Brent crude surged to briefly surpass $86 per barrel, marking its highest level since November, before retracting slightly, on Monday. The escalation of Ukraine’s assaults on Russian energy infrastructure drove this volatility. Brent crude oil futures for May delivery rose by 51 cents, reaching $85.85 a barrel at 1333 GMT. Concurrently, the April contract for …
In the week ahead on Wall Street all eyes will be on the US Federal Reserve’s monetary policy meeting. After inflation data released last week showed that the consumer prices in the US rose in February, the Fed policymakers are widely expected to keep interest rate unchanged. The FOMC’s (Federal Open Market Committee) interest rate …
Oil prices climbed about two per cent on Wednesday, March 6, on a smaller-than-expected build in US crude inventories, a big withdrawal from distillate and gasoline stockpiles and remarks by the US Federal Reserve chair Jerome Powell that he still expects US interest rate cuts this year. Lower interest rates could increase demand for oil …
Oil prices remained relatively stable on Monday, following the anticipated decision by the OPEC+ producer group to extend voluntary output cuts until the middle of the year. Brent futures saw a modest increase of 19 cents, reaching $83.74 per barrel at 1422 GMT, following a 2.4% increase the previous week. Similarly, U.S. West Texas Intermediate …
NEW DELHI :India is in talks with several countries including Guyana, Suriname and Namibia to source crude oil at a time when the Organization of the Petroleum Exporting Countries and its allies have decided to extend their production cuts. India will also source oil from Venezuela in lieu of stuck dividends worth $600 million, Union …
Before Market Opens: Indian markets are likely to open in the red on Thursday despite a surge in Asian peers as Japan’s Nikkei 225 gained over 0.8% to a new record high above the 40,000 mark. Gift Nifty was trading 14 points lower, indicating a negative start for benchmark Nifty. Let’s take a look at …
US stocks edged lower on Wednesday ahead of an inflation data due later in the week. At 09:35 a.m. ET, the Dow Jones Industrial Average was down 204.74 points, or 0.53 per cent, at 38,767.67, the S&P 500 was down 14.78 points, or 0.29 per cent, at 5,063.40, and the Nasdaq Composite was down 66.84 …
Oil prices experienced a slight decline amid speculation that unexpectedly robust inflation figures might postpone reductions in high interest rates, which have been restraining global fuel demand growth. Brent crude futures saw a decrease of 20 cents, marking a 0.3% drop to $81.42 per barrel by 1415 GMT. Similarly, U.S. West Texas Intermediate crude futures …
US stocks surged on Thursday on robust Nvidia results. Nvidia’s shares rallied 12.9 per cent after the chipmaker forecast a roughly three-fold surge in first quarter revenue on strong demand for its artificial intelligence (AI) chips. At 09:42 a.m. ET, the benchmark S&P 500 was up 1.31 per cent at 5,047.07, after hitting intraday record …
Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 54 cents, or about 0.7%, at $81.65 a barrel, while U.S. West Texas Intermediate crude futures slipped 32 …