LONDON—Oil prices rose on Wednesday following a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures rose $1.09, or 1.42 percent, to $77.93 a barrel by 1048 GMT, while U.S. West Texas Intermediate crude (WTI) gained $1.14, or 1.56 percent, to $74.05 a barrel. Saudi…
Stocks Slide on US Debt Ceiling and Inflation Woes
LONDON—Stocks lurched downwards on Wednesday as U.S. debt ceiling negotiations dragged on without resolution, stoking a general malaise in markets that saw safe haven assets like the dollar and gold hold near recent highs. The New Zealand dollar meanwhile tumbled after the central bank caught markets off-guard by flagging that its tightening cycle is over….
Dollar Strengthens Broadly on Fed Rate Expectations
LONDON—The U.S. dollar rose for a second day on Tuesday, briefly touching a six-month peak against Japan’s yen, on expectations that U.S. interest rates will remain higher for longer, while ongoing debt ceiling negotiations kept investors on edge. Among a slew of Federal Reserve heavyweights who spoke on Monday, some hinted that the central bank…
Oil Slips as US Debt Ceiling Concerns Offset Tight Supply
LONDON—Oil slipped on Tuesday as investor concern over the risk of a U.S. debt default was balanced by support from a tighter market due to a seasonal rise in gasoline demand and supply cuts from OPEC+ producers. President Joe Biden and House Speaker Kevin McCarthy ended talks on Monday with no agreement on how to…
Markets Nervous on Fed Ceiling Uncertainty, US Yields Rise
LONDON/HONG KONG–Markets were cautious on Tuesday, as the latest talks over the U.S. debt ceiling offered something for optimists and pessimists, leaving European shares just shy of last week’s 15-month top, and U.S. benchmark yields at their highest in two months. President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement on…
Dollar Calm as Debt Ceiling Talks to Resume
LONDON—The dollar was steady against the euro and yen on Monday, as U.S. debt ceiling negotiations were set to resume and after Federal Reserve Chair Jerome Powell indicated he favours a meeting-by-meeting approach when it comes to future policy moves. The greenback was down 0.1 percent at 137.85 yen to start the week, having snapped…
Oil Steady as US Default Risk Offsets Demand Outlook
LONDON—Oil prices were steady on Monday as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers. Brent crude futures rose 13 cents, or 0.2 percent, to $75.71 a barrel by 0850 GMT, while U.S. West Texas Intermediate…
Stock Market Today: Global Shares Mostly Rise Despite Worries About US Debt Talks
May 22, 2023
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TOKYO—Global shares mostly drifted higher Monday as investors fretted over whether the United States government will be able to reach a deal to avoid a federal default. France’s CAC 40 inched down less than 0.1 percent in early trading to 7,489.72, while Germany’s DAX slipped 0.1 percent to 16,261.45. Britain’s FTSE 100 gained 0.3 percent…
Dollar Retreats From Highs but Debt Deal Optimism Fires Up Investors
LONDON—The dollar hovered close to its highest since March on Friday, as optimism over a breakthrough in U.S. debt ceiling talks and robust economic data reduced the chances of a series of U.S. rate cuts this year. Negotiators for Joe Biden’s Democrats told the president on Friday that they are making “steady progress” in talks…
Oil Rebounds on Fading Risk of US Debt Default
LONDON—Oil prices rebounded on Friday from losses of more than 1 percent the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default. Brent futures rose 69 cents, or 0.9 percent, to $76.55 a barrel by 0923 GMT, while West Texas Intermediate U.S. crude climbed 56 cents, or 0.8…
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