Crude oil yesterday decreased by -4.17% to close at 5705 as concerns over interest rates and inflation resurfaced, increasing questions about the prospects for gasoline demand. Pressure from important central banks was also perceived as being hawkish, which created worries that interest rates would keep rising for a longer period of time and worsen the…
In anticipation of increased crude demand from Chinese refineries, crude oil yesterday finished up 0.72% at 5877. According to data, China’s throughput at oil refineries increased by 15.4% in May compared to the same month last year, making it the country’s second-highest monthly total ever. According to the International Energy Agency’s (IEA) most recent Oil…
Tuesday saw a little decline in oil prices as traders gave up the majority of the gains made the previous session in the wake of Saudi Arabia’s declaration that it will further reduce the output, of the world’s largest exporter. At $76.48 a barrel, Brent crude futures were down 23 cents, or 0.3%. American West…
In response to encouraging macroeconomic statistics, the rupee rose by 33 paise to settle at 82.42 (provisional) against the US dollar on Thursday. Against the US dollar, the local unit traded in the interbank foreign exchange market with an opening price of 82.54 and ended the day at 82.42 (provisional), up 33 paise from the…
Oil prices fell in early trade on Thursday for the third straight day as a result of data showing an unexpectedly big gain in U.S. oil storage last week. This data, together with indications of weaker Chinese demand, raised concerns about an oversupply. The price of Brent crude futures for August delivery dropped by 40…
Yesterday, crude oil fell by -4.64% to trade at 5756 as worries about the U.S. debt ceiling agreement dampened the market’s risk-on mood and conflicting signals from key producers muddied the supply outlook ahead of their meeting this weekend. Last week, Saudi Arabia’s Energy Minister Abdulaziz bin Salman cautioned short-sellers who were wagering that oil…
Oil prices increased on Tuesday amid expectations that the world’s largest oil consumer, the United States, will increase demand as a result of the debt ceiling agreement. Gains were restrained, however, by worries about future interest rate increases and the potential for OPEC+ to maintain current output quotas. Today morning, Brent crude futures had increased…
On Friday, the rupee strengthened versus the US dollar by 14 paise to 82.58 (provisional), helped by foreign capital inflows and an uptick in domestic markets. However, the strong US dollar relative to important foreign currencies restrained the home currency’s upward trend, according to FX traders. Since US President Joe Biden and Republican House Speaker…
A stronger dollar and confusing messages from Saudi Arabia and Russia ahead of the next OPEC+ policy meeting contributed to the decline in oil prices in early trade on Friday. In the morning session, Brent crude prices were down 30 cents to $75.96 per barrel, while U.S. West Texas Intermediate prices were down 14 cents…
Early Thursday morning Asian trade saw a decline in oil prices as concerns over whether the US will escape a financial default outweighed the potential for more production cutbacks from OPEC+.In the Morning session, Brent crude futures had dropped 5 cents, or 0.1%, to $78.31 per barrel. West Texas Intermediate (WTI) crude for the United…
