Oil prices were little changed on Thursday, February 29, as January US inflation data reinforced expectations for a rate cut in June. US prices picked up in January, but the annual increase in inflation was the smallest in nearly three years, keeping an interest rate cut from the Federal ReserveRead More →
Oil prices pulled back on Wednesday, February 28, as the prospect of delays to US interest rate cuts and a jump in US crude stocks that beat expectations offset a boost from a potential extension to supply curbs by the Organization of Petroleum Exporting Countries (OPEC). Brent and WTI futuresRead More →
Oil prices rose on Tuesday, February 27, as the market focused on uncertainty over a potential Gaza ceasefire and some expectations that the Organization of Petroleum Exporting Countries (OPEC) will extend voluntary supply cuts in March. Mixed signals came from the Middle East as US President Joe Biden said IsraelRead More →
Asian markets traded mixed while the US stocks ended lower as sentiment remained weak ahead of the release of key economic data this week. The release of January’s personal consumption expenditures price index (PCE) – the US Federal Reserve’s preferred inflation gauge – could dampen the recent enthusiasm should theRead More →
Oil prices experienced a slight decline amid speculation that unexpectedly robust inflation figures might postpone reductions in high interest rates, which have been restraining global fuel demand growth. Brent crude futures saw a decrease of 20 cents, marking a 0.3% drop to $81.42 per barrel by 1415 GMT. Similarly, U.S.Read More →
The global oil benchmark Brent crude remained relatively stable, staying near the $83 per barrel mark, despite persistent worries about demand, on Monday. This stability was attributed to ongoing conflicts in the Middle East, which countered some of the concerns regarding demand fluctuations. Brent crude futures saw a slight declineRead More →
Markets traded volatile in the continuation to the prevailing consolidation phase but managed to edge higher. The beginning was subdued however gradual recovery in the following sessions not only pared losses but also helped the index to close around the week’s high. On the benchmark front, both Nifty and SensexRead More →
Oil prices settled higher in the previous session as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency (IEA) for slowing demand. The growing risk of a wider conflict in the Middle East supported crude prices. Brent crude futures settled up 61 cents,Read More →
Brent crude futures were up 53 cents, or 0.7 per cent, to $82.13 a barrel by 1456 GMT. US West Texas Intermediate crude futures gained 52 cents, or 0.7 per cent, at $77.16, according to news agency Reuters. Both oil benchmark contracts lost more than $1 per barrel on Wednesday,Read More →
Brent crude futures were down 54 cents, or about 0.7%, at $81.65 a barrel, while U.S. West Texas Intermediate crude futures slipped 32 cents, also about 0.4%, to $76.52 a barrel at 1426 GMT. Last week, the major forces underlying the rally were the persistent threats to shipping in theRead More →
