Oil edged up on Wednesday, a day after prices fell through $100 a barrel for the first time since April, but gains were limited by caution ahead of U.S. inflation data that could weaken the market. Brent crude futures were up 45 cents, or 0.5 percent, at $99.97 a barrel. U.S. West Texas Intermediate crude…
Gold price fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept haven bullion above the key support level of $1,800 an ounce. Spot gold was down 0.4% to $1,801.20 per ounce, while U.S. gold futures were little changed at $1,800.80. The dollar is strong near two decade…
Oil prices fell on Wednesday after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production. U.S. West Texas Intermediate (WTI) crude futures slid 44 cents, or 0.4%, to $111.32 a…
The Indian rupee hits a fresh record low against the U.S. dollar on Wednesday amidst growing concerns over global growth expectations and investors awaiting U.S. Federal Reserve Chair Jerome Powell’s twoday testimony before Congress. The weak global cues also hit benchmark equity indices as they closed over one percent lower on Wednesday. The rupee closed…
Oil prices declined in early trade on Wednesday amid a push by U.S. President Joe Biden to bring down rising fuel costs, including pressure on major U.S. companies to help ease the pain for drivers during the country’s peak summer demand. U.S. West Texas Intermediate (WTI) crude futures fell $1.34, or 1,2%, to $108.18 a…
Indian rupee weakened to a fresh all-time low against U.S. dollar ahead of the release of U.S. inflation data, which is seen influencing the pace of future rate hikes by the Federal Reserve. Constantly raised crude oil prices also hurt sentiment for the domestic currency, with market participants fearing a fresh time of FII outflows,…
Oil prices edged up on Wednesday ahead of data on U.S. oil inventories data, with crude futures supported by tight supplies and recovering fuel demand as China’s top cities relax COVID-19 lockdowns. Brent crude futures for August raised 22 cents, or 0.2%, to $120.79 a barrel after closing at the highest since May 31 on…
Oil prices up in early Asian trade on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and China closed its COVID-19 lockdown in Shanghai. Brent crude for August delivery was up 78 cents, or 0.7%, at $116.38 a barrel. The front-month contract for July delivery expired on Tuesday…
Oil prices jumped around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in one and a half months, supported by the prospect of an European Union ban on Russian oil and the upcoming summer driving season in the United States. Brent crude futures for July down 9 cents…
Oil prices are up in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai ready to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures raised 82 cents to $113.37 a barrel, while U.S. West Texas…
