LONDON—The euro and sterling slipped to a one-month low versus the safe-haven U.S. dollar on Friday with investors worrying about further economic slowdown after Federal Reserve officials reiterated the need for higher rates. The dollar index rose 0.2 percent to 107.69, after earlier touching 107.74, its highest since July 18. The gauge is on track…
Euro, Sterling Slip to Month Low on Renewed Growth Fears
August 19, 2022
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Oil Headed for Weekly Loss as Recession Fears Cloud Demand Outlook
August 19, 2022
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LONDON—Oil prices slipped on Friday after two days of gains and are heading for weekly losses as a strong dollar and worries about a global economic slowdown weigh. Brent crude futures were down 97 cents, or 1 percent, at $95.62 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was at $89.59 a barrel,…
Global Markets Lower After Wall Street Gains on Jobs Data
August 19, 2022
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BEIJING—Global stock markets and Wall Street futures fell Friday after unexpectedly good U.S. jobs data left room for more interest rate hikes to cool inflation. London, Shanghai, Tokyo, and Frankfurt declined. Oil prices edged lower but stayed above $90 per barrel. Fewer Americans than expected filed unemployment claims last week, the Labor Department reported Thursday….
Record Jump in German Producer Prices Adds to Gloomy Outlook
BERLIN—German producer prices jumped at the fastest pace on record in July, underscoring the gloomy outlook for Europe’s largest economy, which is stuck in a stranglehold of soaring costs and weakening growth due to the Ukraine war. Producer prices—a leading indicator for inflation—surged 37.2 percent on the year, the biggest rise since records began in…
Oil Companies Work Around Jones Act to Supply US Fuel Markets
U.S. oil companies are working around a century-old shipping law to supply fuel to the U.S. East Coast, according to data from Refinitiv and oil trading sources, as high demand for gasoline and global disruptions in fuel markets sent prices higher. Traders are increasingly sending unfinished gasoline components from the Gulf Coast to Buckeye Partners…
Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 18)
August 18, 2022
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Benchmark U.S. crude oil for September delivery rose $2.39 to $90.50 a barrel Thursday. Brent crude for October delivery rose $2.94 to $96.59 a barrel. Wholesale gasoline for September delivery rose 10 cents to $3.03 a gallon. September heating oil rose 3 cents to $3.65 a gallon. September natural gas fell 5 cents to $9.19…
Eurozone July Inflation Confirmed at 8.9 Percent Year-on-Year, Core Measure Sharply Up
BRUSSELS—Eurozone inflation reached a new record high of 8.9 percent year-on-year in July, the EU’s statistics office confirmed on Thursday, with the core measure, excluding the most volatile components and key for monetary policy, also sharply up. The European Union’s statistics office Eurostat said consumer prices in the 19 countries using the euro rose 0.1…
Oil Rises on US Crude Stocks Data, Tight Supply Outlook
August 18, 2022
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Oil prices rose on Thursday as robust U.S. fuel consumption data and expected falls in Russian supply later in the year offset concerns that a possible recession in developed economies could undercut demand. Brent crude futures climbed $1.27, or 1.4 percent, to $94.92 a barrel by 1117 GMT. U.S. crude futures gained 93 cents, or…
Global Stocks Lower After Fed Says US Inflation Too High
August 18, 2022
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BEIJING—Global stock markets and Wall Street futures mostly declined Thursday after the Federal Reserve said U.S. inflation is too high despite aggressive rate hikes, suggesting support for more increases. London, Shanghai, Tokyo, and Hong Kong declined. Frankfurt opened higher. Oil prices edged up. Notes released Wednesday from the Fed’s July 26–27 board meeting said inflation…
Pummeled by Gas Crisis, Germany’s Uniper Posts $12.5 Billion Net Loss
August 17, 2022
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FRANKFURT/DUESSELDORF—Uniper, the highest-profile corporate victim of Europe’s energy crisis so far, reported a 12.3 billion euro loss ($12.5 billion) due to Russian gas supply cuts, saying it had become a “pawn” in the energy standoff between the European Union and Moscow. Germany’s largest importer of Russian gas needed a 15 billion euro government bailout last…
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