Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine.
Brent crude futures for January settled down 50 cents, or 0.68%, at $72.81. U.S. West Texas Intermediate crude futures for December expired on Wednesday, and settled down 52 cents, or 0.75%, at $68.87, while the more active WTI contract for January settled down 49 cents, or 0.71% at $68.75.
U.S. crude and gasoline stocks rose by more than expected last week, according to data from the Energy Information Administration, which weighed on prices.
Further boosting supply, Norway's Equinor said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage.
Weak demand in the world's largest crude importer continued, with Chinese stimulus announcements failing to boost oil demand growth in the near-term, Macquarie energy strategists said in a note.
The conflict between Russia and Ukraine and concern around future oil supply disruptions helped keep a floor under prices.
Source : Reuters
Oil prices were little changed on Monday as traders assess the impact of new European sanctions on Russian oil supplies while they also worry about tariffs possibly weakening fuel demand as Middle Eas...
Oil was little changed after its first weekly drop this month, with the focus on trade deal progress and the European Union's efforts to curb Russian energy exports. Brent crude held near ...
Oil prices edged higher on Friday (July 18th), heading for a slight weekly loss, as investors weighed new EU sanctions against Russia. Brent crude futures rose 50 cents, or 0.72%, to $70.02 a barrel ...
Oil headed for a back-to-back daily gain after US data showed the world's largest economy holding up despite the fallout from the Washington-led trade war, while market metrics pointed to near-term ti...
Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid...
Silver prices surged again after Fed Governor Christopher Waller reiterated his support for monetary policy easing in July, citing a weakening labor market and declining inflation risks.As of this writing, silver prices are at $38,461. Source:...
Gold prices rose on Monday (July 21st), supported by a weaker dollar as investors monitored developments in US trade talks and awaited potential market-moving catalysts, including the Federal Reserve's policy meeting scheduled for next week.As of...
The Hang Seng Index rose for the second day, climbing 0.7%, or 168.48 to 24,994.14 in Hong Kong. The index advanced to the highest closing level in at least a year. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing...
Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S....
The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed...
Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest...