brent crude futures

Oil drops for fourth straight session as hawkish US Fed stance weakens demand outlook; Brent at $81/bbl

by
Oil drops for fourth straight session as hawkish US Fed stance weakens demand outlook; Brent at $81/bbl

Oil prices declined on Thursday, May 23, for the fourth session in a row, as the prospect of higher-for-longer US interest rates raised worries around demand growth in the world’s biggest oil market. High interest rates increase the cost of borrowing, which can slow down economic activity and dampen demand for oil. Brent crude oil … Read more

Oil records weekly gain after bullish US, China macro data raises demand; Brent nears $84/bbl, WTI up 2% in 5 days

by
Oil records weekly gain after bullish US, China macro data raises demand; Brent nears $84/bbl, WTI up 2% in 5 days

Oil prices settled nearly one per cent higher in the previous session, with global benchmark Brent crude recording its first weekly gain in three weeks, after bullish macroeconomic data indicators from the world’s top two oil consumers – China and the US – bolstered hopes for higher demand. Brent settled 71 cents higher, or 0.9 … Read more