Category: Gold and Commodities

Oil Rises on China Demand Optimism and Supply Concerns

February 20, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers, and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7 percent, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was up 58 cents,…

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Shares Edge Up as US Holiday Interrupts Interest-Rate Reality Check

February 20, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares edged up on Monday as a U.S. holiday made for slow trading ahead of minutes of the latest Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer. The dollar, which is heading for its largest one-month rise since September in…

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Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 17)

February 17, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for March delivery fell $2.15 to $76.34 a barrel Friday. Brent crude for April delivery fell $2.14 to $83 a barrel. Wholesale gasoline for March delivery fell 3 cents to $2.41 a gallon. March heating oil fell 10 cents to $2.71 a gallon. March natural gas fell 11 cents to $2.28…

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Oil Heads for Weekly Loss on Rate Hike Worries, Ample Supply

February 17, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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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….

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Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 16)

February 16, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for March delivery fell 10 cents to $78.49 a barrel Thursday. Brent crude for April delivery fell 24 cents to $85.14 a barrel. Wholesale gasoline for March delivery fell 6 cents to $2.44 a gallon. March heating oil fell 3 cents to $2.81 a gallon. March natural gas fell 8 cents…

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Nestle Plans Price Hikes After Costs Eat Into Profits

February 16, 2023
Business & MarketsCompanieseconomic policieseconomyEuropeGold and CommoditiesinflationMarketsNestleresultsRussia-Ukraine WarstocksWorld
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ZURICH/LONDON—The world’s biggest food group Nestle will lift prices again this year, Chief Executive Mark Schneider said on Thursday, after more costly ingredients contributed to making its 2022 profit miss market forecasts. Rivals have said they anticipate a more positive pricing outlook for shoppers in 2023. But Schneider said further rises were necessary to offset…

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Oil Slips on US Stock Build, Trading in Narrow Range

February 16, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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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…

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Stocks Shrug Off Rate Risks as Data Tempers Recession Worries

February 16, 2023
Business & MarketsCompaniescryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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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…

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Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 15)

February 15, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for March delivery fell 47 cents to $78.59 a barrel Wednesday. Brent crude for April delivery fell 20 cents to $85.38 a barrel. Wholesale gasoline for March delivery rose 1 cent to $2.50 a gallon. March heating oil fell 10 cents to $2.84 a gallon. March natural gas fell 10 cents…

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Oil Drops on US Interest Rate Worries

February 15, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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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….

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