Tag Archives: crude oil prices

Oil prices fell on Monday amid concerns about the economic impact of a possible interest rate hike by the Federal Reserve and weak Chinese manufacturing data, which are enough to offset the supportive impact on oil prices of the new OPEC+ production cuts that took effect this month. The Federal …

Oil prices dipped on Monday as investors worried about the possibility of the Federal Reserve raising interest rates, which would impede growth and reduce gasoline demand, and concerns over lower Chinese manufacturing data combined to wipe out previous gains. Brent futures for July delivery were down 61 cents, or 0.8%, …

Oil prices are set to record another monthly decline on Friday after disappointing US economic data and uncertainty about an interest rate hike affected demand expectations. By 0946 GMT, Brent crude futures for June delivery were up 42 cents, or 0.5 percent, at $78.79 a barrel. These contracts expire on …

Oil prices stabilized on Thursday, after Wednesday’s decline reflected the supportive impact of a sudden production cut by the Organization of the Petroleum Exporting Countries this month. By 1033 GMT, Brent crude was trading at $77.72 a barrel, up three cents, or 0.04 percent. US West Texas Intermediate crude also …

Oil prices rose on Thursday, recouping earlier losses fueled by fears of a recession in the US and increased Russian oil exports offsetting the impact of OPEC production cuts. By 0039 GMT, Brent crude was trading at $78.04 a barrel, up 35 cents, or 0.45 percent. US West Texas Intermediate …

Oil prices rose and were on track for a third day of gains on Tuesday, supported by investor optimism that holiday travel in China will boost fuel demand and expectations of lower US crude inventories. Overseas flight bookings in China during the upcoming Labor Day holiday indicate a continued recovery …

WTI crude increased on expectations of greater fuel consumption during the busy holiday travel season in China. The anticipated production cuts by the OPEC+ producing group may make the oil market more competitive.WTI crude oil prices increased further during the middle of Monday’s US trading session, reaching $78.78 per barrel …

Gold prices recorded their highest levels since March 2022 on Wednesday, as they continued to rise after weak US economic data reinforced bets on slowing the pace of raising US interest rates. Spot gold rose 0.1% to $2,021.97 an ounce by 0925 GMT, while US gold futures settled at $2,038.70. …

Gold price jumped above $2,020, reaching the highest level since March of last year. However, analysts and economists believe that the precious metal could correct lower if higher crude oil price sparks the existing inflation fears.Gold’s strength was by no means intuitive: after all, the significant rise in the oil …

Oil prices rose nearly 1 percent on Friday after a meeting between Saudi Arabia and Russia calmed markets amid expectations of strong demand in China, after a banking crisis led to heavy selling in global financial and oil markets this week. By 0400 GMT, Brent crude futures rose 81 cents …