LONDON—Oil slipped on Thursday as investors took profits after a recent price rally, but strong demand and short-term supply disruptions continue to support prices close to their highest since 2014. Brent crude futures were down 39 cents, or 0.4 percent, at $88.05 a barrel by 1006 GMT after dropping more than $1 in earlier trade….
Dollar Holds Near Weekly High, Sterling Takes Inflation Data in Stride
LONDON—The dollar held near a weekly high on Wednesday after a surge in U.S. yields resulted in sharp gains this week against the euro amid growing bets the Federal Reserve will raise the interest rate. Sterling was flat against the dollar after data showed British inflation rose 5.4 percent in December, to its highest level…
Global Shares Mostly Fall After Retreat on Wall Street
TOKYO—Global shares mostly fell in cautious trading on Wednesday, with Tokyo’s Nikkei 225 down nearly 3 percent, after stocks on Wall Street sank to a new low for the year. France’s CAC 40 added 0.1 percent to 7,138.95, while Germany’s DAX shed 0.3 percent to 15,720.91. Britain’s FTSE 100 sank 0.1 percent to 7,556.70. The…
Global Shares Mostly Fall as Investors Mull Likely Rate Hike
TOKYO—Global shares were mostly lower Tuesday following a national holiday in the U.S, while oil prices surged following an attack on an oil facility in the capital of the United Arab Emirates that killed at least three people. Benchmark U.S. crude rose $1.44, or 1.7 percent, to $85.26 a barrel in electronic trading on the…
Oil Edges Higher on Tight Supply, Limited Omicron Impact
Oil prices edged up on Monday as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the Omicron coronavirus variant. Brent crude futures gained 9 cents, or 0.1 percent, to $86.15 a barrel by 0539 GMT. Earlier in the session, the contract touched its highest since Oct….
Stocks Mixed After China Reports Slowing Growth
SYDNEY—Share markets were choppy on Monday as a slew of Chinese economic data confirmed the deadening effect of coronavirus restrictions on consumer spending, prompting Beijing to again ease monetary policy. A holiday in the United States made for thin trading, but that did not stop Treasury futures from sliding further and Brent crude hitting a…
Oil Futures Rise for a Fourth Weekly Gain on a Weaker Dollar
LONDON—Oil futures rose on Friday on course for a fourth weekly gain boosted by supply constraints and a weaker dollar. Brent crude futures rose $1.16, or 1.4 percent, to a two-and-a-half-month high of $85.63 a barrel at 1125 GMT. U.S. West Texas Intermediate crude gained $1.06, or 1.3 percent, to $83.18. Crude prices turned positive…
Oil Holds Near $85/bbl on Stronger Demand Prospects
LONDON—Oil prices steadied near 2-month highs on Thursday, with Brent crude trading near $85 a barrel buoyed by expectations that a strong economic recovery will boost demand, but rising U.S. inventories and high inflation capped gains. Brent crude futures gained 15 cents, or 0.2 percent, to $84.82 a barrel, by 1024 GMT. U.S. West Texas…
Oil Prices Shrug Off Omicron Slump, Soar to 2-month Highs
LONDON—Oil prices hit two-month highs on Wednesday on tight supply and easing concerns about the potential hit to demand from the Omicron coronavirus variant. Federal Reserve Chairman Jerome Powell said on Tuesday the economy of the United States, the world’s biggest oil consumer, should weather the current COVID-19 surge with only “short-lived” impacts and was…
Global Stocks, Wall Street up After Powell Says Rates to Rise
BEIJING—Global stocks and Wall Street futures advanced Wednesday after Federal Reserve chairman Jerome Powell said U.S. monetary policy would return to normal and interest rates might be raised earlier than planned. London and Frankfurt opened higher. Shanghai, Tokyo, and Sydney advanced. Wall Street’s benchmark S&P 500 index rose 0.9 percent on Tuesday after Powell said…
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