LONDON—Oil prices fell on Monday to their lowest in 15 months on concern that risks in the global banking sector and a potential increase to U.S. interest rates could spark a recession that would sap fuel demand. In volatile trading, Brent crude futures for May fell $2.07, or 2.8 percent, to $70.90 a barrel at…
Oil Hits Lowest Since 2021 on Banking Fears
March 20, 2023
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Global Stocks Sink After Credit Suisse Takeover
March 20, 2023
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BEIJING—Global stock markets sank Monday after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate hikes. Hong Kong’s main index slid 2.7 percent. London, Frankfurt, and Paris opened down more than 1 percent. Shanghai, Tokyo,…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 17)
March 17, 2023
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Benchmark U.S. crude oil for April delivery fell $1.61 to $66.74 a barrel Friday. Brent crude for May delivery fell $1.73 to $72.97 a barrel. Wholesale gasoline for April delivery was unchanged at $2.50 a gallon. April heating oil rose 4 cents to $2.68 a gallon. April natural gas fell 17 cents to $2.34 per…
Oil Rises on Demand Hopes as Banking Fears Ease
March 17, 2023
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LONDON—Oil prices firmed on Friday as a meeting between Saudi Arabia and Russia calmed markets and after support measures stabilized a banking crisis that set oil prices on course for their biggest weekly fall since December. Brent crude futures firmed by $1.09, or 1.46 percent, to $75.79 a barrel by 1040 GMT. U.S. West Texas…
World Shares up After 1st Republic Aid Spurs Wall Street Rally
March 17, 2023
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BANGKOK—Markets advanced Friday in Europe and Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the latest U.S. lender in the spotlight for troubles in the banking industry. Shares rose in Paris, London, Tokyo, and Hong Kong but edged lower in Mumbai. U.S. futures…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 16)
March 16, 2023
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Benchmark U.S. crude oil for April delivery rose 74 cents to $68.35 a barrel Thursday. Brent crude for May delivery rose $1.01 to $74.70 a barrel. Wholesale gasoline for April delivery rose 6 cents to $2.50 a gallon. April heating oil rose 4 cents to $2.64 a gallon. April natural gas rose 7 cents to…
Oil Regains Some Ground After Credit Suisse Handed a Lifeline
Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But, battered by fears of growing stress on banks worldwide, market sentiment remained fragile with both benchmarks giving up some early Thursday gains…
ECB Rate Hike Expected After Switzerland Backs Credit Suisse
March 16, 2023
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LONDON—European markets rebounded on Thursday, as a 50 billion Swiss franc ($53.94 billion) lifeline for beleaguered lender Credit Suisse teed traders up for an European Central Bank interest rate decision later. Credit Suisse’s shares leapt more than 20 percent and the main European indexes and Swiss franc all rose around 1 percent in early trading,…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 15)
March 15, 2023
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Benchmark U.S. crude oil for April delivery fell $3.72 to $67.61 a barrel Wednesday. Brent crude for May delivery fell $3.76 to $73.69 a barrel. Wholesale gasoline for April delivery fell 11 cents to $2.44 a gallon. April heating oil fell 11 cents to $2.60 a gallon. April natural gas fell 13 cents to $2.44…
Oil Slips as Banking Fears Return, Offsetting China Demand Hopes
March 15, 2023
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LONDON—Oil extended losses on Wednesday as unease over Credit Suisse spooked world markets, offsetting hopes of a Chinese oil demand recovery. Early signs of a return to calm and stability faded after Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance, sending its shares and broader European stocks…
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