Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles weighed on sentiment.
Brent futures were up 20 cents at $76.24 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95.
The March contract expires on Thursday, while the more active April contract rose 21 cents to $72.31.
U.S. crude stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures on Wednesday.
Official oil inventory data from the U.S. Energy Information Administration (EIA) is due on Thursday. Both reports were delayed a day on account of a U.S. holiday on Monday.
Source: Reuters
Oil held a decline after the International Energy Agency projected an even bigger surplus next year, with the bearish outlook offsetting concerns about geopolitical tensions from the Middle East ...
Oil prices slid about 2% on Thursday on concerns over softening U.S. demand and broad oversupply that offset threats to output from the conflict in the Middle East and the war in Ukraine. Brent crude...
Oil prices fell on Thursday (September 11), pressured by concerns over weakening US demand and a widespread oversupply, offsetting the threat to production from conflicts in the Middle East and Russia...
Oil prices held steady on Thursday (September 11th) as concerns over weakening US demand and the risk of a wider oversupply were offset by concerns over attacks in the Middle East and Russia's war in ...
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...
Gold prices continue to approach $3,650 per ounce and are poised for a fourth weekly gain. This was fueled by expectations that the Federal Reserve will cut US interest rates, as inflows into gold-backed ETFs increased. Silver also rallied,...
Hong Kong shares surged 375 points, or 1.4%, to 26,405 on Friday morning's trade, reversing losses in the prior session and hitting their highest in over four years. The rally was broad-based, tracking a global rally after Wall Street's S&P 500...
The US dollar weakened on Friday after a surge in jobless claims and a moderate rise in inflation made markets increasingly confident that the Fed would cut interest rates next week—and possibly further thereafter. The dollar index stood at 97.585,...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
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...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...