West Texas Intermediate crude oil futures fell below $102 a barrel, good for a 22% drop over the past two weeks. The funny thing is that this doesn't feel like a bear market, considering that...
The American Petroleum Institute reported a large draw this week for crude oil of 3.799 million barrels. The build comes as the Department of Energy released 6.9 million barrels from the Strategic...
South Korea's Kospi gained 1.65%. MSCI's broadest index of Asia-Pacific shares rose 1.31%. U.S. stock futures point to a 0.25% decline when those markets reopen. Treasury yields remained subdued...
The number of active drilling rigs in the United States rose by 13 this week. The total rig count rose to 753 this week—283 rigs higher than the rig count this time in 2021. The rig count in the...
Oil prices settled up by more than $3 a barrel on Friday, supported by tight supply. But they notched their second weekly decline on concern that rising interest rates could push the world economy...
Brent crude futures fell $2.26 cents, or 2%, to $109.48 by 1:04 p.m. ET (1704 GMT) U.S. West Texas Intermediate (WTI) crude futures were down 2.3%, at $103.71.Federal Reserve chief Jerome Powell...
Oil prices have continued sliding in the wake of the central bank deciding to hike the interest rate by a record-high 75 basis points. WTI futures for July settlement were quoted at $104.48/barrel...
U.S. West Texas Intermediate crude futures fell 2.9%, to $103 a barrel. Oil prices added to losses from the previous session on Thursday, dropping more than 2%. Investors worried that aggressive...
U.S. President Joe Biden is expected to ask Congress to consider a three-month suspension of the 18.4 cents per gallon federal tax on gasoline. Biden is also expected to call on states to suspend...
European stocks are expected to open in negative territory on Wednesday. The lower open in Europe comes as global market sentiment shifts to a more negative setting. Overnight, shares in the...
Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel at 0400 GMT. The benchmark contract fell 7.3% last week in its first weekly fall in five. U.S. West Texas Intermediate (WTI) crude...
Brent crude futures slipped 8 cents, or 0.1%, to $113.04 a barrel by 0242 GMT. Front-month prices tumbled 7.3% last week, its first weekly fall in five. U.S. West Texas Intermediate crude was at...
The major futures indexes suggest a drop of nearly 2.00%, or more than 500 Dow points when the opening bell rings. Shares of Apple are taking a hit in remarket trading, down nearly 3%. The Federal...
The Federal Reserve raised rates by three-quarters of a percentage point, or 75 basis points. Wall Street had largely anticipated a 75-basis point hike, and oil prices were down 1% on Wednesday....
Brent crude futures settle down $1.10, or 0.9%, to $121.17 a barrel. Most Fed watchers had expected the U.S. central bank to hike rates by 50 basis points. But after Friday's surprisingly strong...
OPEC did not lift its production as agreed for the month of May. The group stressed that oil demand could be stymied by Russia’s invasion of Ukraine. Saudi Arabia and the UAE are the only members...
Oil drops about $2 a barrel on Monday as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound. Beijing's most populous district Chaoyang announced three rounds of mass...
Brent crude fell $1.06 to settle at $122.01 a barrel on Friday. U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. China COVID jitters rise as parts of...
Commodity merchant Trafigura scores record $2.7 billion profit in six months through March. Trading house emerged as a winner from market disruption, taking in more than $170 billion in revenue....
Shares in Asia-Pacific declined in Friday morning trade. The Chinese producer price index for May jumped 6.4% as compared with a year earlier. Investors also looked ahead to the release of U.S....
Brent crude futures dipped 14 cents or 0.1% to $123.44 a barrel at 1045 GMT. U.S. West Texas Intermediate crude for July was at $121.88 a barrel, down 23 cents. China's May exports jumped 16.9%...
Nine of the 11 major S&P sectors were trading lower. Economy-sensitive materials (.SPLRCM) and financials (.SPSY) fell 1.6% each. Amazon.com declined and chipmakers came under pressure after a...
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Goldman Sachs raised its price target for Brent crude to $140 per barrel from $125 per barrel, citing unresolved structural shortages. The brief period of balance in oil earlier this year, when...
Shares of US energy giant Exxon Mobil have had a remarkable run during the past two years. After surging 67% in 2021, the Irving, Texas-based company has gained another 61.2% this year. The...
U.S. West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $118.95 a barrel. Brent crude was up 4 cents to $119.76 a barrel after touching an intraday high of $121.95.Saudi Arabia...
Saudi Arabia hiked prices for its crude sales in July, signalling tight supply. OPEC+ agreed to accelerate output increases over the next two months. Brent crude was up 91 cents, or 0.8%, at...
China's Caixin Services Purchasing Managers' Index released Monday came in at 41.4, an improvement over April's reading of 36.2. Mainland Chinese stocks traded in positive territory, with the...
Brent crude jumped to a nearly 13-year high of around $139 per barrel in March. Russia's war in Ukraine threatened to further disrupt oil supply in an already tight energy market. Although Brent...
OPEC+ agreed to boost output by 648,000 barrels per day (bpd) a month in July and August rather than 432,000 bpd as previously agreed. Oil settled higher on Friday, supported by expectations that...
