Oil steadied after the biggest gain in two weeks that was driven by easing US inflation and bullish demand data.
Brent crude traded near $71 a barrel after jumping 2% on Wednesday, with West Texas Intermediate below $68.
US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months.
"Crude oil prices have been a beneficiary of the risk-on sentiment across markets," said Charu Chanana, chief investment strategist for Saxo Markets Pte in Singapore. "However, risks persist, with concerns around global growth and potential tariffs clouding the outlook."
Source: Bloomberg
Oil prices were little changed on Wednesday (November 5) as investors digested weaker economic data from major oil-importing countries and US inventories indicating stronger fuel demand, while a stron...
Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months. West Texas Intermediate held above $60, while Brent set...
Oil prices fell over 1% on Tuesday as OPEC+'s decision to pause output hikes in the first quarter next year along with weak manufacturing data and a stronger dollar weighed on the market. Brent crude...
Oil dipped after a four-day run of gains as the market weighed OPEC+'s decision to pause output hikes early next year and contrasting views on supply. West Texas Intermediate traded near $...
Oil prices were little changed despite news that OPEC+ plans to end its supply increases, with the market weighed down by concerns about oversupply and weak factory data in Asia. Brent crude futures ...
Employment at US companies rose in October, signaling stabilization in the labor market after two straight months of declines. Private-sector jobs increased by 42,000 after a revised 29,000 decline in the previous month, according to ADP Research...
American consumers struggling to access food assistance payments due to the government shutdown are unable to fill their shopping carts, and that's "hurtful," according to the company behind Stop & Shop and Food Lion grocery stores. The US...
Gold prices rose more than 1% on Wednesday (November 5), with a slight weakening of the US dollar and widespread risk-off sentiment boosting demand. Spot gold rose 0.8% to $3,966.54 per ounce as of 10:44 GMT. US gold futures for December delivery...
Asian stocks opened lower on Tuesday, reversing Wall Street's rally fueled by Amazon's massive $38 billion deal with OpenAI. Stock markets in South...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
Asia-Pacific markets declined on Wednesday, following a decline on Wall Street, which was driven by concerns about the valuations of artificial...