brent oil prices

Oil records longest losing streak in 5 months on hawkish US Fed policy, demand worries; Brent down 2% at $82/bbl

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Oil records longest losing streak in 5 months on hawkish US Fed policy, demand worries; Brent down 2% at $82/bbl

The Brent crude July contract rose 76 cents to $82.12 a barrel. The more-active August contract closed up 73 cents at $81.84. US West Texas Intermediate (WTI) crude futures settled 85 cents, or 1.1 per cent, higher to $77.72. On Thursday, Brent closed at its weakest since February 7 and US WTI futures at their … Read more

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