Asian stocks rose on optimism China was poised to announce stimulus measures after comments from Federal Reserve policymakers hinting at further easing spurred gains overnight. Equity benchmarks in Japan gained more than 1% as local markets reopened after a holiday. Shares in South Korea advanced and Hong Kong futures pointed to an increase of at … Read more
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation data that investors hope will pave the way for rate cuts in the United States and Europe. Oil prices climbed 0.7% after Israel and Hezabollah traded rocket salvos and air strikes on Sunday, stirring worries … Read more
Dr Fereidun Fesharaki, Founder & Chairman, FGE, says the long-term oil price will be about $70 a barrel in real terms and this view holds for the next 20 years. Increasing carbon costs are supporting crude prices. But we do not see the prices going below $70, we do not see a $40, $50, $30 … Read more
Demand worries amid economic recession fears dragged down oil prices, but losses were limited due to the potential loss of supplies from the Middle East and an unexpected drawdown in US crude inventories.The Asian benchmark Brent crude dropped to a low of $75.05 a barrel last week, its lowest level since January. A similar selloff … Read more
Oil prices held steady on Friday but remained on course for a fourth successive weekly decline as signs of weak growth in global fuel demand outweighed fears of supply disruption in the Middle East. Brent crude futures LCOc1 were up 18 cents, or 0.2 per cent, at $79.70 a barrel by 1040 GMT. U.S. West … Read more
Oil prices rose on Friday but were set for a fourth weekly decline as signs of disappointing global fuel demand growth outweighed fears of supply disruptions in the key Middle East production region. Brent crude futures gained 33 cents, or 0.4%, to $79.85 a barrel by 0020 GMT, after falling 1.5% in the previous session, … Read more
Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb. Brent crude futures for September rose 46 cents to $81.47 a barrel by 0020 GMT. U.S. West Texas Intermediate crude for September … Read more
Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks further weighed on the market. Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT, and … Read more
Oil prices were in a holding pattern in early Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year. The Brent crude July contract inched up 11 cents to $82.23 a barrel by 0036 GMT. The … Read more
Oil prices dropped to a near two-month low on receding tensions in the Middle East, a complex interplay of escalating supply levels, demand worries, and challenging economic indicators. The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar … Read more
