LONDON—Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles and an ECB rate hike stoked demand worries and returning oil supply from Libya eased supply concerns. Brent crude futures lost $3.88, or 3.6 percent, to $103.04 a barrel by 1224 GMT after slipping 0.4 percent in the previous session. U.S….
Oil Prices Slump as Stockpiles and Rate Hikes Stoke Demand Fears
July 21, 2022
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Euro Knocked by Italy Crisis Ahead of Landmark ECB Hike
July 21, 2022
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LONDON—The euro wilted on Thursday as the European Central Bank geared up for its first rate rise in over a decade and as political tumult in Italy offset relief following the restart of Russian gas flows through the region’s largest pipeline. Traders will have more than just the landmark rate move to juggle later, with…
Stocks, Euro Steady Ahead of ECB, Crude Tumbles
July 21, 2022
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LONDON—Stock markets and the euro held their ground on Thursday with investor nerves steadied by the resumption of Russian gas supplies to Europe as they waited for what is expected to be the European Central Bank’s first interest rate hike in 11 years. The flow of Russian gas resumed to Germany after a 10-day outage,…
Euro Slips From 2-week Highs as Mood Turns Sour
LONDON—The euro slipped from two-week highs on Wednesday, as investors braced for a crucial European Central Bank policy meeting on Thursday after policymakers floated the prospects of a 50 bps interest rate hike. The single currency has rallied more than 3 percent in the last four trading sessions on expectations the European Central Bank (ECB)…
Oil Prices Slip Ahead of US Inventory Data
Oil prices fell more than $1 a barrel on Wednesday, under pressure from global central bank efforts to limit inflation and ahead of expected builds in U.S. crude inventories as fuel demand weakens. Brent crude prices for September fell $1.06, or 0.9 percent, to $106.29 a barrel by 0946 GMT, while U.S. West Texas Intermediate…
World Shares Hit 3-week High on Easing Recession Fears
July 20, 2022
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LONDON/BEIJING—World shares hit a three-week high on Wednesday as strong U.S. corporate earnings and the expected resumption of Russian gas supply to Europe allayed fears of a recession, though the dollar hovered near two-week lows on lower U.S. rate hike expectations. Markets still expect a large 75-basis-point interest rate rise from the U.S. Federal Reserve…
Euro Rallies; Dollar Pauses With Central Banks in View
LONDON—The euro rallied on Tuesday, while the dollar hovered below last week’s peak. The jump in the euro, which sent it further away from the sub-parity levels of last week, coincided with falling expectations for an aggressive 100 basis point hike from the Federal Reserve this month, which knocked the dollar. The euro rose to…
Oil Prices Soften but Supply Tightness Trims Losses
July 19, 2022
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LONDON—Oil prices softened on Tuesday after soaring by more than $5 barrel in the previous session on expectations that U.S. crude inventories may have risen last week, but tight supplies and a weaker dollar curbed losses. Brent crude futures for September settlement fell 68 cents or 0.6 percent to $105.59 a barrel by 0949 GMT….
European Shares Slip, Dollar Pauses With Central Banks in View
LONDON/HONG KONG—European shares slipped on Tuesday, while the dollar hovered below last week’s peak, with investors eyeing central bank meetings this week for clues on market direction. The broader Euro STOXX 600 fell 0.6 percent, with indexes in Paris and Frankfurt both down 0.9 percent. Traders were on edge with few immediate pieces of macroeconomic…
Euro at 1-week High, Rowback in Fed Rate Hike Bets Knocks Dollar
LONDON—The euro firmed to a one-week high on Monday, benefiting from the dollar’s retreat after several Federal Reserve officials signaled they did not favor stepping up the rate hiking pace. The comments late last week knocked the dollar off two-decade highs and boosted global stocks and non-dollar currencies, especially the euro. The greenback index, measuring…
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