LONDON—Oil prices dropped on Monday as weak manufacturing data from China and Japan weighed on the demand outlook while investors braced for this week’s meeting of officials from OPEC and other top crude producers on supply adjustments. Brent crude futures were down $1.42, or 1.4 percent, at $102.55 a barrel by 1017 GMT. U.S. West…
World Shares Advance, Tracking Wall Street Week’s End Rally
August 1, 2022
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BANGKOK—World shares were mostly higher Monday after a strong close on Wall Street last week, though the latest manufacturing surveys showed weakening factory activity in Asia’s two biggest economies: China and Japan. Germany’s DAX gained 0.3 percent to 13,522,83 while the CAC 40 in Paris added 0.4 percent to 6,473.00. Britain’s FTSE 100 climbed 0.4…
Yen Set for Biggest Weekly Gain in 4 Months on Peak US Rate Bets
LONDON—Japan’s yen surged on Friday and is on track for its biggest weekly rise in four months against the dollar on bets that U.S. interest rates are nearing a peak after data showed the world’s biggest economy unexpectedly contracted in the June quarter. Futures markets predict that U.S. interest rates will peak by December this…
Oil Prices Pushed Up as Market Weighs Tight Supply Against Recession Fears
July 29, 2022
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LONDON—Oil prices rose in European trading on Friday, lifted by supply concerns as attention turned to next week’s OPEC+ meeting. Brent crude futures for September settlement, due to expire on Friday, gained $2.34 to $109.48 a barrel by 0933 GMT for its highest since July 5. The more active October contract was up $2.30 at…
World Stocks Eye Best Month Since Late 2020, Dollar Slips
July 29, 2022
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LONDON—Global stocks rose on Friday, on course for their best month since late 2020, as eurozone growth beat expectations, while the dollar staged a recovery from the day’s lows as traders await fresh U.S. data for clues to the outlook for rates. As inflation surges across major markets and central bankers fight to raise rates…
Dollar Hits Three-Week Low to Yen as Fed’s Powell Less Hawkish Than Feared
TOKYO—The dollar dropped to a three-week low versus the yen on Thursday after Federal Reserve Chair Jerome Powell assuaged investors’ worries about continued aggressive monetary tightening. The U.S. currency sank as low as 135.105 yen, its weakest since July 6 after the Fed raised the benchmark rate by an as-expected 75 basis points to bring…
Oil Extends Gains as Risk Appetite Improves, US Inventories Fall
July 28, 2022
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LONDON—Oil rose more than $1 a barrel on Thursday, extending gains from the previous session, buoyed by improved risk appetite among investors as lower crude inventories and a rebound in gasoline demand in the United States supported prices. Brent crude futures for September rose $1.65, or 1.55 percent, to $108.27 a barrel by 1034 GMT,…
Shares Take Breather After Fed Rally, Dollar Slips on Yen
July 28, 2022
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LONDON—World shares consolidated a 6-week high on Thursday as investors scented a possible slowdown in the pace of U.S. rate hikes that had comforted bond markets and sent the dollar to a three-week low on the yen. Europe made an upbeat start as record-busting $11.5 billion profits from oil giant Shell sent commodities shares soaring,…
Dollar Creeps Lower as Large Fed Rate Hike Looms
July 27, 2022
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LONDON—The dollar edged further away from recent 20-year highs on Wednesday ahead of the U.S. Federal Reserve policy meeting, at which the central bank is expected to raise rates by another 75 basis points to tame soaring inflation. But moves in currency markets were modest as traders await the policy announcement at 1800 GMT. Money…
Oil Rises on US Inventory Drop, Russian Gas Cuts
LONDON—Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike. Industry group the American Petroleum Institute said on Tuesday crude stocks fell by 4 million barrels, four…
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