LONDON—Oil prices dipped on Thursday, having hit their lowest since late 2021 earlier this week, after Federal Reserve Chair Jerome Powell highlighted banking sector credit risks for the world’s largest economy, while U.S. crude stockpiles swelled. Brent crude futures were down 54 cents, or 0.7 percent, to $76.15 a barrel at 0929 GMT, while U.S….
Oil Down After Fed Comments, US Crude Stock Build
Global Shares Mixed After Fed Hints Rate Hikes May End Soon
TOKYO—Global shares were mixed Thursday after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching hikes to interest rates. France’s CAC 40 declined 0.3 percent in early trading to 7,112.95, while Germany’s DAX slipped 0.2 percent to 15,183.25. Britain’s FTSE 100 dipped 0.5 percent to 7,532.54….
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 22)
Benchmark U.S. crude oil for May delivery rose $1.23 to $70.90 a barrel Wednesday. Brent crude for May delivery rose $1.37 to $76.69 a barrel. Wholesale gasoline for April delivery rose 5 cents to $2.59 a gallon. April heating oil rose 5 cents to $2.74 a gallon. April natural gas fell 18 cents to $2.17…
Oil Slips on Demand Fears, Market Awaits Fed Decision
LONDON—Oil prices edged lower on Wednesday following fresh indications of weak demand, and as the market awaited a crucial interest rate decision by the U.S. Federal Reserve. Brent crude futures, which have risen by almost 3 percent this week, were down 30 cents, or 0.40 percent, at $75.02 a barrel at 1026 GMT. U.S. West…
World Stocks Cautiously Higher Ahead of High Stakes Fed Decision
LONDON—World stocks were cautiously higher on Wednesday as hopes that a banking crisis would be averted were tempered by uncertainty before a Federal Reserve meeting that sees the central bank caught between taming inflation and maintaining stability. Data showing British inflation unexpectedly rose to 10.4 percent in February boosted expectations for a quarter point rate…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 21)
Benchmark U.S. crude oil for April delivery rose $1.69 to $69.33 a barrel Tuesday. Brent crude for May delivery rose $1.53 to $75.32 a barrel.Wholesale gasoline for April delivery was unchanged at $2.54 a gallon. April heating oil was also unchanged at $2.69 a gallon. April natural gas rose 13 cents to $2.35 per 1,000…
Oil Rises for 2nd Day as Banking Fears Ease for Now
LONDON—Oil rose on Tuesday, extending a recovery from a 15-month low hit the previous day, as the rescue of Credit Suisse eased worries about global banking sector risks that could hit economic growth and reduce fuel demand. Sentiment across financial markets has improved after the UBS takeover of Credit Suisse, announced on Sunday, and after…
Shares Rise After Credit Suisse Deal, but Bank ‘Whack-a-Mole’ Not Over
LONDON/SINGAPORE—Global shares rose on Tuesday, after the rescue of Credit Suisse arrested a rout in bank stocks, but signs of stress in the financial system are making investors wonder if another lender may deliver a nasty surprise, and how central banks might respond. The Federal Reserve begins a two-day meeting later in the day and…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 20)
Benchmark U.S. crude oil for April delivery rose 90 cents to $67.64 a barrel Monday. Brent crude for May delivery rose 82 cents to $73.79 a barrel. Wholesale gasoline for April delivery rose 4 cents to $2.54 a gallon. April heating oil rose 1 cent to $2.69 a gallon. April natural gas fell 12 cents…
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‘Stay Defensive’: Chief Investment Officer on How to Position Your Portfolio
All eyes are on the Federal Reserve ahead of their closely-watched interest rate decision on March 22. Fed Chair Jerome Powell and company will have to balance fears of more damage to the banking sector with their original mission—to defeat inflation. Markets have priced in an overwhelming likelihood of a 25 basis-point rate hike. How…