LONDON—Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world’s biggest oil consumer, while attention turned to a meeting of OPEC ministers and their allies at the weekend. Brent crude futures rose 77 cents, or 1 percent to $75.05 a barrel by 0806 GMT, while U.S. West Texas…
Stocks Gain, Dollar Stumbles as US Averts Default, Fed Skip Bets Rise
June 2, 2023
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LONDON/SINGAPORE—Global stocks and commodities rose on Friday while the dollar headed for its biggest weekly drop since January, as sentiment was buoyed by signs the Fed will skip a rate hike at its next meeting and the approval of U.S. debt ceiling legislation. Markets are now focused on U.S. jobs data due 0830 EST (1230…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 1)
June 1, 2023
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Benchmark U.S. crude oil for July delivery rose $2.01 to $70.10 a barrel Thursday. Brent crude for August delivery rose $1.68 to $74.28 a barrel. Wholesale gasoline for July delivery was unchanged at $2.44 a gallon. July heating oil rose 6 cents to $2.31 a gallon. July natural gas fell 11 cents to $2.16 per…
Oil Steadies on a Potential Pause in US Interest Rate Hikes and Passing Debt Limit Deal
LONDON—Oil steadied on Thursday on a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill. U.S. Federal Reserve officials on Wednesday suggested interest rates could be kept on hold this month and the U.S. House of Representatives passed a bill suspending the government’s debt…
Shares Gain on US Debt Bill Passage, Fed Pause Talk
June 1, 2023
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LONDON/TOKYO—Global shares rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling. A divided House passed a bill to suspend the $31.4 trillion debt ceiling—and avert a catastrophic default—with majority support from…
Closing Prices for Crude Oil, Gold, and Other Commodities (May 31)
May 31, 2023
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Benchmark U.S. crude oil for July delivery fell $1.37 to $68.09 a barrel Wednesday. Brent crude for July delivery fell 88 cents to $72.66 a barrel. Wholesale gasoline for June delivery fell 4 cents to $2.56 a gallon. June heating oil fell 2 cents to $2.26 a gallon. July natural gas fell 6 cents to…
Oil Falls On Weak China Data, Stronger US Dollar
LONDON—Oil prices fell on Wednesday on a stronger U.S. dollar and as weak data from top oil importer China raised demand fears. Brent crude futures for August delivery were down $1.29, or 1.75 percent, to $72.42 a barrel at 1013 GMT. U.S. West Texas Intermediate crude (WTI) fell $1.28, or 1.84 percent, to $68.18. Both…
Shares Drop Ahead of US Debt Ceiling Vote; China Data Rattles Nerves
May 31, 2023
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LONDON—Global shares fell on Wednesday ahead of a crucial vote in Washington on the U.S. debt ceiling, while commodities and the Chinese yuan came under pressure after data highlighted faltering growth in the world’s second-largest economy. The MSCI All-World Index of global shares, which is heading for its first monthly decline since February, was down…
Closing Prices for Crude Oil, Gold, and Other Commodities (May 30)
May 30, 2023
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Benchmark U.S. crude oil for July delivery fell $3.21 to $69.46 a barrel Tuesday. Brent crude for July delivery fell $3.53 to $73.54 a barrel. Wholesale gasoline for June delivery fell 11 cents to $2.60 a gallon. June heating oil fell 9 cents to $2.28 a gallon. July natural gas fell 9 cents to $2.33…
ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money?
Will gold rescue Zimbabwe from the ashes of economic despair and usher in a new economic era? Since Zimbabwe declared independence from the former Republic of Rhodesia in 1980, the southern African country has been ravaged by inflation and overall economic turmoil. Over the past 40 years, the annual inflation rate has only touched single-digit…
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