mcx crude oil prices

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

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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 prices drop over $1 after US inflation, Fed outlook hurts consumer demand; Brent at $82/bbl

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Oil prices drop over $1 after US inflation, Fed outlook hurts consumer demand; Brent at $82/bbl

Brent crude futures fell by $1.21, or 1.45 per cent, to $82.50 per barrel. US West Texas Intermediate crude (WTI) futures for June, slipped by $1.26, or 1.58 per cent, to $78.54. The more active July contract lost $1.09, or 1.37 per cent, to $78.21. The structure of the Brent contract is weakening in an … Read more