Tag Archives: Business Day

Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in US crude inventories, suggesting demand is holding up despite steep interest-rate hikes dampening global growth. Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel at 4.41am GMT, while US West Texas Intermediate …

Oil prices rose nearly $1 a barrel on Thursday after dropping through key technical support levels in the previous session, as an energy standoff between European nations and Russia focused investor minds on how tight fuel supply may become. Brent crude futures rose by 91 US cents, or 1%, to …

Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude futures for October settlement dropped 81c, or 0.7%, to $104.28 a barrel …

Oil prices were little changed on Thursday as investors grappled with falling stockpiles in the US, rising output from Russia and worries about a potential global recession. Brent crude futures climbed 10c, or 0.1%, to $93.75 a barrel by 3.47am GMT. US crude futures gained 10c, or 0.1%, to $88.21 …

Oil prices fell about $1 on Monday in volatile trade, reversing some gains from the previous session, as worries about a recession and China’s Covid-19 curbs hitting demand outweighed ongoing concerns about tight supply. Brent crude futures fell 82c, or 0.8%, to $106.20 at 5.14am, after climbing 2.3% on Friday. …

Asian stocks slipped and the dollar stood by a two-decade high on the euro on Wednesday as investors’ fears deepened that the continent is leading the world into recession, while oil and European equity futures attempted to steady after a slide. Brent crude futures bounced 1.4% in morning trade to …

Oil prices rose 1% on Tuesday, clawing back more of last week’s losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand. Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel at 4am GMT, adding to a …

Oil prices eased on Tuesday as Hungary resisted a EU push for a ban on Russian oil imports, a move that would tighten global supply, and as investors took profits following a recent rally. Brent crude futures fell 22c, or 0.2%, to $114.02 a barrel by 3.27am GMT, while US …

Oil prices climbed on Tuesday as fears of a demand downturn in China eased after Shanghai relaxed some Covid-19 related restrictions, and oil cartel OPEC warned it would be impossible to increase output enough to offset lost Russian supply. Brent crude futures were up $1.72, or 1.75%, to $100.20 a …

Oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed US crude stocks unexpectedly fell last week just as near-term travel demand picked up with Covid-19 pandemic curbs easing. Brent crude futures climbed 32c, or 0.4%, to $85.10 a barrel by 4.16am GMT, after …