LONDON—Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world’s second-largest oil consumer. Brent crude futures were down 13 cents to $86.18 a barrel at 1018 GMT, while U.S. West Texas Intermediate crude was at $82.33 a barrel, down 19 cents. Both contracts notched their…
Oil Steady as Market Awaits Chinese GDP Data
April 17, 2023
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Global Shares Rise Despite Economic Growth, Rate Worries
April 17, 2023
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TOKYO—Global markets rose moderately Monday, although worries continued about economic growth and inflationary pressures. France’s CAC 40 rose less than 0.1 percent in early trading to 7,522.58. Germany’s DAX gained 0.2 percent to 15,830.74. Britain’s FTSE 100 added 0.5 percent to 7,911.91. U.S. shares were set to drift higher with Dow futures up less than…
Dollar Set for Longest Stretch of Weekly Losses Since 2020
LONDON—The dollar headed for its longest stretch of weekly losses in almost three years on Friday, as traders ramped up expectations of an imminent end to the U.S. Federal Reserve’s rate-hike cycle following signs that inflation may be cooling. Data on Thursday showed U.S. wholesale prices, as measured by the producer price index (PPI), fell…
Oil Gains After IEA Sees Demand Rising to Record High
April 14, 2023
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LONDON—Oil prices rose on Friday after the West’s energy watchdog said it expected global demand to rise to a record high this year on the back of a recovery in Chinese consumption. The International Energy Agency (IEA) also warned that output cuts announced by OPEC+ producers could exacerbate an oil supply deficit and hurt consumers….
Global Stocks Rise After US Inflation Cools
April 14, 2023
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BEIJING—Global stock markets rose Friday after U.S. inflation eased in March and China reported strong exports. London and Frankfurt opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices rose. Wall Street futures were lower, giving up part of Thursday’s gains after U.S. inflation at the wholesale level slowed more than expected. Asian markets were…
Dollar Drops to 2-Month Low on Cooling US Inflation
LONDON/SINGAPORE—The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering speculation the Federal Reserve’s rate hiking campaign is either already finished or will be by May. As the dollar slipped, the euro rose to within a whisker of a one-year high, with traders betting the European…
Oil Stable as Market Weighs Tight Supply Against US Recession Risk
April 13, 2023
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LONDON—Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world’s largest oil consumer. Brent crude fell 7 cents, or 0.08 percent, to $87.26 a barrel by 0935 GMT. U.S. West Texas Intermediate (WTI) was unchanged at $83.26. Both benchmarks had risen…
Stocks and Gold Cheer US Inflation Picture, While Dollar Slides
April 13, 2023
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LONDON—Global shares rose on Thursday, while the dollar held near two-month lows after U.S. inflation data suggested the Federal Reserve may soon be finished raising interest rates, which in turn kept gold above $2,000 an ounce. The euro hit a 2–1/2 month high at $1.103. Investors are positive on Europe, where blue-chip stocks hit a…
Dollar Slips Ahead of US Inflation Data
SINGAPORE/LONDON—The dollar dipped on Wednesday with investors expecting U.S. inflation data out later in the day to hold some clues on how soon U.S. interest rates will peak. Against a basket of currencies, the U.S. dollar index fell 0.1 percent to 102.02. The U.S. inflation data for March is forecast to come in at 5.2…
Oil Steadies as Market Awaits Key US Inflation Data
April 12, 2023
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Oil prices steadied Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on interest rate hikes. Brent crude gained 14 cents, or 0.2 percent, to $85.75 a barrel by 0917 GMT, while U.S. West Texas Intermediate rose 10 cents, or 0.1 percent, to…
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