Tag Archives: recession fears

The WTI crude oil drops from daily highs of $86.40s to $82.20s on Tuesday. Chinese economic indicators remain delayed, with no rescheduling assigned by the government. The US will release oil from its SPR reserve to keep gasoline prices down.The US crude oil declined more than 3% on Tuesday amidst …

Caution prevailed on Tuesday, with the focus still on a potential global recession. The dollar maintained its dominance despite a short-lived knee-jerk at the beginning of the American session.Wall Street closed mixed, with the DJIA posting substantial gains, the S&P 500 modestly up, and the Nasdaq Composite shedding some ground.Economic …

Western Texas Intermediate crude oil has dropped from 1% to 3%, extending its losses to three consecutive days. Mixed US data and weaker Industrial Production as well as Retail Sales from China keep producers uncertain of total oil requirements. The Iran nuclear deal agreement would free additional crude to the …

At its July 5 monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to raise the official cash rate (OCR) by 50 basis points (bps) from 0.85% to 1.35%, as widely expected. A Reuters poll of 33 economists showed the RBA will increase its cash rate by …

The Reserve Bank of Australia is expected to decide an additional increase the national interest rate amid accelerating recession-linked concerns. The RBA will have July’s monetary policy meeting on Tuesday amid expectations of interest rate hike for the third successive time. RBA policymakers indicated that a 0.25 or a 0.5 …

Crude oil prices are retreating after reaching fresh three-month highs. The West Texas Intermediate crude hit an intraday high of $123.66, and now is trading at around $119.38. The initial price rally came after the OPEC+ reported that it produced a total of 28.5 million barrels per day in May, …