LONDON—Oil fell almost 3 percent on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. Two Fed officials on Thursday warned additional hikes in borrowing costs are essential to lower inflation to desired levels….
Oil Heads for Weekly Loss on Rate Hike Worries, Ample Supply
February 17, 2023
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LIVE 10:15 AM ET: Senate Energy Committee Holds Hearing on the Impact of Russia-Ukraine War
U.S. Senate Energy Committee holds a hearing at 10:00 a.m. ET on Feb. 16 on the impact of a year of the Russia-Ukraine war on European and Global Energy security. Assistant Secretary of Energy for International Affairs Dr. Andrew Light; European Commission Director-General for Energy Ditte Juul Jørgensen; and Rice University Baker Institute for Public…
LIVE NOW: Senate Energy Committee Holds Hearing on the Impact of Russia-Ukraine War
U.S. Senate Energy Committee holds a hearing at 10:00 a.m. ET on Feb. 16 on the impact of a year of the Russia-Ukraine war on European and Global Energy security. Assistant Secretary of Energy for International Affairs Dr. Andrew Light; European Commission Director-General for Energy Ditte Juul Jørgensen; and Rice University Baker Institute for Public…
Dollar Eases as Investors Price out ‘Armageddon Recession’ Risk
LONDON—The dollar stalled on Thursday as investors scooped up higher-risk currencies after a run of strong U.S. economic data reinforced confidence in the global growth outlook, even though the Federal Reserve looks set to raise interest rates further. Data from the U.S. Commerce Department showed on Wednesday that retail sales in the United States rebounded…
Oil Slips on US Stock Build, Trading in Narrow Range
February 16, 2023
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LONDON—Oil prices edged lower on Thursday after a large build in U.S. crude inventories but continued to trade in a narrow range as hopes for a Chinese demand recovery remained in focus. Brent crude futures fell 36 cents, or 0.42 percent, to $85.02 a barrel by 1042 GMT. U.S. West Texas Intermediate (WTI) crude futures…
Stocks Shrug Off Rate Risks as Data Tempers Recession Worries
February 16, 2023
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Stocks rose on Thursday as economic data from around the world fed hopes that the global economy might not face as hard a landing as feared a few months ago, even as interest rates threaten to remain higher for longer than expected. The pan-European STOXX 600 index rose 0.5 percent, while London’s FTSE 100 continued…
Dollar Climbs After US Inflation Data and Tough Fed Talk
LONDON/SINGAPORE—The dollar rose on Wednesday in the wake of stubbornly high U.S. inflation data and firm words on interest rates from Federal Reserve officials. U.S. consumer price index (CPI) inflation accelerated month-on-month in January, rising 0.5 percent as expected, due in part to higher rental and food costs. Year-on-year, prices rose 6.4 percent. That was…
Oil Drops on US Interest Rate Worries
February 15, 2023
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LONDON—Oil dropped for a second day on Wednesday as expectations of further interest rate hikes sparked concern over fuel demand and the economic outlook. Brent crude futures fell 46 cents, or 0.5 percent, to $85.12 a barrel by 1130 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 60 cents, or 0.8 percent, to $78.46….
Global Stocks Mixed After US Inflation Feeds Rate Hike Fears
February 15, 2023
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BEIJING—Asian stocks fell and European markets opened mixed Wednesday after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed. London, Tokyo, and Shanghai declined. Frankfurt advanced. Oil prices fell by more than $1 per barrel. Wall Street futures were lower after official data Tuesday…
Jobs Figures Send Euro, Sterling Higher; Dollar Slips Before CPI
LONDON—The euro and sterling rose against the dollar as UK basic pay growth sped up and eurozone employment rose more than expected, underlining the resilience and tightness of the labor market across the region. A flash estimate of employment showed the number of people with jobs in the eurozone increased by 0.4 percent quarter-on-quarter, twice…
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