LONDONO—Oil rose by more than 3 percent on Friday as the dollar eased, with an EU ban on Russian oil looming large. Though fears of global recession capped gains, Brent crude futures were up $3.29, or 3.48 percent, at $97.96 a barrel by 1203 GMT, set for a weekly gain of more than 2 percent….
Oil Climbs 3 Percent as Dollar Slips and EU Ban Looms
November 4, 2022
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Stocks and Oil Rally Ahead of Key US Jobs Data
November 4, 2022
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LONDON/SINGAPORE—Global stocks rose on Friday for the first time in three days ahead of key U.S. jobs data. The MSCI index of global shares rose 0.3 percent on the day, breaking two straight days of losses, but still headed for a near-3 percent weekly loss, after more big rate hikes from the Federal Reserve and…
Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 3)
November 3, 2022
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Benchmark U.S. crude oil for December delivery fell $1.83 to $88.17 a barrel Thursday. Brent crude for January delivery fell $1.49 to $94.67 a barrel. Wholesale gasoline for December delivery fell 1 cent to $2.69 a gallon. December heating oil rose 19 cents to $3.87 a gallon. December natural gas fell 29 cents to $5.98…
‘Massive Scars’: Germany’s Uniper Posts Record 40 Billion Euro Net Loss
November 3, 2022
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FRANKFURT/DUESSELDORF—Soon-to-be-nationalized gas importer Uniper reported a record 40 billion euro ($39.3 billion) net loss in the first nine months of this year, the biggest in German corporate history, after Russia stopped its supplies. The loss further highlights how Russia’s decision to sever a decade-long supply relationship with Europe, most notably Germany, is impacting the continent’s…
Oil Falls as Fed Rate Hike Raises Fuel Demand Concerns
November 3, 2022
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LONDON—Oil slipped on Thursday as an increase to U.S. interest rates pushed up the dollar and heightened fears of a global recession that would crimp fuel demand, though losses were capped by concern over tight supply. Brent crude dropped by $1.19, or 1.2 percent, to $94.97 a barrel by 1135 GMT while U.S. West Texas…
US Futures Retreat as Fed Digs in for Inflation Fight
November 3, 2022
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Wall Street is heading lower ahead of Thursday’s opening bell after the Federal Reserve added another jumbo rate increase and suggested that the pace of rate hikes may slow, but the fight against inflation is far from over. Futures for Wall Street’s benchmark S&P 500 index fell 0.8 percent and futures for the Dow Jones…
Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 2)
November 2, 2022
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Benchmark U.S. crude oil for December delivery rose $1.63 to $90 a barrel Wednesday. Brent crude for January delivery rose $1.51 to $96.16 a barrel. Wholesale gasoline for December delivery rose 11 cents to $2.70 a gallon. December heating oil rose 6 cents to $3.68 a gallon. December natural gas rose 56 cents to $6.27…
US Provides Grants, Loans to Expand Meat Processing Capacity
CHICAGO—The U.S. Department of Agriculture will direct $73 million in grants to small- and medium-sized meat and poultry processors to expand their capacity and deliver more funds through lending programs, Secretary Tom Vilsack said on Wednesday. The money aims to increase competition and stability in the meat industry as part of a broader effort by…
Oil Prices Slip Ahead of Fed, US Crude Stockpiles Seen Falling
November 2, 2022
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LONDON—Oil prices slipped on Wednesday ahead of an expected rate hike by the Federal Reserve, but found a floor as market participants eyed falling U.S. crude stockpiles and upcoming European sanctions on Russian barrels. Brent crude dipped 56 cents, or 0.6 percent, to $94.09 a barrel by 1027 GMT, while U.S. West Texas Intermediate (WTI)…
Caution Creeps Into World Stocks as Fed Gets Ready to Hike Big Again
November 2, 2022
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LONDON—European shares dipped and U.S. stock futures were mixed on Wednesday as a note of caution crept into world stock markets as the U.S. Federal Reserve looked set to deliver its fourth, 75 basis points interest rate increase. Another aggressive rate hike to contain hot inflation when the Fed concludes its two-day meeting later is…
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