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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

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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

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?

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Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What's cooling down the commodity?

Brent crude futures for July were last down 29 cents, or 0.35 per cent, to $83.38 a barrel. US West Texas Intermediate crude for June fell 37 cents, or 0.47 per cent, to $78.58 per barrel. Both benchmarks are set for weekly losses as investors are concerned that higher-for-longer interest rates will curb economic growth … Read more