Oil was up Wednesday morning in Asia, boosted by a draw in U.S. crude supplies that reinforced expectations that fuel demand will outstrip supply growth. However, increasing numbers of COVID-19 cases globally capped the black liquid’s gains. Brent oil futures gained 0.65% to $74 by 11:26 PM ET (3:26...
West Texas Intermediate crude futures fell below the key $70 level Monday for the first time in more than a month as OPEC and its allies agreed to raise output, and as the delta Covid variant threatens global demand. U.S. oil settled 7.51% lower at $66.42 per...
America’s oil demand has soared to new heights in a remarkable turnaround from just a year ago when the pandemic sent the U.S. economy into a tailspin and decimated demand. A rolling average of U.S. total oil products supplied – an indicator of consumption – jumped...
European stock markets edged lower Monday, with investors keeping a wary eye on the oil market, while the prospect of a bidding war for Wm Morrison (LON:MRW) sparked interest across the U.K. grocery sector. At 3:45 AM ET (0745 GMT), the DAX in Germany traded 0.6% lower, the CAC...
Asia-Pacific stocks jumped on Friday, with shares in Hong Kong and mainland China among the region’s biggest gainers. Hong Kong’s Hang Seng index jumped 1.4% to close at 29,288.22. Shares of Chinese tech firms listed in the city surged: Tencent rose 2.66%, Alibaba jumped 2.57% while Meituan soared 4.76%. The broader Hang Seng Tech index...
Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S. crude inventories. The American Petroleum Institute reported U.S. crude inventories fell 8.5 million barrels, two...
European stock markets edged higher Thursday, as investors digested a generally positive fresh round of corporate earnings, both in Europe and on Wall Street. At 3:55 AM ET (0835 GMT), the DAX in Germany traded 0.4% higher, the CAC 40 in France rose 0.2% and the...
A group consisting of some of the world’s most powerful oil producers on Thursday decided to gradually curb existing output cuts beginning next month. Starting in May an additional 350,000 barrels per day will be added to production, with another 350,000 coming on the market in...
European stock markets traded lower Wednesday as doubts about the speed of recovery from the Covid-19 pandemic weighed on sentiment even after healthy business activity data. At 5 AM ET (0900 GMT), the DAX in Germany traded 0.5% lower, the CAC 40 in France fell 0.4%...
Asia-Pacific markets traded mixed on Wednesday as investors wait for the outcome of the U.S. Federal Reserve’s two-day policy meeting later in the day. Australia shares deepened their losses as the ASX 200 fell 0.82%, with most sectors trading lower. The energy and materials subindexes declined...
