LONDON—Oil prices fell on Friday as recession fears clouded the demand outlook yet remained on track for a weekly rise. Brent crude futures were down $1.15, or 1.2 percent, to $98.45 a barrel 1110 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1.48 or 1.6 percent to $92.86 a barrel. Brent was on…
Oil Prices Set for Weekly Climb, but Cloudy Outlook Caps Gains
August 12, 2022
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World Stocks Eye 4th Week of Gains on Fed Outlook
August 12, 2022
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LONDON/TOKYO—World stocks headed for a fourth straight week of gains on Friday as investors scaled back views on how far U.S. interest rates and inflation can climb, while oil recouped some of the previous week’s losses. A slight easing of inflation readings drove global stocks higher and capped a rising dollar this week, though a…
Dollar Slides Further After US Inflation Surprise
LONDON—The dollar lost further ground versus other major currencies on Thursday, after traders reined in bets on an aggressive interest rate hike by the Federal Reserve after softer-than-expected U.S. inflation data the previous day. The dollar index remained on the back foot in European trading hours, slipping 0.2 percent to 105.000, after recording its biggest…
Oil Rises as IEA Hikes 2022 Demand Growth Forecast
LONDON—Oil prices rose by over 1 percent on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil. Brent crude futures gained $1.04, or 1.1 percent, to $98.44 a barrel by 0949 GMT, while U.S. West Texas Intermediate crude…
World Shares Mostly Gain After Wall Street Hits 3-month Highs
August 11, 2022
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BANGKOK—World shares were mixed Thursday after Wall Street benchmarks closed at three-month highs as investors cheered a report showing inflation cooled more than expected in July. U.S. futures edged higher and oil prices also advanced. The U.S. government said Wednesday that consumer inflation jumped 8.5 percent in July from a year earlier. But that was…
Dollar Edges Down Ahead of Key US Inflation Data
HONG KONG—The dollar edged lower on Wednesday, ahead of U.S. inflation data which markets will scrutinize for guidance on how steeply the U.S. Federal Reserve will raise interest rates. The figures were due at 1230 GMT. Economists expect year-on-year headline inflation to be running at a scorching 8.7 percent, a small retreat from June’s 9.1…
Oil Drops on Druzhba Pipeline News and US Inflation Expectations
August 10, 2022
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LONDON—Oil prices fell on Wednesday on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of publication of key demand indicators. Brent crude futures were down $1.69, or 1.75 percent, to $94.62 a barrel at 1124 GMT. U.S. West Texas Intermediate crude futures were down $1.61 cents, or 1.78 percent, at $88.89….
Stocks Steady, Dollar Dips as Investors Brace for US Inflation Data
August 10, 2022
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LONDON—Stocks and bonds steadied on Wednesday, while the dollar edged lower ahead of U.S. inflation data that could give clues to the Federal Reserve’s appetite for more aggressive rate rises. The Consumer Price Index (CPI) report will be released at 1230 GMT, with markets watching for signs that inflation eased in July despite unexpectedly strong…
Dollar Turns Slightly Defensive, Inflation Data Next Key Test
LONDON—The dollar turned defensive against other major currencies on Tuesday, with traders reluctant to push the greenback higher without further signs that another aggressive interest rate hikes from the Federal Reserve was coming in September. U.S. inflation data on Wednesday was shaping up as the next key test for the dollar, which rose sharply after Friday’s…
Oil Slips Amid Chance of Iran Nuclear Deal Supply Boost
August 9, 2022
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LONDON—Oil dropped over $1 a barrel on Tuesday, approaching a multi-month low hit last week, pressured by the latest progress in talks to revive the 2015 Iran nuclear accord, which would eventually allow Tehran to boost exports in a tight market. The European Union on Monday put forward a “final” text to revive the deal….
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