Oil prices steadied in Asian trade on Thursday as traders digested hawkish signals from the Federal Reserve, while U.S. President Donald Trump reiterated plans to increase domestic energy production.
Oil prices were nursing losses over the past week after Trump called for lower oil prices and higher output in the U.S. and other major suppliers. Data showing a bigger-than-expected build in U.S. oil inventories also weighed on crude prices.
Markets remained largely skittish over Trump's plans to impose more trade tariffs on major global economies, especially China. The White House on Wednesday reiterated his plans to begin imposing tariffs from February 1.
Brent oil futures expiring in March rose 0.2% to $76.71 a barrel, while West Texas Intermediate crude futures rose 0.3% to $72.81 a barrel by 20:29 ET (01:29 GMT).
Trump tariffs, energy policy in focus
Trump on Wednesday claimed that the Fed had failed in stopping the "problem they created with inflation," and that he would help ease price pressures by "unleashing American energy production," among other measures.
Source: Trading Economics
Global oil prices stabilized after three consecutive days of gains. The market weighed US President Donald Trump's latest comments on Russia and the possibility of punitive measures for the war in Ukr...
Oil prices settled higher on Wednesday by more than $1 a barrel as investors worried about possible supply disruptions after Poland downed drones in its airspace and the U.S. pushed for new sanctions ...
Oil prices rose for a third straight session as investors weighed President Donald Trump's latest tariff threats against buyers of Russian crude, the impact of the Israeli strikes on Doha, and the pro...
Oil prices rose on Wednesday (September 10th) after Israel attacked Hamas leaders in Qatar, Poland shot down a drone, and the US pushed for new sanctions on Russian oil buyers, but concerns over crude...
Oil rose for a third session after President Donald Trump told European Union officials he's willing to slap new tariffs on India and China in an effort to get Russia to negotiate with ...
World oil prices recorded a slight decline in trading on Wednesday (September 10th) despite escalating geopolitical tensions in the Middle East. Prices briefly surged nearly 2% following Israel's attack on Qatar, but the gains were...
The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.822, marking a third consecutive day of gains....
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Thursday evening (WIB) for confirmation of the...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...