Tag Archives: Oil Prices

In their January 2023 Short-Term Energy Outlook, the official website of the governmental US Energy Information Administration (EIA), forecasts Brent crude oil price to rise from an average $81 per barrel recorded in December 2022 to average $83/b in the first quarter of 2023 (1Q23). The EIA also expects this …

The Canadian dollar weakened against its US counterpart on Tuesday, as it pulled back from a six-week high as investors await Thursday’s CPI data in the United States. The awaited reading could offer clues on the Fed’s policy intentions. The price of oil, one of Canada’s major exports, settled 0.7% …

Wall Street’s major indices closed higher on Friday, supported by reports that although jobs increased in the United States more than expected, wage increases slowed and services activity contracted, easing concerns about the path of interest rate hikes by the Federal Reserve. The data published by Automatic Data Processing (ADP) …

The recovery of USD/CAD has been suspended below 1.3610. The Canadian dollar is paring its losses on the back of a mild rebound in oil prices. In the same time, the lower US Treasury bonds are impacting the demand for the US dollar. The yield of the benchmark US 10-year …

The dollar fell against most currencies in volatile and weak trading on Friday after data indicated a slight slowdown in inflation in the United States, which boosted expectations of the Federal Reserve raising interest rates at lower rates and improved investors’ appetite for risk. The personal consumption expenditures price index …

Financial markets’ sentiment was still negative for most of the previous trading week amid accelerating recession-linked fears. This development, for sure, reinforced US Treasury bond yields but the US stock futures and equities in the Asia-Pacific region maintained mostly dull performance ahead of the final batch of data from the …

Crude prices edged lower on accelerating fears linked to global recession risks after another wave of central banks’ decisions regarding quantitative tightening. This is why oil’s latest rally faded as risk aversion grows wilder.The stronger US dollar makes oil more expensive for those using other currencies. Oil prices slid about …

The dollar rose against the euro on Friday after US producer price data for November came in slightly higher than expected, casting doubt on whether the Federal Reserve will slow down the pace of interest rate hikes at its meeting next week. The data showed US producer prices rose 0.3 …

Oil prices recovered in early Asian trade on Thursday after tumbling to their lowest level this year, as production and gasoline inventories rose in the United States as concerns grew that an economic slowdown could weaken demand for fuel. Brent crude futures rose $1 to $78.17 a barrel, by 0600 …

Oil futures witnessed little change in Asian trading on Wednesday, December 7th, as fears about the impact of the cap imposed by the West on the price of Russian oil were offset by hopes for an improvement in demand from China, which kept the markets in anticipation after a sharp …