LONDON/SINGAPORE—Oil prices gained for a fourth straight session on Wednesday with tight supply worries offsetting concerns about a weaker global economy. Brent crude futures for August were little changed at $117.9 a barrel by 0917 GMT. The August contract will expire on Thursday and the more-active September contract was at $114.06, up 23 cents, or…
World Stocks Skid as Consumer Data Flashes Recession Worry
LONDON—Global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession. A succession of weak data releases in Europe and the United States has not prevented central bankers from doubling down on hawkish rhetoric. More…
Euro Holds Below $1.06 as Lagarde Sticks to Script
LONDON—The Aussie and the Canadian dollar climbed on Tuesday on firmer oil prices while the euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight on the central bank’s policy outlook. Oil prices are up 10 percent in barely a week on supply constraint concerns with Brent crude holding…
Stocks, Oil Edge Up as China Relaxes Quarantine Rules
LONDON—Global shares moved into positive territory on Tuesday while oil prices firmed following China’s decision to ease some quarantine requirements for international arrivals. China slashed the quarantine time for inbound travelers by half in a major easing of one of the world’s strictest COVID-19 curbs, which have deterred travel in and out of the country…
Dollar Struggles as Big Rate Hike Bets Cool
LONDON—The U.S. dollar struggled versus its major rivals on Monday as traders reassessed the prospects of aggressive rate hikes, while the euro led gainers at the start of the European Central Bank’s annual summit in Portugal. Aggressive interest rate hike bets have boosted the dollar in recent days with an index rising to a near…
Oil Prices Slip Ahead of G7 Talks on New Russian Sanctions
June 27, 2022
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LONDON—Oil prices edged lower on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations in Germany. The prospect of even tighter supplies loomed over the market as western governments sought ways…
Stocks Extend Bear Market Bounce as Inflation Angst Eases
MILAN/TOKYO—World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark for global stocks up for a third…
Dollar Stumbles as Markets Rethink Interest Rate Path
LONDON—The U.S. dollar slipped on Friday and was heading for its first weekly decline this month as traders dialed down bets on where interest rates may peak and brought forward their views on the timing of rate cuts to counter a possible recession. A significant factor this week has been the fall in oil and…
Oil up More Than $1 but Set for Second Weekly Drop on Recession Fears
LONDON—Oil rose by more than $1 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank’s focus on curbing inflation was “unconditional,” adding…
Stocks Temper Their Inflation Expectations on Copper Pounding
LONDON—World stocks headed for their first weekly gain in a month and Wall Street was set to open higher on Friday on hopes that slides in copper and other commodities could put a brake on runaway inflation. The week has been marked by steep declines for commodities on concern that the world economy is looking…
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