Benchmark U.S. crude oil for August delivery rose $1.14 to $76.89 a barrel Thursday. Brent crude for September delivery rose $1.25 to $81.36 a barrel. Wholesale gasoline for August delivery rose 1 cent $2.68 a gallon. August heating oil rose 1 cent to $2.61 a gallon. August natural gas fell 8 cents to $2.55 per…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 13)
July 13, 2023
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US Oil Reserve Won’t Be Replenished for Several Years: Top Official
July 13, 2023
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The White House will not refill the Strategic Petroleum Reserve in the near future after millions of barrels were drawn last year, said U.S. Secretary of Energy Jennifer Granholm in a recent interview. It was announced last October by the Biden administration that it would re-buy crude oil when prices reach between $67 and $72 per barrel,…
Oil Benchmark Brent Hovers Above $80 After Pricing in US Data
LONDON—Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world’s biggest economy are close to their peak. Data released on Wednesday showed U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to…
Stocks Around 2023 Highs as Disinflation Signal Brings Some Relief
July 13, 2023
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LONDON—Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as soon as this month. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 12)
July 12, 2023
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Benchmark U.S. crude oil for August delivery rose 92 cents to $75.75 a barrel Wednesday. Brent crude for September delivery rose 71 cents to $80.11 a barrel. Wholesale gasoline for August delivery rose 5 cents $2.67 a gallon. August heating oil rose 2 cents to $2.60 a gallon. August natural gas fell 10 cents to…
Oil Stuck Between Supply Strains and Economic Doubt
LONDON—Oil prices were little changed on Wednesday in a market caught between expectations supply cuts by the world’s biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand. Brent futures dipped 1 cent to $79.39 a barrel by 1039 GMT, and U.S. West Texas Intermediate (WTI) crude edged 8 cents…
Dollar Hits 2-month Low Before US Inflation Data
July 12, 2023
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LONDON—Bets on a screeching slowdown in U.S. inflation data later saw traders shove the dollar to a 2-month low on Wednesday and push stocks up and bond market borrowing costs down for a third day running. Economists polled by Reuters expect to see June U.S. consumer price inflation slow to 3.1 percent from 4 percent…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 11)
July 11, 2023
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Benchmark U.S. crude oil for August delivery rose $1.84 to $74.83 a barrel Tuesday. Brent crude for September delivery rose $1.71 to $79.40 a barrel. Wholesale gasoline for August delivery rose 5 cents $2.62 a gallon. August heating oil rose 3 cents to $2.58 a gallon. August natural gas rose 6 cents to $2.73 per…
Oil Prices Steady as Traders Weigh Supply Cuts Against Economic Headwinds
LONDON—Oil prices were little changed on Tuesday as traders weighed supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 against a sluggish global economic outlook. Brent crude futures were up 2 cents to $77.71 a barrel by 0945 GMT, and U.S….
Stock Market Today: Global Shares Rise Ahead of US Inflation Update on Hopes for Easing Rate Hikes
July 11, 2023
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BEIJING—Global stock markets rose Tuesday ahead of a U.S. inflation update traders hope will show the need for more interest rate hikes is easing. Paris, Shanghai, Frankfurt, and Tokyo advanced. Wall Street futures were little-changed. Oil prices rose. Wall Street’s benchmark S&P 500 index gained 0.2 percent on Monday following its second weekly decline in…
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