Oil settles at one-month low; sheds over $2 led by firm US dollar, Gaza ceasefire hopes: Brent down 2% to $82/bbl

Oil settles at one-month low; sheds over $2 led by firm US dollar, Gaza ceasefire hopes: Brent down 2% to $82/bbl

International crude oil prices settled over $2 lower in the previous session at their lowest level since mid-June as investors eyed a possible ceasefire in the Middle East’s Gaza. A strengthened US dollar also drove values down further. Brent crude prices settled down $2.48, or 2.9 per cent, to $82.63 a barrel. US West Texas … Read more

Oil stabilises as signs of economic slowdown clash with Fed rate cut hopes; brent crude at $85.09/bbl

Oil stabilises as signs of economic slowdown clash with Fed rate cut hopes; brent crude at $85.09/bbl

Oil prices remained largely unchanged on Thursday as investors grappled with conflicting signals about crude demand. Concerns about a potential economic slowdown in the U.S. were balanced by rising expectations that the Federal Reserve might soon cut interest rates. By 11:41 a.m. EDT (1541 GMT), Brent futures had edged up by 1 cent to $85.09 … Read more

Oil extends gains after US inflation data pushes Wall Street to lift Fed rate cut bets; Brent stays above $85/bbl

Oil extends gains after US inflation data pushes Wall Street to lift Fed rate cut bets; Brent stays above $85/bbl

Crude oil prices extended gains on Thursday, July 11, keeping the Brent crude benchmark above the $85 per barrel-mark, after Wall Street experts lifted bets on interest rate cuts by the US Federal Reserve. This came after US government data showed an unexpected slowdown in consumer price-based (CPI) inflation. Brent crude futures were up 23 … Read more