Oil prices saw a downward drift on Monday, as the market seemed to minimize concerns about a wider regional conflict following Iran’s weekend attack on Israel. Brent futures for June delivery dropped by 81 cents, approximately 0.9%, reaching $89.64 per barrel by 1335 GMT, while West Texas Intermediate (WTI) futuresRead More →
Stock market investors on Wall Street in the week ahead will be focusing on the US economic data including retail sales report and the industrial production data, and quarterly earnings reports from major companies such as Netflix, Goldman Sachs, Morgan Stanley, Bank of America, and Abbott Laboratories. The investors willRead More →
Despite touching fresh lifetime high levels, domestic equity benchmarks settled flat last week as investors’ hope for a June rate cut were dashed by higher-than-expected inflation in the US, compounded by positive US employment and manufacturing data. Escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crudeRead More →
Brent crude futures settled up 71 cents at $90.45 per barrel, while US West Texas Intermediate (WTI) crude futures rose 64 cents to $85.66. For the week, Brent declined 0.8 per cent, while WTI dropped more than one per cent. Coming to domestic prices, crude oil futures settled 0.04 perRead More →
Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks. “That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,” said the leading investment bank inRead More →
Oil prices fell on Wednesday, April 10, after US government data showed earlier today that crude oil and fuel inventories rose by much more than expected on weak demand and lower oil exports. US crude stocks climbed by 5.8 million barrels in the week ended April 5, more than doubleRead More →
The global oil benchmark Brent stabilized above $91 per barrel on Monday, paring back initial declines triggered by Israel’s withdrawal of additional troops from Gaza and its commitment to new discussions regarding a potential ceasefire in the Middle East conflict. At 13:35 GMT, Brent crude futures showed a decrease ofRead More →
On Wall Street in the week ahead, investors’ major focus would be on inflation data for March and the minutes of the Federal Reserve’s March monetary policy meeting. Following last week’s strong jobs report that dented interest rate cut odds, investors will closely watch the consumer prices data and theRead More →
Global crude oil prices reported a second straight weekly gain and hit six-month high levels as markets watched for signs of any direct conflict between Israel and Iran that could further tighten supplies. This sudden uptick in crude oil prices has reignited fears of inflationary pressures and instilled fresh concernsRead More →
The April 3 policy decision by OPEC+ led to a spike in international crude prices to their highest in five months. With the spike in prices, benchmark Brent crude futures is currently trading at $90 per barrel, a level last seen in October 2023. Also Read: Expert View | OilRead More →
