Oil prices climbed for a second consecutive day on Thursday, driven by optimism surrounding the anticipated uptick in demand in the United States, the world’s largest oil consumer. This optimism stems from expectations of refineries’ efforts to resume operations following recent outages, coupled with the weakening of the dollar. At 0740 GMT, Brent crude futures […]
NEW YORK (Reuters) -Oil prices gained about 2% on Friday as Iraq voiced support for OPEC+’s oil cuts ahead of a meeting in two weeks and as some speculators covered massive short positions ahead of weekend uncertainty. Still, prices settled with weekly losses of 4%, their third straight weekly decline. “This was the perfect technical […]
Crude dives for second-weekly loss as Middle East risk premium deflates The two crude benchmarks fell 4% and 6% respectively, marking their second consecutive week in red, after a lack of escalation in the Israel-Hamas war eased worries about a disruption to supplies in the Middle East. Israel was still carrying out a major ground […]
Gold prices stayed close to the $2,000 mark today, buoyed by investors seeking safe-haven assets due to the ongoing conflict in the Middle East and ahead of the U.S. Federal Reserve’s policy meeting this week. Despite Israeli forces attacking Gaza’s main northern city, spot gold experienced a minor dip of 0.4% to $1,998.39 per ounce. On the […]
Investing.com– Gold prices firmed in Asian trade on Thursday, with futures testing key levels as demand for traditional safe havens helped the yellow metal largely disregard a resurgence in the dollar and yields. Fears of a potential escalation in the Israel-Hamas war remained in play as missile strikes on Gaza continued, while Israel reiterated its […]
LONDON (Reuters) – Oil prices dipped on Tuesday following the previous session’s slump, while a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture that could weigh on oil demand. Moving between positive and negative territory in the session, Brent crude futures were down 47 cents, or 0.5%, at $89.38 […]
SYDNEY (Reuters) – Asian shares fell after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. The euro was supported by a hawkish shift in expectations for the European Central Bank on Thursday, with […]
SINGAPORE (Reuters) -Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further U.S. interest rate hikes that could dampen fuel demand. Brent crude fell 8 cents, or 0.1%, to $84.40 a barrel by 0330 GMT, while U.S. West Texas Intermediate crude […]
OSLO (Reuters) – Norwegian oil and gas companies plan to invest more in 2023 and 2024 than previously thought, driven mainly by rising activity as well as cost inflation from a weaker crown currency, a national statistics office (SSB) survey showed on Thursday. The country’s biggest business sector now expects to invest 213 billion Norwegian […]
LONDON (Reuters) – China’s largest private copper producer Nanfang Nonferrous is due to bring a major new smelter to production by October, more than doubling its capacity, a few months ahead of expectations, four sources with direct knowledge of the matter told Reuters. Used for wiring in electric vehicles, copper is a key plank of the energy […]