Oil was steady as traders eyed further clues on OPEC+'s output plans after postponing a key meeting for four days.
West Texas Intermediate crude futures held below $69 a barrel, while Brent crude settled above $73. The producer group is set to discuss whether to press ahead with a supply restart at a delayed online meeting on Dec. 5, or extend curbs into 2025 to avoid global markets becoming oversupplied
Crude has traded in a tight range since mid-October, alternating between weekly gains and losses. Prices have been shaken by volatile geopolitical tensions in the Middle East, waning demand in top importer China and concerns about whether incoming President-elect Donald Trump's policies could affect supplies from Russia and Iran. Futures remained on track for a weekly loss of more than 3% as a ceasefire between Israel and Iran-backed Hezbollah erased some of the war risk premium. Israeli Prime Minister Benjamin Netanyahu also said conditions were improving for a deal to free hostages still held by Hamas in Gaza.
Trading volumes were lower because of the Thanksgiving holiday on Thursday in the U.S., with just over 2.25 million WTI contracts changing hands for the week so far on the New York Mercantile Exchange. That's about half the average weekly volume over the past year.
Source: Bloomberg
Oil held the biggest gain in six weeks after US President Donald Trump reiterated he may impose additional economic penalties on Russia unless a truce is reached with Ukraine. West Texas Interme...
Oil prices gained more than 3% on Tuesday as President Donald Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partner...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on R...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on R...
Oil prices slipped on Tuesday amid uncertainty about the global economic outlook following the U.S.-EU trade deal, and as investors awaited the U.S. Federal Reserve's interest rate decision. Brent cr...
Japan's Nikkei Stock Average is flat at 40681.72, as gains in electronics and brokerage shares offset declines in auto and pharmaceutical stocks. NEC Corp. is up 6.4% and Daiwa Securities Group is higher by 2.7%, while Honda Motor is down 1.7% and...
Asia-Pacific markets opened mixed as U.S. Commerce Secretary Howard Lutnick affirmed that President Donald Trump's upcoming Friday deadline to impose major tariffs on a slew of trading partners will not be delayed further. However, Lutnick noted...
U.S. President Donald Trump said on Tuesday that India will likely face trade tariffs of 20% to 25%, although a deal is yet to be finalized. The tariff level is far greater than the 15% duties recently imposed on Japan and the European Union, and...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of...
The Dow Jones Industrial Average (DJIA) tested all-new record highs early Monday, clipping into the high side in early trading before the weight of...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US...