LONDON—Oil prices rose on Tuesday, erasing the previous session’s losses, as Optimism for a solid economic rebound in China offset worries about further U.S. interest rate hikes dragging on consumption in the world’s biggest economy. Brent crude futures for April, due to expire on Tuesday, were up by 87 cents, or 1.1 percent, to $83.32…
Oil Rises on China Growth Optimism
February 28, 2023
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Shares Slip, Bond Yields Hit Multi-Year Highs on Inflation Fears
February 28, 2023
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LONDON—Global equities slipped and bond yields hit multi-year highs on Tuesday after consumer prices hit a record in France and accelerated in Spain, adding to expectations that major central banks will need to continue tightening policy. France’s European Union-harmonised consumer prices rose to a record 7.2 percent in February while Spain’s EU-harmonised 12-month inflation was…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 27)
February 27, 2023
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Benchmark U.S. crude oil for April delivery fell 64 cents to $75.68 a barrel Monday. Brent crude for April delivery fell 71 cents to $82.45 a barrel. Wholesale gasoline for March delivery rose 1 cent to $2.37 a gallon. March heating oil rose 2 cents to $2.82 a gallon. April natural gas rose 18 cents…
The Cost of Investing in Precious Metals
Gold and silver and other precious metals like platinum and palladium provide valuable security in times of financial turmoil. Despite price fluctuations, physical precious metals pose no credit risk and retain an intrinsically high economic value even when the stock market crashes. What are the costs of precious metals investing, and what associated expenses are…
Oil Rises on Russian Supply Jitters
February 27, 2023
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LONDON—Oil prices edged up in volatile trade on Monday, as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March, but a stronger dollar and fears of recession capped gains. West Texas Intermediate U.S. crude futures (WTI) traded at $76.68 a barrel, 36 cents, or 0.5 percent…
World Shares Mixed After Latest Wall Street Retreat
February 27, 2023
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BANGKOK—Shares gained Monday in Europe after retreating in Asia, where they tracked Wall Street’s latest decline. Last week, U.S. shares suffered their worst setback since early December. Reports on inflation, the jobs market, and retail spending have come in hotter than expected, leading analysts to raise forecasts for how high the Federal Reserve will have…
Russia Halts Pipeline Oil Supplies to Poland, PKN Orlen Says
February 25, 2023
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WARSAW—Russia has halted supplies of oil to Poland via the Druzhba pipeline, the chief executive of Polish refiner PKN Orlen said on Saturday, adding that the company would tap alternative sources to plug the gap. The halt in supplies via the pipeline—which has been exempted from EU sanctions imposed on Russia following its full-scale invasion…
Food Makers, Feeling Squeezed, Pull the Plug on Slow-Selling Products
February 25, 2023
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BOCA RATON, Florida/LONDON—Major consumer companies including Kraft Heinz Co. and Conagra Brands Inc. are culling product lines to combat sky-high costs and falling consumer demand, their executives said this week. Many companies started slimming their offerings during the pandemic and are aggressively renewing those efforts, eliminating less-popular items to focus on products on which they…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb.24)
February 24, 2023
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Benchmark U.S. crude oil for April delivery rose 93 cents to $76.32 a barrel Friday. Brent crude for April delivery rose 95 cents to $83.16 a barrel. Wholesale gasoline for March delivery fell 2 cents to $2.36 a gallon. March heating oil rose 9 cents to $2.80 a gallon. March natural gas rose 14 cents…
Oil Gains as Russian Output Cuts Offset Rising US Inventories
February 24, 2023
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LONDON—Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States and concerns over global economic activity. Brent crude futures rose 89 cents, or 1.1 percent, to $83.10 per barrel by 1042 GMT. On the anniversary of Russia’s invasion of Ukraine,…
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