Tag: Gold & Commodities

Oil Slips After Restrictions to Counter Omicron Variant

LONDON—Oil prices eased after early gains on Thursday after measures by some governments to slow the spread of the Omicron coronavirus variant, though losses were capped by comments from vaccine makers about the efficacy of their jabs. Brent crude futures fell 47 cents, or 0.6 percent, to $75.35 a barrel by 1004 GMT after touching…


Global Stocks Higher as Investors Await US Inflation

BEIJING—Global stocks were mostly higher Thursday as investors waited for U.S. inflation data that might influence the Federal Reserve’s decision on when to roll back economic stimulus. London and Frankfurt opened higher while Tokyo declined. Shanghai, Hong Kong, and Seoul also advanced. Wall Street futures were lower after stocks rose for a third day Wednesday…


Wall Street Mixed as Omicron Worries Cloud Vaccine Update

U.S. stock indexes struggled for direction on Wednesday after a strong start to the week, as investors digested a fresh update on Pfizer and BioNTech’s COVID-19 vaccine, while the fast-spreading Omicron variant kept bigger bets in check. Pfizer and BioNTech said their three-shot course of COVID-19 vaccine was able to neutralize the new Omicron variant…


Oil Steadies Near $75 as Investors Assess Omicron’s Impact

LONDON—Oil prices steadied near $75 a barrel on Wednesday, taking a breather after strong gains earlier this week, as investors continued to assess the impact of the Omicron coronavirus variant on the global economy and fuel demand. Brent crude futures dropped 19 cents, or 0.25 percent, to $75.25 a barrel at 0925 GMT, after settling…


World Shares Mostly Higher as Virus Fears Ease

BANGKOK—Stocks advanced Wednesday in Asia after another broad rally on Wall Street as investors wagered that the new variant of the COVID-19 virus won’t pose a big threat to the economy. Shares rose in Paris, London, Tokyo, and Shanghai but fell in Frankfurt as Germany’s parliament elected Olaf Scholz as the country’s ninth post-World War…


Omicron Threatens Asia Oil Demand Just as Pricing Favours Atlantic Crude

LONDON—Recent shifts in the relative price of different crude grades have dealt oil exporters from the vast Atlantic Ocean basin the best chance in months to sell to top consuming region Asia, but sales have been sluggish as COVID-19 fears cool demand. The Omicron coronavirus variant has curbed oil consumption in Asia just as U.S….


Big Tech, Chipmakers Power Nasdaq as Omicron Worries Subside

The Nasdaq rallied more than 2 percent on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. Investors cheered the chip giant’s decision to list Mobileye in the United States in mid-2022, sending its shares 5.0 percent higher. The…


Commodity Currencies Boosted by Hopes Omicron Will Be Mild

LONDON—The dollar index was steady and riskier currencies picked up on Tuesday, as traders bet that the Omicron variant of COVID-19 would not be as severe as previously expected. Asian shares staged a recovery overnight and oil prices climbed as risk appetite improved following reports in South Africa earlier in the week saying that Omicron…


Bitcoin Back Over $50,000, as Market Calms After Weekend Turmoil

HONG KONG—Bitcoin rose 1.5 percent in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday’s sharp and sudden plunge. The world’s largest cryptocurrency was last around $50,800, having closed a choppy day on Monday 2.2 percent higher. “The general…


Oil Climbs More Than 2 Percent on Easing Omicron Fears, Iran Delay

LONDON—Oil prices extended gains on Tuesday from a near 5 percent rebound the day before as concerns about the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Brent crude futures were up $1.66, or 2.3 percent, at $74.74 a barrel by…