less aggressively than anticipated. Brent crude futures for September delivery rose 76 cents, or 0.77per cent, to US$99.86 a barrel by 0929 GMT while
US News LONDON – Oil rose by more than $1 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank’s focus on curbing inflation was “unconditional”, adding to
Reuters LONDON: Oil hit its highest in seven weeks on Tuesday, supported by the European Union’s ongoing push for a ban on Russian oil imports that would tighten supply and as investors focused on higher demand from an easing of China’s COVID lockdowns. EU foreign ministers failed on Monday in their effort to pressure Hungary to lift its veto on
Investing LONDON – Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up $2.32, or 2.2%, at $109.77 a barrel at 1345 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed
Yahoo Finance Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars. Brent crude rose 46 cents, or 0.4%, to $107.97 a barrel by 11:44 a.m. EDT (1644 GMT). WTI crude rose $1.14, or 1.1 %, to $106.85. “The trading
Yahoo Finance LONDON -Oil rose on Monday in choppy trade, with Brent crude topping $113 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand. Adding to supply pressures from sanctions on Russia, Libya’s National Oil Corp on Monday warned “a painful wave of closures” had
